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"NFA Trust"

Discussion in 'NFA Firearms and Accessories' started by M G, Feb 19, 2013.

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  1. Charger442

    Charger442 Member

    Joined:
    Jun 19, 2009
    Messages:
    264
    Location:
    South Texas
    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.
     
  2. kimbershot

    kimbershot Member

    Joined:
    Jul 22, 2008
    Messages:
    340
    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.
     
  3. hentown

    hentown Member

    Joined:
    May 13, 2012
    Messages:
    1,742
    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!
     
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