Why is 199trust.com so cheap compared to others? Am I sacrificing something?
Why no phone support?
I’ve been researching online and I’m really confused about how Gun Trusts work, are they complicated?
Are there any recurring or annual costs to a gun Trust?
How many NFA Trusts have you done and how long have you been in business?
A: We started doing NFA Trusts in August of 2012 and as of recently we’ve done over 20,000 NFA Trusts and have never had one denied or delayed by the ATF. Not convinced? Click HERE to see what a random sampling of our customers think our service
Can I use the Trust for more than one item?
Can minors be beneficiaries?
A: Yes absolutely! Should you pass before they turn 18, the items will be held for them by a Co-Trustee (or the Successor Trustee) until they turn 18 and can take proper distribution of the item(s) that you wish to leave with them.
Can I add ‘authorized users’?
A: Yes, they’re called Co-Trustees and must sign and notarize as responsible parties to the Trust. This is one of the major differences between an NFA-specific Trust and other non-specific Trusts. (*Side note* If you see a Trust service or lawyer that is creating documents that allow people only listed as beneficiaries or anyone other than a Co-Trustee to possess the NFA items in the trust…. run far and fast because they likely don’t know what they’re doing)
Is there a limit to the number of Co-Trustees?
A: No limit, however, keep in mind that they need to sign and notarize the Trust initially. Also an important consideration is the 41F requirements for every co-trustee (aka responsible person) to submit fingerprint cards and photographs (see HERE for more info on that). We include amendment templates for you to amend the Trust at your convenience to make these and other changes down the road. It’s simple to do so don’t feel like you need to include the extended family off the bat, remember our Trusts are flexible in the future as a rule.
Can a Co-Trustee live in another state?
A: Yes they can, no problem. If they are going to possess the items in that state however you will need to consult the NFA laws in that state to make sure it’s legal. Also anytime you’re moving NFA items to another state (temporarily or permanently) look into submitting an ATF form 5320.20 to notify the ATF of the relocation of the items.
Who can use the item without me being directly present?
Do I need to open a bank account for the Trust?
A: You do not, in fact most people we talk to choose not to because they are using an NFA Trust to make life easier, not add complication. However if you wish to open a bank account, the Trust documents you will receive are suited to do so. You’ll simply need to get an EIN (employer identification number) which you can get instantly online through the IRS website.
Are your Trusts multi-generational?
A: No, they are living revocable Trusts. Multi-generational Trusts are a bit fickle and to be honest, gimmicky, especially when it comes to NFA Trusts. With 41F regulations and property able to be passed down tax free to beneficiaries (via ATF form 5), Multi-Generational Gun Trusts are pointless and overly complicated.
Can I change my Trust in the future?
When do you add items to the assignment sheet?
A: Simple, when you physically possess the serialized property. For example, if you are doing a form 1 (or eForm 1 through the ATF website) and making an SBR, you already possess the lower receiver so you can assign it to the Trust before submitting the form 1 with a copy of the Trust.
Conversely, when you are doing a Form 4 (for something you are buying from a dealer or another individual) you will not possess the item until the form 4 comes back with the stamp approved and the item is released to you. More importantly you will not add the serial number of the form 4 item you are transferring until it is released to you and in your possession.
I’ve heard about adding property to the assignment sheet such as a 1 dollar bill so as not to send it in blank, is that true?
Make: US Federal Reserve
Model: $1 bill
Can I add minors as Co-Trustees?
I have a specific question about the NFA, can you help?
A: We will do our best and are knowledgeable, however, the best resource for pointed NFA information is to call the ATF’s NFA branch at 304-616-4500. Don’t be scared, they’re all cool cats up there and often go out of their way to make sure you’re taken care of and well informed.
I just received my Trust, what now?
Once you have the docs signed and notarized you may submit a copy of the Trust paperwork along with the ATF form 4 or 1 and form 23 (with prints/photos) to the ATF when you’re ready to go arrange for purchase of your NFA item. Otherwise there is no other submission of the Trust documents to the ATF. Your local Class 3 dealer will be helpful with the paperwork needed.
Do I need to register the Trust with my state?
Lookup and call your county/parish/borough or state records office and see how (if need be) you can register your newly minted Trust. If needed, the process will be simple.