A Gun Trust is different than a typical Revocable Trust. While it is possible to hold other assets in a NFA Gun Trust, we recommend that only firearms be placed in the trust. There is no reason to subject your other assets to the liability associated with the improper use, possession, or transfer of these items. No other trust begins to deal with the many unique issues of Title II firearms ownership, possession, transfer, and use. The NFA Gun Trust has been reviewed and modified by more than 75 Estate planning and/or Firearms law lawyers who are licensed in more than 40 states. Whether your goal is to purchase a single silencer or hundreds of Title II firearms, our NFA Gun Trust can be easily modified to address your specific issues.
There are many problems in using a traditional trust when dealing with firearms. Its not enough for a beneficiary to reach a certain age prior to distributing an asset like you would do with a couch, picture on the wall, or bank account. You must ascertain the geographic location of the beneficiary, determine whether the items are legal in that state, determine if the beneficiary is legally eligible to receive, own, or possess the items, and most importantly determine if the beneficiary is mature and responsible enough to be in possession of the firearms. We all know that one of the most important things with gun ownership is training. We would never hand a gun to someone without providing them instructions on how to use it, but that is exactly what we do when we use a traditional trust. In addition, we put our family members and friends at risk when they carry out the instructions in the trust because most trusts instruct the successor trustee to break them law, when holding, purchasing, or selling assets by not pointing out how these simple actions will violate the NFA and create criminal and civil liabilities for our family members. Above is only one of the many areas that illustrate why a traditional trust is not suitable for firearms, much less Title II firearms.
In addition to the many protections created for your family, a NFA firearms trust can help you acquire class 3 weapons without the need for fingerprints or CLEO sign off. Many CLEO's are refusing to look at Form 4's and/or Form 1's.
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with your specific situation so that we can address how a NFA Trust offers unique and specific protection for your family and circumstances.