Trust with Trustees out of state?

[No2sc2]

Is it possible to have a GA Trust but have Trustees that reside in other states?

 

[azb]

Sure, why not?

Now whether or not they can take possession of NFA items is completely dependent on local laws. But they can be trustees.

Az

 

[zesty]

yes, my will is setup with trustees that are out of state

EDIT: Just realized this is in the Class III forum so, my post is irrelevant. and dumb. sorry.

 

[Twitch2120]

just make sure they could fulfil the federal requirements. no felonies/ 21 yrs old / etc. just make sure atleast one of them can own them in their state. in the event you kick the bucket someone should be able to take the trust.

 

[No2sc2]

Thanks!

 

[azb]

just make sure they could fulfil the federal requirements. no felonies/ 21 yrs old / etc. just make sure atleast one of them can own them in their state. in the event you kick the bucket someone should be able to take the trust.

You should check with your lawyer because this is not legal advice, but it is my understanding that in the case of a trustee getting items to the benficiary after the grantor's death, that the trustee has a certain amount of time to fulfill his duty and would not be liable to local laws about his possession of those items. This would not cover taking the items to the range and shooting them, but would protect the trustee in the process of transferring and transporting to the trustee.

There are similar protections for executors, although they typically have less responsibility.

But this is one of the reasons my trust states that if a trustee becomes a felon or is otherwise not legally able to possess NFA items, they are to be no longer considered a trustee even if they are named as such in the trust.

Az

 

[Twitch2120]

this might be so but dealing with the legal headache of trying to keep things you cant or wont use just seems like a bad thing to leave somebody.

kinda like, here, I'm dead, take these, pay legal fees and you cant ever use them.

 

[azb]

kinda like, here, I'm dead, take these, pay legal fees and you cant ever use them.

There are no fees to transfer an NFA item to a beneficiary, whether you use a trust or a will. The tax is not paid again unless the beneficiary wants to sell them. In the case of a will, it's a free transfer. The trust can be ammended to change the beneficiary to grantor/settlor. To make life easier for my beneficiary, I've already drawn up the ammendments and they're stored with the trust in a sealed envelope marked "to be opened upon my death". I've signed the ammendment, all the benficiary (or trustee if my beneficiary is unable to take possession) has to do is sign it, qnd paperclip it to the original copy of the trust. No lawyers, no probate judge, no ffl, no fees, no problems. Simple, fast, and free.

But you should consider your beneficiary. If they have no desire to own your stuff, there's not much reason to leave it to them. Find someone that appreciates them.

If you want to tackle this proactively, simply add a couple lines to your trust stating that if any named trustee should ever become legally unable to possess the property in the trust, they will no longer be considered trustees.

Az

 

[dep411]

Any one know of anyone in Cobb county to help me set up a trust. I was trying to contact mr King in Marietta with no luck. I think his law firm dissolved

Any help is appreciated

 

[Laxguy59]

Any one know of anyone in Cobb county to help me set up a trust. I was trying to contact mr King in Marietta with no luck. I think his law firm dissolved

Any help is appreciated

Kings trust is now posted up on Nfatalk.org sign up there and just fill it out yourself.