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Old 05-21-2013, 9:24 AM
CAL.BAR CAL.BAR is offline
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Quote:
Originally Posted by Grendl View Post
I was one of the attorneys in attendance at that meeting.

We concluded it is NOT illegal to put firearms in a trust, but it is probably illegal to put them into a trust with two trustees. The government currently does not allow for or recognize community property ownership of firearms. The form one completes to report an inter-spousal handgun transfer, BOF 4544A, does not provide an avenue for the transferring spouse to maintain any interest in the transferred gun.

The result is probably that each spouse should disclaim their interest in the other spouse's firearms using a properly drafted property agreement, and then place their separate property firearms into their firearm trust wherein they are the sole trustee.
Grendel - first PM me to discuss. I also do these NFA trust and am also on the Galguns legislation and litigation teams.

For these purposes however, your analysis fails to acknowledge the distinction between LEGAL ownership and REGISTERED ownership. Your example of community property is most apt Even though the 4544a doesn't allow for more than one REGISTERED owner - you had better believe that STATE community property law recognizes a spouses LEGAL ownership interest in that huge firearms collection worth tens of thousand of dollars (right?)
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