The complete do-it-yourself NFA Trust (Gun Trust) kit with instructions. Thousands sold, ATF approved and not one complaint. 1 out of every 10 sold is to a law firm or lawyer.
Included with this kit are the following:
This is the main document and it (along with the Certificate) must be signed by you and then acknowledged by a Notary Public. You will name someone to manage the trust at your death and name beneficiaries in the trust.
Any firearms not specifically left to a designated person can be held in the trust and/or sold by the successor Trustee (the proceeds of any sales are added to the remainder of the Trust); when the trust no longer owns any restricted firearms the trust is distributed to the remainder beneficiaries.
To exist, a trust must have a "corpus"(i.e., the "body"), so it is necessary to initially fund the trust and then additional assets (e.g., the firearms) can be transferred to an existing trust. The default funding amount is $10; however, since this amount will be used to open the trust checking account, if you wish to initially open the account with a greater sum, simply change the amount on the Schedule "A" to the correct amount. You should sign concurrently with the signing of the trust.From the ATF
The Certification sets forth the existence of your Trust and your unlimited right as Trustee to deal with any account or asset held in the Trust. The Certification acts as a short version of the Trust Agreement and gives any third party (e.g., the bank) all the information required from the Trust without getting into the dispositive provisions, which are (and should remain) confidential. Please note, for BAFTE registration, you will have to provide a complete copy of the executed trust.
This Letter should be given to your bank to create a new checking account for the trust; this account should be used for all payments and fees relating to the purchase of any firearms to be owned by the trust. Please note, as long as you are alive and acting as the Trustee, your trust is characterized (for income tax purposes) as a "Grantor-type Trust"; accordingly, there is no separate tax identification number required for the trust (you will use your Social Security Number) and all income attributable to the trust (e.g., interest and/or gain from the sale of a trust asset) should be shown on your income tax return. FYI, the term "U/A" stands for "under agreement".
Pursuant to federal law, only a current Trustee is permitted to use or even possess a restricted firearm owned by the trust; an unauthorized person in possession of a restricted firearm can be subject to serious felony criminal charges. This Appointment can be used to make any other person or persons a current co-Trustee and, as a result, give such co-Trustee(s) the right to the immediate use of a trust asset. This form is not to be completed until needed.
If it is no longer necessary or appropriate to for a person appointed as a co-Trustee to continue to act as such, this form can be used for the resignation of the co-Trustee. Again, this form is not to be completed until needed.
This is an optional form which can be used to transfer any existing firearms into the trust, whether restricted or not.
This is also an optional form and can be completed at any time (you should make copies of it for future use). This form is to be completed by you to designate the distribution at your death of specific items of the trust (i.e., a specific firearm) to specific people. You can add to or change this form as often as you wish without having to amend your trust; if you do add or delete a distribution, you should date and initial the addition or deletion (or complete a new form and destroy the old one).
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