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Posted: 8/9/2013 8:52:11 AM EDT
| I'm doing my first SBR build, and I'm running into some problems. I would like my wife to be able to have access to, use and if necessary obtain ownership of my SBR in the event of my passing. I understand this is easy enough to accomplish going the trust route, but that route includes a whole bunch of "Bravo.Sierra" because i live in Louisiana. Louisiana still has Napoleonic laws that confound the process. From what i understand, writing up the trust my self is not an option here, so I'm looking at a hefty fee just to have it written up. The best quote I've gotten so far is 600$ for the trust, along side of a 35$ a year tax for the rest of my life.Yay! If anyone can point me to a trust lawyer (near the Ascension/Baton rouge area) with better prices than this i would greatly appreciate it! On top of this, I've read that Louisiana trust tend to be "Kicked back" by the ATF, so I'd like it if someone can provide me some insight on this before i waste my money on a dead end street. If anyone has had experience with gun trust in Louisiana I'd like to know how everything went..... If i decided to just get a sign off from my CLEO that would be allot less costly, and more streamlined, but then the problem arises of my wife using/obtaining ownership of the weapon if necessary. Is there any way to register the rifle in both of our names using this method? Any help is appreciated, Thanks! |
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Quoted:
I'm doing my first SBR build, and I'm running into some problems. I would like my wife to be able to have access to, use and if necessary obtain ownership of my SBR in the event of my passing. I understand this is easy enough to accomplish going the trust route, but that route includes a whole bunch of "Bravo.Sierra" because i live in Louisiana. Louisiana still has Napoleonic laws that confound the process. From what i understand, writing up the trust my self is not an option here, so I'm looking at a hefty fee just to have it written up. The best quote I've gotten so far is 600$ for the trust, along side of a 35$ a year tax for the rest of my life.Yay! If anyone can point me to a trust lawyer (near the Ascension/Baton rouge area) with better prices than this i would greatly appreciate it! On top of this, I've read that Louisiana trust tend to be "Kicked back" by the ATF, so I'd like it if someone can provide me some insight on this before i waste my money on a dead end street. If anyone has had experience with gun trust in Louisiana I'd like to know how everything went..... If i decided to just get a sign off from my CLEO that would be allot less costly, and more streamlined, but then the problem arises of my wife using/obtaining ownership of the weapon if necessary. Is there any way to register the rifle in both of our names using this method? Any help is appreciated, Thanks! if its possible to do for 600 i'ld go ahead and do it. You'll likely wind up with more NFA stuff before you die and it'll drastically cut down on BS for future purchases. Main thing is you have to fund the trust before sending it in. This can be a 1 dollar bill. |
| Thanks for the reply. 600$ isn't all that bad. I was searching forums for Louisiana gun trust today, and i seen someone say the NFA tends to "kick back" form 1's done using a LA trust. That would mean 600$ down the drain, but who knows if that is true. I'm hoping someone from Louisiana might share their experiences with using a gun trust for a form 1. Also i read for the first time about a 35$ yearly tax to own a trust in Louisiana, Maybe the guy was referencing an LLC. rather? I really hope so. |
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with regards to your concerns.......I believe that your wife can inherit it from you, in your passing, tax exempt on a Form 5. I think this is true of anyone that is a lawful heir. That doesn't resolve the issue of her being able possess it in your absence though. I MAY be mistaking on this statement, but it is what I read the other day on ATF's website. I posted the link for someone that had a similer question.
http://www.atf.gov/press/releases/1999/09/090599-openletter-nfa-estate-transfers.html I'm assuming that this applies to an NFA weapon on an "individual" form . |
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If you have a CLEO that will sign, all you have to do is draw up a will leaving the SBR to her and she will inherit it tax free after your passing.
$35/year tax??? Lousyana charges $35 a year for a TRUST?? As far as a cheaper trust, contact a local SOT dealer and see who they recommend as well as Lousyana HTF. If you run out of luck check with bigcbass or sc-Texas and see if they can help or recommend someone who can. Both of them are licensed attorneys. HTH |
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Hey OP. I just had a Trust created last week. An attorney in New Orleans did it and he was highly recommended. He deals alot with NFA trusts. Did it alot cheaper than $600. Shoot me a PM if your interested in his info. I had the trust in two days through email.
And there was no mention of a $35 a year tax. |
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