|
Forum Rules | Firearms Safety | Firearms Photos | Links | Library | Lost Password | Email Changes |
Register | FAQ | Calendar | Search | Today's Posts | Mark Forums Read |
|
Thread Tools | Search this Thread |
January 26, 2016, 06:06 PM | #1 |
Senior Member
Join Date: October 13, 2015
Location: Arlington Texas
Posts: 126
|
Remove Co-Trustee from NFA Gun Trust
Hello,
I have a quick question regarding an NFA trust I had setup a few years ago. Originally a few of us (good friends) went in on an NFA trust. I was listed as the main guy on the trust. Since then, we never purchased an NFA Item and some of us have drifted apart. I would like to remove two of the members of the trust (there will still be 2 of us on the trust). What do I need to do to amend the trust? Is there a simple form that I fill out? I'm not familiar with the process. Any advice you can give would be most helpful. The main reason I'm removing the two individuals is that I'm ready to purchase a Suppressor, and as the two individuals and I haven't kept up for several years I really don't feel comfortable with them having access to my Suppressor. Thank you for the input!
__________________
Never go to war with a man who can end you from another zip code. Remember that just because you are out of sight... doesn't mean you are out of range. Unless of course.... you can end him from a further distance. |
January 27, 2016, 09:57 AM | #2 |
member
Join Date: June 12, 2000
Location: Texas and Oklahoma area
Posts: 8,462
|
You should contact the attorney who drafted the trust and ask him. Most trusts specify what steps are necessary to remove a trustee and who can do it; so it would be impossible to tell you how to do it without looking at the trust.
|
January 27, 2016, 07:52 PM | #3 |
Junior member
Join Date: May 16, 2008
Posts: 9,995
|
Yeah, the trust should specify how, but...
Depending what you are going to buy I recommend a new trust just to make sure no one ever makes an issue of it. |
January 27, 2016, 11:37 PM | #4 |
Senior Member
Join Date: March 14, 2010
Location: Border of Idaho & Montana
Posts: 2,584
|
in some cases the only option is to make a new trust.
__________________
Shot placement is everything! I would rather take a round of 50BMG to the foot than a 22short to the base of the skull. all 26 of my guns are 45/70 govt, 357 mag, 22 or 12 ga... I believe in keeping it simple. Wish my wife did as well... |
February 6, 2016, 12:11 AM | #5 |
Senior Member
Join Date: March 5, 2009
Location: Uh-Hi-O
Posts: 3,006
|
I had a similar situation with my ex and my NFA trust. I contacted the attorney who wrote the trust. He provided me with a form to amend (remove or add) trustees.
__________________
"9mm has a very long history of being a pointy little bullet moving quickly" --Sevens |
February 8, 2016, 10:27 AM | #6 |
Senior Member
Join Date: October 13, 2015
Location: Arlington Texas
Posts: 126
|
Everyone, thank you for the input. I have contacted the attorney that drafted the trust and he told me he was going to charge me $125 for the letter to amend the trust to add/remove cotrustees.
This amendment can't be that complicated. Does anyone know of a place that has an amendment template that I can use? I haven't been able to find one online.
__________________
Never go to war with a man who can end you from another zip code. Remember that just because you are out of sight... doesn't mean you are out of range. Unless of course.... you can end him from a further distance. |
February 8, 2016, 11:36 AM | #7 |
Senior Member
Join Date: November 23, 2009
Posts: 3,963
|
You've been dealing with this for two weeks, are you sure $125 to have your attorney handle the matter properly is excessive?
|
February 8, 2016, 05:57 PM | #8 |
Member
Join Date: January 31, 2016
Posts: 48
|
$125 for a lawyer to review your trust and give you the proper forms is actually not all that bad. The amendment procedure probably isn't complicated as you say, but don't forget that everything you do (or fail to do) will have legal ramifications. Just my .02, but I'd have someone knowledgeable review it, even if you do it yourself!
Good luck! |
February 8, 2016, 08:41 PM | #9 |
Member
Join Date: January 5, 2006
Location: Far Western Kentucky
Posts: 78
|
Legal Fees
When I had my trust drawn up I paid fees to two lawyers. One a nationally recognized gun trust lawyer and the second was my local attorney. Could I had done this much cheaper? Definitely, but it could also cost me much more. If there is an error in my trust and I do not think there is, I have a sound legal defense against prosecution. I paid two legal professionals to correctly and legally construct my trust, if they made errors I have taken reasonable and prudent precautions to insure it was correct and I should be held faultless.
My suggestion to you is do the same to remove trustees from your trust. |
February 8, 2016, 08:44 PM | #10 |
Senior Member
Join Date: December 29, 2015
Posts: 387
|
A quick google search:
http://blog.princelaw.com/2011/01/12...ked-questions/ I was a trust officer in the financial world for ~10 yrs before I retired, pay the $125 to avoid issues in the future. |
February 9, 2016, 03:15 PM | #11 |
member
Join Date: June 12, 2000
Location: Texas and Oklahoma area
Posts: 8,462
|
Well nomad, I'm an attorney who has drafted multiple gun trusts in Texas and I'm less than 30 minutes away from you and all I have to do is read your existing trust that is already drafted, advise you how that affects your interests and spend maybe 20-30 minutes drafting an amendment and I wouldn't even touch that for $125.
If you were already my client and I knew the background, then sure... that might be more than reasonable. The thing is, as a lawyer, I'm held to a higher standard than Quickbooks or LegalZoom and that is a big part of my costs. You can do that yourself much cheaper because you assume all the risk of making a bad decision. The best analogy I have is if I rewire my house and 10 years from now it burns down because of the way I rewired it, that is on me. If I pay some guy to do it and 10 years from now it burns down from wiring, that's on him. Connecting copper wires isn't rocket science by any means, but people manage to screw it up pretty regular. |
Thread Tools | Search this Thread |
|
|