Atty who did my NFA trust has been suspended. Is my trust still valid? - Page 2
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Thread: Atty who did my NFA trust has been suspended. Is my trust still valid?

  1. #11
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    Quote Originally Posted by LittleGator View Post
    Blanca,

    You are good to go. The attorney's current troubles have nothing to do with the validity of your documentation. Assuming your documentation went through correctly to begin with(payment/fees, etc.).

    This ^^^^ As long as the checks written to file your trust paperwork went through O.K., your trust is perfectly valid.

    My wife and I (plus some good friends and partners) had the misfortune of using an attorney (many years ago, in a land far, far away) who filed our incorporation papers with a check that was rejected for lack of sufficient funds. We operated our businesses for quite some time (could have been almost a year) without valid incorporation papers. The same attorney had been designated as the contact for any legal actions pertaining to the corporations - needless to say, we never received any of the notifications of problems with the incorporation papers.

    Had our friends not had a question about something relating to their corporation and called the relevant state office, it would have been even longer before we found out we were operating illegally.

    An amusing side note -
    the day we found out our incorporation papers were invalid my wife was making phone call after phone call to the attorney's various numbers - for some reason, he finally answered one of her calls. Her immediate greeting was "Pat G----, you M----- F------ SOB, what the H---. . . . ." (and, it went downhill from there).
    It just so happened that one of the other brokers working in the offices with us was in the conference room with clients (the conference room was adjacent to my wife's office!)
    They heard this rather loud and profane conversation (before the conference room door could be closed) and looked askance at their broker.
    Their broker sort of shrugged and said something along the lines of "Oh, it's nothing; she's just talking to her lawyer."
    The clients just quietly said, "We want her handling our transaction."

    You shouldn't have any problems with your NFA Trust. Might not hurt to double check if it is all squared away.
    Last edited by collegeboy; 05-24-2015 at 11:50 PM.
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  2. #12
    Distinguished Member 7.62Kolectr's Avatar
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    Quite strange how his website is shut down.
    Not really familiar with attys and their practices but in reading the article it doesn't really seem like he did something that bad.
    Just borrowed a little bit from one trust to pay another. Obviously not right. But not like he killed anyone.
    But the Florida Bar assn didn't take kindly to it I guess.
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  3. #13
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    Quote Originally Posted by Blanca Busa View Post
    Quite strange how his website is shut down.
    Not really familiar with attys and their practices but in reading the article it doesn't really seem like he did something that bad.
    Just borrowed a little bit from one trust to pay another. Obviously not right. But not like he killed anyone.
    But the Florida Bar assn didn't take kindly to it I guess.

    Trust funds are a fiduciary responsibiity on the part of the Trust holder to the one putting the funds in trust. Even allowing co-mingling of the Trust Funds with the operating funds of the company is a serious offense - let alone actually using any of the Trust Funds for purposes not included in the Trust documents.
    "The government that cannot protect the public must not strip them of the right to protect themselves." - M. Ayoob, In the Gravest Extreme

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  5. #14
    Distinguished Member bladenbullet's Avatar
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    Quote Originally Posted by Blanca Busa View Post
    Quite strange how his website is shut down.
    Not really familiar with attys and their practices but in reading the article it doesn't really seem like he did something that bad.
    Just borrowed a little bit from one trust to pay another. Obviously not right. But not like he killed anyone.
    But the Florida Bar assn didn't take kindly to it I guess.
    he allegedly broke the law...he is not allowed to touch the money in a trust....if it was short that didn't happen....robbing a bank or running a Ponzi scheme isn't killing anyone either...but they are against the law...
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  6. #15
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    He also didn't reply...

  7. #16
    [QUOTE=collegeboy;758483]This ^^^^ As long as the checks written to file your trust paperwork went through O.K., your trust is perfectly valid.

    ???? Just exactly where do you think your trust is filed ? State, County ?

  8. #17
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    Misappropriation of trust funds is one of the leading reasons for disbarement in FL.
    As mentioned previously, so long as he was disbarred for that reason alone, there should be little concern as to the legitimacy of his work. I would take this opportunity to review your trust though. A lot of times attorneys use boilerplate trusts and fill in the blanks which may lead to an oversight here or there.
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  9. #18
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    Quote Originally Posted by collegeboy View Post
    This ^^^^ As long as the checks written to file your trust paperwork went through O.K., your trust is perfectly valid.
    Ehhh...not quite. Allegedly, invalid trust have been known to pass ATF examiner scrutiny only to be declared invalid later.
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  10. #19
    Quote Originally Posted by 305 View Post
    Ehhh...not quite. Allegedly, invalid trust have been known to pass ATF examiner scrutiny only to be declared invalid later.
    Asking again....? What evidence is there Trusts are recorded anywhere ?
    No pages with a Documentation Stamp or receipt of Clerk of the County Court where recording fees were paid.
    The only stamp is from a Notary Public.

  11. #20
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    Quote Originally Posted by Number1gun View Post
    Asking again....? What evidence is there Trusts are recorded anywhere ?
    No pages with a Documentation Stamp or receipt of Clerk of the County Court where recording fees were paid.
    The only stamp is from a Notary Public.
    Wth are you talking about? You don't record the trust, AT ALL with the county.

    When you send if your Form "X" to the ATF, you attach a copy of the trust for the ATF to review. Where it ends up after that is beyond me but Im sure the .gov keeps a copy of it as people have (allegedly) been contacted by the ATF AFTER they received approvals to correct deficiencies within their trusts.

    Are you of the mindset that the fed. government does not keep a copy of it?
    Last edited by 305; 05-25-2015 at 12:08 PM.
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