LGS Class III or Attorney for NFA Trust setup

[Osprey]

I read on another thread (can't find it now) about using a Class III LGS instead of an Attorney for doing the NFA Trust. I'm sure both sides offer pros and cons. In addition, I assume neither one is faster than the other. My question then would fall into cost and service.

I am looking into getting a Trust but want to make sure I use the one that offers the most versatility. For example, if I were to use an LGS, does that mean I am stuck with using that LGS and cannot go to another one without having to setup paperwork again? If I decide go with a LGS Class III vendor, is there a cost to filling out the NFA Trust if I buy from them versus paying an attorney instead which would cost?

How about these other questions that I have? Can anyone(s) please enlighten me? Thank you.

1. Who holds the NFA Trust? Do I get a copy of it or do I get the original?

2. Are there any additional charges if I wanted to add or remove names on the Trust?
What about when I need to add an item to the Trust? Is there additional fee for it?

3. Do I have to add every name for users that I allow to try any NFA item I have. I thought as long as I was present, it would be alright.

4. How long does the process take to get approved?

5. Do I need to buy something right now if I want to do a NFA Trust?

I'm sure I'll have more questions, but I figured this would be a good start.

 

[Bfish]

1. Who holds the NFA Trust? Do I get a copy of it or do I get the original?

If you create the trust you will be the "holder"

2. Are there any additional charges if I wanted to add or remove names on the Trust?
What about when I need to add an item to the Trust? Is there additional fee for it?

This depends on what lawyer you use etc. There wouldn't be a charge for adding items though, just possibly an amendment of it.

3. Do I have to add every name for users that I allow to try any NFA item I have. I thought as long as I was present, it would be alright.

The people on your trust are those who may have access to the items without your presence. Technically the trust owns them and they are a member of it or another owner of the item.

4. How long does the process take to get approved?

I assume you mean how long would it take to get your trust prepared. This doesn't take long at all. As far as NFA items being approved, it can vary greatly.

5. Do I need to buy something right now if I want to do a NFA Trust?

You don't have to buy something immediately after having your trust set up.

I am not saying all of these answers are perfect by any means. However, I would recommend contacting Marc Halata. He his a member here that many of us have used with great success and he can certainly answer all of your questions as well as set you up with a trust. He is a lawyer... halatalaw

 

[Osprey]

Thanks Bfish! I will contact Marc. I have seen Kirk Freeman's name as another contact as well and I believe he is in Lafayette. Is Marc in Indy? I am in Indy so it would be nice if he was within driving distance.

 

[SteveM4A1]

Mark is in Greenfield I believe. Excellent source of info.

 

[Bfish]

He is in the Indy area. I am about an hour from him but he did all of my stuff without me ever driving to him. I sent him my info and he set it up. Quick, easy and painless...