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Own Firearms? DO THIS NOW and thank me later
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[quote:Beetlepumprr:MV80NzM4Nzk2Xzg2MzI4MTk1X0Y4N0UyQ0E1] AMMO, DO THIS NOW! THANK ME LATER. [/quote]
Original Message
I am going to give you a suggestion, run with it if you like or ignore it totally. I am not providing legal advice, this is just me telling a story, so listen to my story or ignore it, your choice.
I suggest that you create an
individual REVOCABLE TRUST for EACH FIREARM you own
and assign ownership of a firearm into the given trust. This means each trust you create will own ONE firearm. If you have 10 firearms, you have 10 trusts. You can also assign ammo into the trust if you like.
They can even be named in numbered order:
OK Coral Firearms #1 Revocable Trust
OK Coral Firearms #2 Revocable Trust
OK Coral Firearms #3 Revocable Trust
...etc
You will need at least one Trustee (you) and a beneficiary.
Trusts cost NOTHING to form (unlike filing a LLC or corporation) and do NOT have to be part of any public record. To establish the date the trust was created so it can not be disputed later make sure your signature is NOTARIZED when you form the trust.
Now... once you do this you no longer technically own the firearm, the trust does. This means that if you wish to transfer that trust to anyone else in the future you simply add a Trustee to the trust and then you can resign from the trust. That is not a transfer or sale of the firearm.
The new trustee now has control of the trust, and the firearm, and no "transfer" has taken place.
Do this BEFORE it is signed into law, if it looks like that is going to happen. I predict it will happen.
You are welcome.
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