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Old October 19, 2007, 08:49 PM   #49
Florida Gun Lawyer
Junior Member
Join Date: October 19, 2007
Location: Jacksonville Florida
Posts: 5
Quicken Gun Trust

I have seen many of the trusts created by quicken and other software. Although it will accomplish your desired result of acquiring the Class 3 weapons, you put your family and friends at substantial risk. In addition, I have noticed that most people with these trusts pay the dealer directly instead of taking the proper precautions of creating a trust bank account and using the trust to complete the transaction. When you pay personally, you are at risk of the BAFTE stating that you made the purchase, and then transferred the item to the trust, 2 yes 2 violations of the NFA.

Your trustee needs special powers that are not granted by quicken, they need the ability to say not to an asset transfer, and need to be required to do a new form for upon a subsequent transfer. In addition they may need to comply with your state laws, Florida has no additional state laws dealing with Class III items, but there needs to be custom language in many places in the trust to protect the successor trustee or eventual beneficiaries of the items.

what happens if your beneficiary is a minor, or something happens to them and you would never give them a gun, who can or will make those decisions.

Be very careful using a generic trust as you are potentially putting your family and friends at a substantial risk of criminal and civil liability. You should speak to a gun lawyer in your state to find out more of these issues. most will not charge to speak to you.
David Goldman Florida NFA Gun Trust, Estate Planning, Asset Protection Lawyer
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