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silencerco nfa trust?
#1
http://www.silencerco.com/nfa-trust/

$130 for the trust package. Is this worth it? I am looking at three suppressors and the $200 eat shit stamp for each one is a big hangup. Will this trust be useful here in PA, or is it cheaper to go the lawyer route?
tolerance for failure meter... LOW
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#2
Ten*K;162297 Wrote:http://www.silencerco.com/nfa-trust/

$130 for the trust package. Is this worth it? I am looking at three suppressors and the $200 eat shit stamp for each one is a big hangup. Will this trust be useful here in PA, or is it cheaper to go the lawyer route?
Sorry bud but I dont know anything about this. Hopefully someone who does will come along shortly.
das, proud to be a member of pa2a.org since Sep 2012.
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#3
(02-27-2015, 09:58 PM)Ten*K Wrote: http://www.silencerco.com/nfa-trust/

$130 for the trust package. Is this worth it? I am looking at three suppressors and the $200 eat shit stamp for each one is a big hangup. Will this trust be useful here in PA, or is it cheaper to go the lawyer route?

Bottom line, personal ownership is superior. It is a huge pain with the fingerprints and LEO signoff, but legally speaking it is the most solid way to go.

You will not beat the $130 price by going with a lawyer. You will pay at minimum twice that amount. I have no doubt that the SilencerCo trust will give you exactly the same thing that you would get from paying a lawyer, a filled template that will suffice in getting you tax stamps. The difference will be the experience that you get working with a competent firearms lawyer, and any personal advice he or she may give. I don't think either approach will put you on more solid legal ground than the other.

I have been thoroughly convinced by Phil Kline (Gunlawyer on poofa) that going the corporate route is more "bullet proof" than trusts so to speak. The ATF approving your Form 1 or Form 4 does not mean your trust is a valid legal entity, it just means you filled out the paperwork correctly. How comfortable are you with the feeling of not knowing how your trust will stand up in court until you are standing before a judge? I'm certainly not an expert, but even I have seen enough evidence in documented cases that setting up a solid trust that will hold up before a judge is perhaps more complex than just filling out a one size fits all web form and clicking submit. With a corporation, once it is created at the state level, it is a valid legal entity, and that validation cannot be disputed.

How comfortable are you with the thought that thousands of people are using the same "template" for a trust, and all it would take is one of them winding up before a judge and having their trust ruled invalid to effectively make all trusts built on that template invalid and all those people in illegal possession of NFA firearms? It's a long shot I will admit, but are you comfortable with that?

I'm well aware my opinion here differs greatly from most of the NFA community that has gone trust crazy. I'm willing to admit it is entirely possible that Phil is just pitching propaganda to bring in business. He will tell you after all, going the corporate route naturally requires a specialized operating agreement built around NFA ownership. My advice to you is to contact Phil and let him give you his pitch. He will talk your ear off for free and I guarantee you will learn something. Contact Josh Prince as well, let him give you his pitch on trusts. Think it over carefully and figure out what is best for you.
The law? The law is a human institution...
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#4
I'm not saying they are good or bad (the ones that SilencerCo sells) but you can go to their web site and they explain the trust and tell about the arguments from a lawyer (why it's no good) and the explanations/counters from SilencerCo.

The other well used trust site is 199trust.com I have heard many good things about their trusts also. Typically these trust templates have been reviewed by lawyers and as far as I know, they are legal in all 50 states.
Xringshooter, proud to be a member of pa2a.org since Sep 2012.
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