Magazine trusts?


PDA






MachIVshooter
February 18, 2013, 03:39 AM
It's time I get to bed and my brain is kinda done for the day, but I wanted to pose this question for our attorney types before I hit the hay.

We are very likely here in CO to see a > 15 round mag ban signed into law.

http://www.leg.state.co.us/clics/clics2013a/csl.nsf/fsbillcont3/7E6713B015E62E6F87257B0100813CB5?Open&file=1224_eng.pdf

What is the possibility of an amendable trust possessing magazines so that they may be under the control of persons who could not have owned them prior to the effective date of a grandfathering ban? This is specifically in reference to the Colorado bill, which is unique in grandfathering the owner rather than the magazine itself.

My daughters are good to go, as I have given each of them magazines to make them owners prior to the effective date. But if we have another kid, he or she will be born after the effective date; I'm trying to figure out if there's any way, assuming we stay in CO, that they could be beneficiaries of a trust that actually owns the magazines, similar to NFA trusts.

Thanks!

If you enjoyed reading about "Magazine trusts?" here in TheHighRoad.org archive, you'll LOVE our community. Come join TheHighRoad.org today for the full version!
kcgunesq
February 18, 2013, 10:03 AM
A few points.

1. When I clicked the link you provided, it took me to a bill concerning telephone rates.

2. The whole question, while a good one, really depends upon a deep understanding of Colorado specific law. An attorney from outside CO is only going to be able to make some slightly educated guesses.

3. It may make sense to create a trust to hold not just magazines, but weapons generally. If CO allows NFA weapons, the trust may be the perfect vehicle to address more than one issue.

4. While the trust could indeed be the "owner" and thus may need to exist before enactment of the law, whether that allows others to possess them is just one of the many types of questions a local attorney needs to consider.

If you get any good answers off the forum, I'd appreciate hearing a summary.

MachIVshooter
February 18, 2013, 10:16 AM
Sorry, that link was to HB 12-1224 instead of 13-1224. Corrected.

19-3Ben
February 18, 2013, 10:28 AM
2. The whole question, while a good one, really depends upon a deep understanding of Colorado specific law. An attorney from outside CO is only going to be able to make some slightly educated guesses.

And as far as giving legal advice goes, we (meaning attorneys) actually properly should give advice at all if we are not licensed in CO because it can be construed as unauthorized practice of law by the sate of CO.

I do recommend actually sitting down with an attorney and working it out. The idea has some merit.

Justin
February 19, 2013, 12:42 AM
This is a good question. I've sent an email to a local lawyer who I'm told does NFA trusts. I'll report back with any specifics.

BTR
February 19, 2013, 11:40 AM
Sounds like a great idea to me.

If you enjoyed reading about "Magazine trusts?" here in TheHighRoad.org archive, you'll LOVE our community. Come join TheHighRoad.org today for the full version!