Why use a trust?

[HydroAuto]

1. Is it possible to remove all of the other trustees from your trust, purchase a new item, and re-add the trustees after the paperwork clears?
2. If so, how would I go about doing this?
3. Can I do it on my own, or does the attorney have to do it?

1. Yes
2. Write an amendment to your trust removing the other people (trustees/co-trustees) Submit that with your next Form 4. After approval you either write an amendment to add them back in, or simply shred the prior amendment.*
3. Depends. How comfortable are you with writing amendments, and do you want to risk having your Form 4 rejected or delayed for clarifications?
3a. Who wrote your trust?

 

[Lazarus]

1. Yes
2. Write an amendment to your trust removing the other people (trustees/co-trustees) Submit that with your next Form 4. After approval you either write an amendment to add them back in, or simply shred the prior amendment.*
3. Depends. How comfortable are you with writing amendments, and do you want to risk having your Form 4 rejected or delayed for clarifications?
3a. Who wrote your trust?

Technically you can't just shred the amendment and pretend it didn't happen. You have to write another amendment to reinstate trustees or nullify the first amendment. Each amendment becomes part of the trust.

Now will they know if you just shred it? Not sure but its not the correct way to do things.

 

[HydroAuto]

Technically you can't just shred the amendment and pretend it didn't happen. You have to write another amendment to reinstate trustees or nullify the first amendment. Each amendment becomes part of the trust.

Now will they know if you just shred it? Not sure but its not the correct way to do things.

I know what you mean, but my comment was based upon what Dean's instructions said.
Ref: https://www.theoutdoorstrader.com/threads/heavy-d-trust-amendment.1503706/page-2#post-7492222

 

[Lazarus]

I know what you mean, but my comment was based upon what Dean's instructions said.
Ref: https://www.theoutdoorstrader.com/threads/heavy-d-trust-amendment.1503706/page-2#post-7492222

Funny I was actually looking for that post. I forgot he said that. My statement was found an a different attorney's website which makes more sense to me but I much prefer Dean's method. LOL

 

[HydroAuto]

I know, right? I mean its such a tangled web that's been woven when it should be free of any encumbrances in the first place, SMH.

I was reading a discussion about the National Reciprocity Bill that's about to be passed. A lot of people are like "Yay!" But now the Fed is about to claim the power to set guidelines on state carry permits and states have basically lost any semblance of sovereignty they had on the matter. And again, government taking power that has not been constitutionally granted to it.

 

[Lazarus]

I know, right? I mean its such a tangled web that's been woven when it should be free of any encumbrances in the first place.

So true.

Do you know if that amendment gets approval?

 

[HydroAuto]

Which amendment? For trusts? I don't know for sure. Assuming it was a logically run legal business I would think that any trust submitted to the ATF for review & approval would be filed with all amendments as part of the original document. Whether being scanned and sent to a datacenter, or simply put in hanging folders in a filing cabinet in a warehouse like shown in the Indiana Jones movies, which might explain some of the wait times, but I digress. I only dabble a bit in contractual issues for my work, but to me, the idea of shredding an amendment just sticks out like a splinter on an otherwise smooth board.

Then again, if the core of the trust is sound, and amendments are simply changing out things like addresses and parties to the trust, it might not mean as much. But again... those are all core elements* of a legal document, so I'm not sure how one can legitimately make it *poof* and disappear.

*Are the parties all eligible? Are the NFA devices otherwise legal in the jurisdiction where the trust is formed? These are the base issues in the NFA approval process.