February 16, 2013

Presidents Day NFA Gun Trust Special

Wile many of our past Presidents have strongly supported our 2nd Amendment rights, our current President seems to want to restrict our rights. In honor of those who value our 2nd Amendment rights we are offering the following special.

If you are one of the many responsible gun owners who are interested in creating a Gun Trust to help protect and manage your firearms. We have created easy to use online system that creates a valid multi state Gun Trust for all of your guns, magazines, and firearms accessories. This NFA Gun Trust is also designed to purchase and manage Title II firearms that are sold by Class 3 dealers. In most states you will no longer need your CLEO to agree to let you exercise your rights to own NFA firearms.

This special anywhere from 1/2 to 1/3 off of the normal price of the Gun Trust with legal support. This special is for the Online Gun Trust and comes with very detailed instructions and examples including hyper-links to sample ATF Forms including Form 4, Form 1 and Form 20 which are used to purchase, make, and transport Title II firearms (Those restricted by the NFA). This Trust form can deal with people who live in multiple states and allow you to add additional authorized users to protect your family and friends from issues of constructive possession.

In most states many people are rushing to put their regular firearms in a Gun Trust in an attempt to protect their ability to allow children and grandchildren to use them when they are old enough and in an attempt to offer protections from pending legislation which would restrict the right to transfer firearms to future generations.

If you have more than $15,000 or $20,000 in firearms (including magazines, scopes, and other accessories), you may be interested in our Professional Gun Trust which can provide asset protection and multi generational insulation from legislative changes. There is a comparison of this trust in one of the articles below on this page.

The Gun Trust comes with detailed instructions and frequently asked questions that walk you through the process of creating and using you NFA Gun Trust. Remember this trust is not limited to just NFA firearms but is designed for all your guns.
If you want to learn more about this trust visit http://www.GunTrust.com.

This Gun Trust can be upgraded to our Advanced or Professional version. The online trust does not come with legal support like the other versions do. If you are interested in the NFA or Gun Trusts with legal support fill out the Contact Us form on this page and we will send you details on the options and pricing for your state including support by a lawyer who is licensed in your state..

If you want to take advantage of this offer, you must use the following payment option from PayPal. You can use and existing PayPal account, create one, or use a credit card without creating a PayPal account. No other payment methods are valid for this special. You will receive your code within a few hours. (If you use of a credit card without a PayPal account it can take longer if your billing address does not verify, we only receive your details once they have been verified and PayPal has approved your transaction)

February 12, 2013

My Bank Says They Do Not Open Accounts For Trusts

Occasionally we receive a call from a client stating that their bank does not open accounts for trusts. If you are having a problem, you might contact the following banks that do accept trust accounts. A word to the wise, I would not mention guns or firearms when talking with a bank as many will not open accounts for gun related issues.

Ally Bank http://www.ally.com/
They do both revocable trusts and Irrevocable trusts.
Monthly Fees: $0.00
Minimum Balance: $0.00
Required Information: Title Page, Signature Page, Notary Page, Amendments and your trust must be funded within 30 days
Fax to 866-699-2969

PerkStreet http://www.perkstreet.com/
They do revocable trusts and Irrevocable trusts.
Monthly Fees: $0.00
Minimum Balance: $0.00
866.792.2834

BofI https://www.bofifederalbank.com/
They do both revocable trusts and Irrevocable trusts.
Monthly Fees: $0.00
Minimum Balance: $0.00
Required Information: Title Page, all Signature Page, Amendments and you must complete a Act Vesting Change form.
(877) 247-8002

Connexus C.U. https://www.connexuscu.org/
They do both revocable trusts but not Irrevocable trusts.
Monthly Fees: Varies
Minimum Balance: $0.00
Required Information: Title Page, Successor Page, All Signature Pages, Notary Page, Amendments and membership application
800-845-5025

Everbank https://www.everbank.com/
They do both revocable trusts and Irrevocable trusts.
Monthly Fees: $0.00
Minimum Balance: $0.00
Required Information Revocable: Personal info for everyone on trust, definitions page, all signature pages
Required Information Irrevocable: personal info for everyone on trust, copy of entire trust.

January 31, 2013

Congress being bombarded with 27 new Firearms Bills

The 133rd Federal Congress is being bombarded with Firearms Legislation. (No pun intended)
One of the latest is Senate Bill 150 by none other than Sen. Diane Feinstein (D-CA)

The Firearms Policy Coalition has provided a nice summary of the 120+ bill that would almost restrict every firearm other than a revolver. I am sure that restriction will come in a second bill.

Summary: S. 150, among other things, would ban the sale, transfer, manufacturing and importation of:

  • All semiautomatic rifles that can accept a detachable magazine and have at least one "feature" (i.e., pistol grip; forward grip; folding, telescoping, or detachable stock; grenade launcher or rocket launcher; barrel shroud; or threaded barrel);
  • All semiautomatic pistols that can accept a detachable magazine and have at least one "feature" (i.e., threaded barrel; second pistol grip; barrel shroud; capacity to accept a detachable magazine at some location outside of the pistol grip) or that are the semiautomatic version of an automatic firearm);
  • All semiautomatic rifles and handguns that have a fixed magazine with the capacity to accept more than 10 rounds, except for an attached tubular device designed to accept, and capable of operating only with, .22 caliber rim fire ammunition;
  • All semiautomatic shotguns that have a folding, telescoping, or detachable stock; pistol grip; fixed magazine with the capacity to accept more than 5 rounds; ability to accept a detachable magazine; forward grip; grenade launcher or rocket launcher; or shotguns with a revolving cylinder;
  • All ammunition feeding devices (means a magazine, belt, drum, feed strip, or similar device) capable of accepting more than 10 rounds; and
  • Over 100 specifically named firearms.

