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View Full Version : LIVING Trust??


Tru_blu1
01-23-2006, 05:21 PM
Does anyone know what it take to set up a revocable living trust in florida.... The reason i ask is was thinking of getting a suppressor for the 5.7 and the class 3 dealers i spoke with said that they can be transfered into a living trust and that the BATF doesnt take as long with this type of transfer... If anyone knows of this help me out.. thanks

btown02
01-23-2006, 05:46 PM
Does anyone know what it take to set up a revocable living trust in florida.... The reason i ask is was thinking of getting a suppressor for the 5.7 and the class 3 dealers i spoke with said that they can be transfered into a living trust and that the BATF doesnt take as long with this type of transfer... If anyone knows of this help me out.. thanks
As long as you've put it in your Will your "child" gets the transfer without a lot of delay. They still have to file the paperwork, but I think it will be tax exempt.

Nosferatu
01-23-2006, 05:50 PM
A living trust skips the LEO signoff that is typically required. Do a google search and a ton of info comes up on creating and managing living trusts.

tqtran
01-23-2006, 07:20 PM
Don't put it in a "Will" unless you want your child to pay probate. Put it in a trust to avoid all the taxes. Anyone receiving anything from a "Will" WILL (pun intended) be taxed. A trust just transfers it to a designated entity.
Just remember this phrase "Never TRUST a WILL with your $$$". A Will should be used for other things, not $. Remember that a Will has probate and items in the will can be contested where a trust has none of that.
Just my two cents, take it as you will.


edit: If you have a lot of assets to transfer then I would suggest setting up a Family Limited Partnership.

btown02
01-23-2006, 07:39 PM
Don't put it in a "Will" unless you want your child to pay probate. Put it in a trust to avoid all the taxes. Anyone receiving anything from a "Will" WILL (pun intended) be taxed. A trust just transfers it to a designated entity.
Just remember this phrase "Never TRUST a WILL with your $$$". A Will should be used for other things, not $. Remember that a Will has probate and items in the will can be contested where a trust has none of that.
Just my two cents, take it as you will.


edit: If you have a lot of assets to transfer then I would suggest setting up a Family Limited Partnership.
Good information. Thanks.