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Thread: NFA Trust is done!
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26 August 2014, 06:00 #1
NFA Trust is done!
I was checking out Stickman's Facebook feed and saw that for his 100k giveaway, a company called Coyote Rifleworks donated 10 NFA trust paperwork deals and 3 $200 Visa gift cards to the giveaway. Stickman described that he'd emailed back and forth with the company and was impressed enough that he was going to use them to set up his trust. I figured good enough for Stickman, good enough for me! I called and spoke with Eric at Coyote Rifleworks, and he reiterated to me the reasons they were doing these trusts for people for the price they were to make it affordable. Here is a quote from Coyote Rifleworks on Stickman's Facebook page:
" Our goal is to get as many people involved in NFA ownership as possible. The more people who are owners, the stronger we all stand if there is ever a threat to change or remove our rights of ownership. Our Trust is only $95, and in celebration of the creation of our 500th Trust, we are running a promotion on them until the end of the month for only $85. We always respond to emails, and answer calls 7 days a week 9 am to 9 pm. All Trusts are created and delivered the same day."
Eric stressed to me in our conversation that they could easily charge more for setting up these trusts, but they wanted to help folks out by making sure cost was not a barrier to setting up a trust. After he answered all my questions, I gave him my payment info and filled out the online form. Less than two hours later I had a password protected .pdf form in my email inbox of the full trust document. Today I will get it notarized and e-file a form 1 for an SBR!
My entire experience with Eric of Coyote Rifleworks was very positive. For those of you considering an NFA trust, here is a link to their site: http://www.coyoterifleworks.com/nfa-trust/
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26 August 2014, 08:07 #2
I briefly looked at these guys also..
So $85 bux plus?
Do you get to name any co-trustees or name the trust ?
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26 August 2014, 08:48 #3
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26 August 2014, 09:04 #4
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26 August 2014, 10:58 #5
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26 August 2014, 13:50 #6
The older I get, the more I appreciate my father being an attorney, especially because he's a firearms enthusiast and had no qualms about creating a trust for my NFA firearms.
One thing you'll want to check on is how your state handles trusts with regards to assigning an item to it. When it comes to firearms, your state may treat the transfer of ownership from you to your trust as a private sale, which can have certain stipulations. For example, North Carolina still has a Jim Crow era law that requires a purchase permit for all pistol sales, even private transactions. This means one of the trustees is required to get a pistol purchase permit before transferring ownership of the pistol to the trust, even if the pistol belongs to said trustee.
A trust really isn't a complicated document, and as long as it states that the trustee can modify it, you can edit it as needed to fit your needs down the road (such as adding additional trustees or changing the beneficiaries). Just don't forget that the trust is subject to all the state and federal firearms laws, just like you. :)
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26 August 2014, 14:09 #7
The trust is the smart way to go. I have my NFA stuff tied to my small company and if it ever goes south or I kick the bucket, all those expensive items are in limbo. I really want to move them over but at $200 each, that is quite a tidy sum.
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26 August 2014, 15:41 #8
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11 September 2014, 09:50 #9
Gaspipeshooter,
Thank you very much for your kind words! Despite how busy we are, we want to know that each and every person who calls or contacts us is important, and even if they don't elect to purchase a Trust through us, we are happy to help in any way we can. The number of owners of NFA Title II items is such a small minority in comparison to the number of other types of firearms, that there is a stereotype or stigma that surrounds the purchase of suppressors (silencers), machine guns, short barreled rifles, short barreled shotguns, destructive devices, and All Other Weapons (AOWs). We do our best to help dispel rumors and educate people and encourage ownership, whether as an individual or especially through having a Trust because of its many benefits.
It is encouraging to know the level of support in the firearm community - we are all truly Brothers and Sisters In Arms.
Regards,
Eric
Coyote Rifleworks
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26 November 2014, 00:43 #10New Member
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Sorry for the necro, but I just saw that Coyote Rifleworks has a black friday deal (BLACKFRIDAY is the promo code) for NFA trusts at $75.00. I just pulled the trigger, so to speak. I figure with the level of people like Stick going with them, plus the price, it's a no brainer. A local attorney who specializes in trusts (and NFA trusts) was quoting me close to $400. Granted, that is for a full on tailored trust (and to be honest, down the road, I might pay to have him modify it into a multigenerational trust), but this looks to be a great way to start.
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9 December 2014, 07:22 #11
Thumbs Up for Eric...! Top Notch customer service.
Only negative is that my BFF is dragging his feet on getting his signatures done...lol Those silly Co-Trustees...