Pirate 4x4 banner

1 - 11 of 11 Posts

·
Premium Member
Joined
·
876 Posts
Discussion Starter #1
Ok so going sown the seperation/ possible divorce road and i/we have a family gun trust, itbis a silencerco trust i did several years ago, her and i and our 7 year okd as a beneficiary when he is old enough.
Two suppressers and a sbr on the trust.
Any body been down the road on taking someone off the trust? And also how it may work with only me but my son listed as future beneficiary?
Will be talking to a lawyer familer with gun trust at a point but just looking for thoughts.
 

·
Surgical Shotgunner
Joined
·
15,752 Posts
Ok so going sown the seperation/ possible divorce road and i/we have a family gun trust, itbis a silencerco trust i did several years ago, her and i and our 7 year okd as a beneficiary when he is old enough.
Two suppressers and a sbr on the trust.
Any body been down the road on taking someone off the trust? And also how it may work with only me but my son listed as future beneficiary?
Will be talking to a lawyer familer with gun trust at a point but just looking for thoughts.
are you the settlor of the trust? is it a revokable trust?


i removed beneficiaries and trustees from my trust a couple of times with just me doing it with my lawyer. the removed trustees couldnt do or say anything.
 

·
Registered
'73 Scout
Joined
·
10,442 Posts
One thing that might get in the way is that while this is a method to allow multiple party use, unless worded specifically that it's not a marital asset, it may have to be sold as a marital asset.

That or come up with an agreed upon price and give the ex the equivalent of 1/2 the worth...and deal with the trust change.

If you happen to live in a state that doesn't do community property law then its moot, do what Texas97 suggests.
 

·
Premium Member
Joined
·
876 Posts
Discussion Starter #4
are you the settlor of the trust? is it a revokable trust?


i removed beneficiaries and trustees from my trust a couple of times with just me doing it with my lawyer. the removed trustees couldnt do or say anything.
Im not really sure to be honest, i havent looked at it since did it. I will have to check.
 

·
Registered
Joined
·
718 Posts
Ok so going sown the seperation/ possible divorce road and i/we have a family gun trust, itbis a silencerco trust i did several years ago, her and i and our 7 year okd as a beneficiary when he is old enough.
Two suppressers and a sbr on the trust.
Any body been down the road on taking someone off the trust? And also how it may work with only me but my son listed as future beneficiary?
Will be talking to a lawyer familer with gun trust at a point but just looking for thoughts.
The state laws in which it was created in will sorta dictate the terms of settlement if divorce happens.

She may sign-off without any complaints if divorce is amicable.
At worst you may have agree to some stipulations to get her signature that releases her interest in being on the trust.

And then you'll have gun trust lawyer update gun trust so that it is current with son and minus her.


_
 

·
Premium Member
Joined
·
876 Posts
Discussion Starter #7
New mexico state, she doesnt really care about the trust, not a big deal to her, and hopefully it should all be friendly, no real reason for it not to be and both want whats best for our son which deeply involves being amicable about everything.
I guess my biggest question should be moreso how can I protect my son and his rights to the trust being a minor and beneficiary, if somethi g was to happen to me before he is of age to have any of the toys i am understanding i would need someone else on the trust to hold them for him till of age.?
I have two people i would have no problems at all with being on it and trust them to do right for my son, but due to being young and dumb years ago they both have felonies so that puts them out of being able to do it.
 

·
Registered
Joined
·
17,017 Posts
New mexico state, she doesnt really care about the trust, not a big deal to her, and hopefully it should all be friendly, no real reason for it not to be and both want whats best for our son which deeply involves being amicable about everything.
I guess my biggest question should be moreso how can I protect my son and his rights to the trust being a minor and beneficiary, if somethi g was to happen to me before he is of age to have any of the toys i am understanding i would need someone else on the trust to hold them for him till of age.?
I have two people i would have no problems at all with being on it and trust them to do right for my son, but due to being young and dumb years ago they both have felonies so that puts them out of being able to do it.
I would name the executor of your estate as a trustee with limited authority over the property. Leave the safe in the house, where the secured guns are as close as possible to being in the possession of your minor child, while the executor/trustee retains the combination to the safe.
 

·
Premium Member
Joined
·
5,557 Posts
Have you thought about using an attorney as an executor? If only for a while, it might be a good solution.
 

·
Premium Member
Joined
·
3,040 Posts
The executor doesn't need to be on the trust.

Just dealt with a friend who died with nfa items. The executor was instructed by the ATF to hold items until they could be sold/transferred and the new stamps came back to him.

Now, I wouldn't list anyone with felonies as an executor myself, but that may not be a good idea.
 
1 - 11 of 11 Posts
Top