TexasCHLforum.com

Curious is anyone had any direct experience with Mr. Cody and setting up a trust?

http://www.texasnfatrust.com/" onclick="window.open(this.href);return false;

Cost? Ease of setup?

Thanks for any input!

He charges around $600 or at least he did about a year and a half ago. Lots of guys on Texas Gun Talk use him, he is a site sponsor over there.

He setup my trust. Very easy, a few questions over the phone, credit card and an e-mail arrives a few days later with a PDF for the trust and word document for the schedule A. Printed them out, went down to the bank for notary, opened an account for the trust and it's done.

One suggestion: Keep the trust name short if you are going to do any builds. It's a pain to engrave something like "Taumatawhakatangihangakoauauotamateapokaiwhenuakitanatahu Trust" on a receiver (yes, that is an actual place: wikipedia).

I can buy a full auto weapon if I set up this trust? How does it all work? Do I simply buy the weapon through the trust and pay for the tax stamp? No other catches?

A trust is an legal entity, like a corporation, that allows you to NOT have to get a "Chief Law Enforcement Officer" sign off on the Form 1 or Form 4s. The trust is what is purchasing or manufacturing the weapon. The machine gun has to be transferable, so manufactured prior to 1986, and you can buy it.

They are not cheap and eat a great deal of ammo.

Have fun.

Sean is a friend of mine and my 3 gun shooting partner.

I can assure you he will do you a good job at a reasonable price. I would wager he probably averages doing 20 of these every week. He knows what he is doing.

Give him a call.

Rick

more importantly, tell the rest of us what you're planning on using this trust for!

SBRs? Machine guns? Silencers? All the above?



(if you don't actually feel like sharing you don't have to. I'm just curious about fun toys)

Sean is working on mine right now, quick response to my email and very informative web site. http://www.texasnfatrust.com/" onclick="window.open(this.href);return false;

ddurkof wrote:A trust is an legal entity, like a corporation, that allows you to NOT have to get a "Chief Law Enforcement Officer" sign off on the Form 1 or Form 4s. The trust is what is purchasing or manufacturing the weapon. The machine gun has to be transferable, so manufactured prior to 1986, and you can buy it.

They are not cheap and eat a great deal of ammo.

Have fun.

Sean Cody also set my trust up a couple of years ago for two AK sbrs.

Another benefit not mentioned above is that if something unforseen happens to you, you are not in turn putting your significant other in violation of federal law by possessing class 3 weapons not in their names. The potential violiations are not pretty.

iom wrote:

ddurkof wrote:A trust is an legal entity, like a corporation, that allows you to NOT have to get a "Chief Law Enforcement Officer" sign off on the Form 1 or Form 4s. The trust is what is purchasing or manufacturing the weapon. The machine gun has to be transferable, so manufactured prior to 1986, and you can buy it.

They are not cheap and eat a great deal of ammo.

Have fun.

Sean Cody also set my trust up a couple of years ago for two AK sbrs.

Another benefit not mentioned above is that if something unforseen happens to you, you are not in turn putting your significant other in violation of federal law by possessing class 3 weapons not in their names. The potential violations are not pretty.

I have little to no knowledge concerning class 3 weapons laws but did not realize if I owned one and died, my heirs would be in violation of federal laws. Has anyone been prosecuted for this?

A quote from here under the faq: http://www.atf.gov/firearms/faq/nationa ... earms.html" onclick="window.open(this.href);return false;

Q: What can happen to someone who has an NFA firearm which is not registered to him?
Violators may be fined not more than $250,000, and imprisoned not more than 10 years, or both. In addition, any vessel, vehicle or aircraft used to transport, conceal or possess an unregistered NFA firearm is subject to seizure and forfeiture, as is the weapon itself.

[49 U.S.C. 781-788, 26 U.S.C. 5861 and 5872]

Unless someone can verify that the above is not the case, that's what I'm going by. Prosecuted or not.

iom wrote:A quote from here under the faq: http://www.atf.gov/firearms/faq/nationa ... earms.html" onclick="window.open(this.href);return false;

Q: What can happen to someone who has an NFA firearm which is not registered to him?
Violators may be fined not more than $250,000, and imprisoned not more than 10 years, or both. In addition, any vessel, vehicle or aircraft used to transport, conceal or possess an unregistered NFA firearm is subject to seizure and forfeiture, as is the weapon itself.

[49 U.S.C. 781-788, 26 U.S.C. 5861 and 5872]

Unless someone can verify that the above is not the case, that's what I'm going by. Prosecuted or not.

I am wondering how that law would play into a situation where the firearm is registered to a person who dies? Somehow it seems odd that the heirs would become instant felons. That would be a pretty serious risk for anyone to take. One never knows when their ticket is going to get punched. Thanks for the info. I have no immediate plans to aquire full auto but I do plan to get one at some point and would hate to put my family in a situation where my death results in them becoming instant felons.

03Lightningrocks wrote: I am wondering how that law would play into a situation where the firearm is registered to a person who dies? Somehow it seems odd that the heirs would become instant felons. That would be a pretty serious risk for anyone to take. One never knows when their ticket is going to get punched. Thanks for the info. I have no immediate plans to aquire full auto but I do plan to get one at some point and would hate to put my family in a situation where my death results in them becoming instant felons.

If an individual passes and wills a Title II firearm/device to someone, the property would have to be kept by a Class III FFL/SOT until the paperwork went through. The heir would have to pay for a new $200 transfer tax stamp. If you have a trust and pass, the items. In thd trust are left to the remaining trustees, no need to pay transfer.

Sean did my trust about a month ago. His price was higher than a local gun trust attorney, but he was the first to respond to my e-mail inquiry. He called me and spent a great deal of time to answer all of my questions and just shoot the breeze. I promised to give him a call when I was ready for a trust and I did. He's a cool dude and very easy going. I could spend my entire day on the phone talking guns w/ that dude.

He gets 2 big thumbs up from me.