"NFA Trust"

[Charger442]

Under Texas law, a trust isn't valid until it owns something. I know people who have given their trusts 20 dollar gold peices or just about anything. A dollar bill is small, trivial and easily replaced. But it serves its purpose.

Maybe you should get educated before you criticize.

 

[kimbershot]

yes, trust should have "assets" identified. i am pending on a form 1 build--expect stamp in may according to atf. my trust has 10.00 cash and i will add the my sbr as soon as stamp arrives.

 

[hentown]

Under Texas law, a trust isn't valid until it owns something. I know people who have given their trusts 20 dollar gold peices or just about anything. A dollar bill is small, trivial and easily replaced. But it serves its purpose.

Maybe you should get educated before you criticize.

Requiring "consideration" isn't unique to Texas. It's just sophomoric silliness to attach a dollar bill to a trust. And yes, I do get my advice from real lawyers. AAMOF, I talked with a really well-educated lawyer this very afternoon about whether I should utilize a trust or my already-registered LLC for my next NFA purchase.

Yep, I really should work on my education. Hardehardeharharhar!