View Full Version : Starting a trust w/ 3 people?
Let me start by saying, I am just starting to learn about trusts. So it may be a stupid question, but I'm tring to get going in the right direction before the $250.00 hr Lawyer gets his teeth in me. Much thanks for any info.
I want to start a trust mainly so I can get some cool new toys.
Can this be done with more than 1 person. If something where to happen to me, how do I insure that the items go/ stay with the person of my choice.
If I formed a trust with a partner could either one of us take Items to the range, or is it a one person deal.
April 20, 2008, 07:44
Thier can only be one said named person on the trust as the executer of the estate/will unless your state laws are different. You can have as many people as you want to give your posessions away as allowed by state law. Just make sure their allowed to have the items especially if their in a different city,county or state that will allow said items like NFA weapons and devices to be privately owned. Their was an artical on just said issue in small arms review a while back written by an attorney who practices weapons law and Living will trust laws. I'll see if I can find the article later today and let you know which issue its in. Usually its better off to have the estate sold off as this way theirs no fighting amongst familiy or friends when an estate's will is read as in most states if someone contests the will the estate person in charge has to use estate funds to fight the lawsuit which the attorneys will bleed dry if they think they can get away with it. You have to check your state laws which you should be able to do on line as most states attorney offices don't want to give you the right time of day and will say go consult an attorney.
I'm all that's left, so I was planning on leaving it to the children of a couple friends( good kids). With all the issues I have delt with in settling estates I thought this would make it easier, guess not.
If you find that article I would like to read it.
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