199 Trust


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zstephens13
April 16, 2014, 10:53 AM
I just received my NFA trust from 199trust.com, which actually only cost $99. I am very please. The trust is detailed, before I purchased Eric answered all of my questions and was very candid with me. With the trust they sent amendment forms and helpful tips in using the trust.

Overall, a really great experience and I'd recommend them.

Z

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Aaron Baker
April 16, 2014, 06:30 PM
Did he candidly tell you whether or not he was licensed to practice law in Alaska?

medalguy
April 16, 2014, 08:13 PM
I don't think he's an attorney. There's a pretty clear disclaimer on that web site that says there's no attorney-client privilege, and that if you need legal assistance, seek out an attorney in your area. I would not recommend using whoever this site is owned by for an NFA trust when an error could invalidate your transfer and ownership of a very expensive toy.

On the other hand, if you really don't want to spend any money, I have a buddy down at the local tire store who sells trusts for $19.

Elkins45
April 16, 2014, 08:27 PM
Not to sound snarky, but for $101 more my trust was prepared by Aaron Baker who is an attorney licensed to practice law in my state of residence. I consider it money well spent to have a legal instrument prepared by an actual lawyer who actually graduated from law school.

Some things shouldn't be measured by cost alone: wonder how many guys would line up for the $99 vasectomy clinic?

Aaron Baker
April 16, 2014, 09:34 PM
Thanks for the vote of confidence, Mr. Elkins.

wonder how many guys would line up for the $99 vasectomy clinic?

I know I wouldn't!

Look, I know there are lawyers out there who charge $500+ for a trust, and I don't blame anyone who hesitates to pay that much for the service. I'm not saying it's never worth it, but I set my prices low for a reason. I think a lawyer with NFA experience can draft a good trust for a couple hundred dollars. What I don't understand is paying that kind of money to someone who isn't a lawyer.

Aaron

Arizona_Mike
April 17, 2014, 11:19 AM
As someone who did a lot of research before doing my own trust (Quicken Will Maker plus detailed NFA instructions for the successor trustee and trust termination language) for my simple situation (widower living alone) I can't recommend paying anyone who is not a lawyer, let alone $200.

When I remarry I plan to get a sophisticated restatement from a professional and it will be worth the money.

Mike

pdxgrax
April 18, 2014, 03:15 PM
Sorry in advance for the long post.... but...

I have been researching gun trusts now for nearly 6 months. I have reviewed actual gun trusts from lawyers that practice estate planning and lawyers that are well versed in NFA gun trusts. I recently reviewed two trusts put together by a certain well known lawyer that specializes in gun trusts. In all, I've reviewed a total of 14 NFA gun trusts prepared by a total of 7 "gun trust lawyers, 2 self prepared "will planner/estate planner" type trusts, and 5 "document services." I am not naming any of the service/lawyers that I researched as I did not end up purchasing from them.

After reading through all of them, I found that the document services and the lawyer prepared documents are nearly identical in the information they contain. 6 of the 7 lawyer prepared trusts were revocable and the 7th was non-revocable (that's a personal choice for the settlor). The DIY estate planner/will planner docs lacked some of the legal mumbo jumbo that I found in both the document service trusts and the attorney prepared trusts... so I shied away from those.

I contacted the offices of the lawyers from the trusts I reviewed and I was given quotes ranging from $300 to $1200+ for my purposes (I wanted the ability to amend without having to meet up with an attorney, the ability to add and subtract co-trustees and beneficiaries as time goes on, and the ability to add NFA items on my own).

Ultimately I chose the 199trust option after having spoken with Eric on the phone and after having reviewed a few of his trusts. No, he does not claim to be an attorney. However, his documents are clear and concise and contains all the same info that I found on the other lawyer prepared docs and the other document service providers.

I paid $99 for it and I am extremely pleased with how it came out and how quick. He also provides additional forms that you can print out as needed as you add items or make amendments as time goes on.

I am not a lawyer by any means. I am a 16 year veteran police officer and an avid gun enthusiast.

All of the trusts that I had access to came from: Class II dealer friend of mine (who has dealt with document prep services and attorneys), other police officers (who have used both types of services), 2 lawyer friends (1 deputy district attorney who used a document prep service and 1 corporate attorney who used another attorney).

If you have any questions about my research, feel free to shoot me a message. I feel pretty confident about this and I'm getting excited to start adding to my collection now that my tax refund has arrived.

wally
April 18, 2014, 05:47 PM
I have been researching gun trusts now for nearly 6 months.

This is what I wanted to avoid. We have a pre-paid legal plan at work. Used them to do my trust along with other routine personal legal matters -- wills, medical power of attorney, living wills, etc.

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