This week I have received two trusts from potential clients who sent them in for review that were invalid. Even if ATF approved a Form 1 or Form 4 transfer to these trusts, anyone in possession of the TItle II firearms would be illegally in possession of them. Once person already had 3 items in their possession and 2 more on the way.
Both trusts claimed to be gun trusts but were obviously not intended for firearms much less those subject to the NFA and contained many of the traditional language found in a trust designed for managing financial assets.
While in some ways the language seemed to be slightly better than a Quicken trust (except for the fatal flaws that made them defective) they only briefly mentioned the NFA or guns in the trust and gave no guidance based on state or federal restrictions of firearms based on the geography of the transfer or the legal status of the people involved with the trust or whether the beneficiary was legally able to be in possession of the firearms based on the unknown circumstances of the future. While all of this may sound complicated, a real Gun Trust like one provided by a Gun Trust Lawyer® will deal with all of these issues and more.
Our trusts have been reviewed by hundreds of estate planning and firearms lawyers. If you have a "free gun trust", "Gun Store Trust" or trust that you are concerned may not protect your and your family, send it to us and we will review it and let you know what type of problems you may face. Normally we charge for reviewing other trusts, but for the next 30 days we will review them free of charge under the federal laws.
Some common things to be concerned about.
1) I got my trust off the internet
2) your trust references laws of another state
3) your trust is less than 15 pages
4) your trust did not come with a detailed manual on how to make purchases or who can use the items
5) your trust does not contain the Registered trademark Gun Trust Lawyer®