Keeperfaith
Member
- Joined
- Dec 30, 2010
- Messages
- 235
Newbie question, I just obtained my trust. I went to the bank to open an account for the Trust. They kinda freaked out and didn't understand what an NFA Trust is, they kept saying this is new and/or they've never heard of such a thing...They didn't allow me to open an account becuase they one: didn't know what it's all about and two: my brother (a trustee) was not present (I totally understood).
What is the bank account for? My understanding is that it is just placing property under the name of the Trust to make it valid... Am I mistaken?
How/what do I explain to the bank employees this point (if I'm correct) so that they understand. They thought the account was solely for the purpose of buying guns. None of them had any idea what an NFA item is.
Do I need to use the bank account funds to pay for the tax stamp?
Thanks guys,
Steve
What is the bank account for? My understanding is that it is just placing property under the name of the Trust to make it valid... Am I mistaken?
How/what do I explain to the bank employees this point (if I'm correct) so that they understand. They thought the account was solely for the purpose of buying guns. None of them had any idea what an NFA item is.
Do I need to use the bank account funds to pay for the tax stamp?
Thanks guys,
Steve