Author Topic: Life After Marriage...  (Read 2258 times)

LegalRights

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Life After Marriage...
« on: November 27, 2014, 01:02:02 AM »
My (now) husband and I had created our own NFA trusts well before we got married. However, now I am trying to determine the best way to amend my Trust (and his) so that we are the Primary Beneficiaries on each other's trust.  Do you have any suggestions for how this should be handled? Is it as easy as adding an amendment, modification, or addendum to update the Primary Beneficiary?

I have read that I am unable to change the name on my trust without creating a new trust. Is this true?

What is the best way to update my address as listed on the trust?

And if it's ever possible to include a series of FAQs about things to consider when marrying a gun owner or as the gun owner (i.e. links to forms to change your name on your CHL, updating your NFA Trust information, suggestions on Will and Testimate updates, links to add your spouse to your Texas Law Shield account, etc.) would be very helpful. I've had a difficult time finding some of this information on the Internet.

Thank you!!
« Last Edit: December 31, 1969, 06:00:00 PM by Guest »

TexasLawShield

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Re: Life After Marriage...
« Reply #1 on: December 03, 2014, 03:09:50 PM »
The best way to amend your trust in order for spouses to now be beneficiaries and (I assume) co-trustees, is simply to create an amendment that substitutes the old provisions for new ones.  An amendment is a new, separate document that must be executed with the same formalities that are involved in creating the trust.  This will assure its legal effectiveness in the event the trust is ever challenged.  Also, the name of a trust can be changed with an amendment.  However, a trust that is already the owner of NFA items cannot do this, not because of trust law, but because the ATF has registered a particular NFA item with a particular named trust.  A new trust name would probably require a new transfer application and a new tax.  This would seem to be unnecessary if your only purpose is just to give your trust a new name.   If you are changing the situs (where the NFA items are kept) of the trust then you should notify the ATF in writing with a list of NFA items that will be located at the new address. Other than that there is no requirement that your trust have an address.  Thank you for the suggestions, but remember, a trust is a separate legal entity and as such, is generally not effected by the change in marital status of its settlor.   It may however, become an issue if community property funds are contributed so that the trust can buy new NFA items.  If this occurs a notation should be made for the trust's files that any funds received from any source are made as a gift with no marital property interest in the NFA items.
« Last Edit: December 31, 1969, 06:00:00 PM by Guest »