In some ways, establishing trusts for NFA items is evolving legal territory, i.e. we're trying to stay one step ahead of the "best and brightest minds" in the BATFE (didn't those guys score lowest on the federal exam??
). My trust, at the time of submission to the BATFE last summer, was considerably more detailed than previous submissions from a few years ago. This was in response to the BATFE becoming more 'picky' about trust submissions once they became the rage in recent years. I suspect that my trust would not 'pass muster' at some future point in time and would have to be modified from current form, etc. etc.
I know it's comparing apples to oranges, but the Kennedy compound at Hyannis Port is trusted out the azz: every room is a separate trust, etc. That way, if Ted Kennedy had raped another woman on the premises the property was divided into so many trusts that an attorney would have had hell trying to sue and gain a piece of that place.
Of course, I don't have multiple attorneys on retainer, so my legal mileage 'doesn't have the juice' that the uber-rich have.
