July 2007 Archives

July 30, 2007

Florida Gun Trusts or National Firearms Trust

If you live in a Jacksonville or another city in Florida where the Chief law Enforcement Officer (CLEO) will not or easily sign a Form 4, there are several solutions.

Jacksonville Gun Lawyer, Florida NRA trust, Gun Trust, Class 3 TrustTitle II Firearms (sold by Class 3 SOT dealers) include suppressors, , short barrel rifles, machine guns, and other destructive devices.

The most common solution is to create a revocable trust to hold title to the firearm or class 3 items you desire to purchase. There can be many problems with a typical revocable trust and firearms. Its best to use a Firearms Trust or NFA Gun Trust

A Gun Trust, Firearms Trust, Limited Liability Company, or Florida S Corporation is a legal entity established under state law. For NFA purposes many individuals prefer the a Revocable Trust over a corporation or LLC because it is less expensive to operate and provides privacy. Florida Business entities typically cost $150 a year for the state filings in addition to the cost of a CPA to prepare and file the federal filings. In addition, Florida Trusts don't require any disclosure or public filings. The lack of any required filings means, the only people who know the terms of the trust are those you choose to tell.

Although most Florida Revocable or Living Trusts can hold firearms or other class 3 items, many are not properly setup to deal with the issues involving firearms and other items which are regulated by the National Firearms Act (NFA). If the NFA is violated, the owners are subject to criminal penalties, substantial fines, and forfeiture of not only the class 3 items in question but all firearms in the possession or ownership. ($250,000 penalty, 10 years in prison, and forfeiture of items)

The gun or firearms trust must give the Trustee instructions and special powers so that they can legally manage for unplanned events. Weapons and other assets in a Firearms Trust can not be distributed like other assets upon the death or incapacity of the person who placed the items in the trust(The Grantor or Settlor).

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July 11, 2007

Florida Trusts & Real Estate

In Jacksonville or other cities in Florida, there are many advantages to using a Revocable Living Trust or Florida Land Trust to hold title to real estate. Dyches Broddiford has an interesting article dealing with many of these issues.

In summary a real estate trust provides:
- Privacy for the owners;
- Protection of the individual owners assets (in most circumstances);
- Ability to assign an interest without changing public records;
- Avoids Guardianship of the assets when a party is incapacitated;
- Guardianship of the trustee, trusts can provide for alternate trustees;
- Privacy while living;
- Probate is not needed upon the death of the owner; and
- No tax benefits

For more details click the link above or talk with a Florida Estate Planning Attorney or Jacksonville Living Trust Lawyer

July 4, 2007

Jacksonville Living Will Seminar

Jacksonville Estate Planning Law Firm will continue it community service project by adding 3 Living Will Seminars in the month of September. This program provides Free information and the chance to create a free Florida Living Wills, Florida Designation of Health care Surrogate, and a Hipaa Release.

Jacksonville, Jacksonville beach, Ponte Vedra Beach, PVB-on-beach.jpgOn September 11, 2007 at 11 A.M.
Riverview Center
Attn Ms Annie Henderson
9620 Water Street
Jacksonville, Florida 32208
(904) 765-7511

On September 18, 2007 at 11 A.M.
Wallace Small Center
Attn: Ms. Gloria Gregg
1083 Line Street
Jacksonville, Florida 32209
(904) 630-0724

On September 26, 2007 at 11 A.M.
Longbranch Center
Attn: Ms. Margaret Hampton
4110 Franklin Street
Jacksonville, Florida 32206
(904) 630-0893