Unlike the 1994 assault weapons ban, Senate bill 150 does not include a sunset possession that allowed the original federal ban to expire. The bill also requires a background check on all sales or transfers of grandfathered firearms; prohibits the sale or transfer of large-capacity ammunition feeding devices lawfully possessed on the date of enactment of the bill; allows state and local governments to use federal funding to buyback grandfathered assault weapons and large-capacity ammunition feeding devices; imposes a safe storage requirement for grandfathered firearms; and requires that assault weapons and large-capacity ammunition feeding devices manufactured after the date of the bill's enactment be engraved with the serial number and date of manufacture of the weapon. Assault weapons used by military, law enforcement, and retired law enforcement; antique weapons, and firearms manually operated by a bolt, pump, lever or slide action are exempted from S. 150.

If you do not have your guns and magazines in a Gun Trust, now is the time to get them in a trust. Also if you plan on buying threaded barrels now is the time to do that also, even if you build them up later. Ammo will come back down, but you may not have the opportunity to use a silencer if you can't purchase a threaded barrel.

There are a few organizations you can join to help fight overreaching gun legislation. By visiting the FirearmsPolicy.org webpage you can help support the following gun rights organizations. I recently joined all of them and would encourage as many of you as possible to join 1 or more.

Federal - Second Amendment Foundation (SAF) +$15.00
Federal - Citizens Committee for the Right to Keep and Bear Arms (CCRKBA)+$15.00
CA - The Calguns Foundation (CGF) +$15.00
CA - California Association of Federal Firearms Licensees (Cal-FFL) +$15.00
MA - Commonwealth Second Amendment (Comm2A) +$15.00
FL - Florida Carry, Inc. (FCI) +$15.00
HI - Hawaii Defense Foundation (HDF) +$15.00
IL - Illinois Carry (IC) +$15.00
NJ - New Jersey Second Amendment Society (NJ2AS) +$15.00
TX - Lone Star Shooting Association (LSSA) +$15.00
WV - West Virginia Citizens Defense League (WVCDL) +$15.00

Continue reading to see the other 26 firearms bills which have been introduced in the last few days.

Continue reading "Congress being bombarded with 27 new Firearms Bills" »

January 16, 2013

Executive Actions that cause concern

Here are several of the "Executive Actions" that may be a cause for concern that I received from the CCRKBA:


1. Address unnecessary legal barriers, particularly relating to the Health Insurance Portability and Accountability Act, that may prevent states from making information available to the background check system. -

This would make everyone's medical records available for the background check system. They could say if you are taking a certain type of medicine you are not able to purchase a gun.

2. Improve incentives for states to share information with the background check system.

Could this be incentives or penalties for states that don't cooperate?

3. Launch a national safe and responsible gun ownership campaign.

The NRA, hunter safety courses, and concealed weapons classes have been teaching this for decades.

4. Clarify that the Affordable Care Act does not prohibit doctors asking their patients about guns in their homes.

This executive action violates a current law against that says doctors may not ask their patients about guns.

5. Release a letter to health care providers clarifying that no federal law prohibits them from reporting threats of violence to law enforcement authorities.

This would be violating existing laws of doctor-patient confidentiality

6. Provide incentives for schools to hire school resource officers.

Give teachers the opportunity to volunteer to protect their schools through concealed carry permits. Criminals know schools are gun free zones.

I think the last one could be a good order if it will make schools not a gun free zone.

January 16, 2013

Obama's Gun Proposal being announced

President Obama is speaking about Guns at this time 12 PM and he is making many executive orders as well as calling on Congress to pass legislation on the following.
1) universal background check for purchases from dealers or individuals
2) restore bank on military style assault weapons
3) ban on magazines > 10 rounds
4) help law enforcement, make laws and punish those who buy guns for others.
5) more cops back on the job and streets

No word yet on existing items that are already owned unlike the gun laws signed into effect in NY yesterday.

Today, the President is announcing that he and the Administration will:

Continue reading "Obama's Gun Proposal being announced" »

January 14, 2013

SilencerCo/SWR's New SPECWAR 5.56 and 7.62 Rifle Supressors

Specwar_762_front.jpg Silencerco is introducing two new rifle center fire suppressors at the Shot Show in Las Vegas this week. The retail price of this series is $899 with a mount.

Their Press Release includes the following information.
The three features for the SPECWAR include:

  • ACTIVE SPRING RETENTION - The SPECWAR's patented ASR (Active Spring Retention) locking collar ensures your SPECWAR will not come loose under a heavy firing schedule, greatly reducing incidents of the largest causes of rifle suppressor damage, baffle and end cap strikes.
  • UNIQUE BAFFLE ALLOY -The SPECWAR's fully welded, precision TrueBore Wire cut core features our unique new baffle alloy that represents a significant strength increase over current industry standard materials.
  • Specwar RS FLASH HIDER - The Specwar RS flash hider is a rock solid platform for attaching your Specwar. The RS stands for Resonance Suppression which is a patent pending technology that keeps the flash hider from ringing like a tuning fork. Used independently the Specwar RS offers superior flash reduction.
January 12, 2013

Obama Caught Telling the Truth Again? "I Wont Take Your Guns Away"

As Obama was running for President he claims he will not take our guns away. Now it seems that the only way we may be able to protect our guns against future legislation he will likely sign may be to put our guns in a Gun Trust.

Thanks to the JFPO for bringing this video to our attention. Perhaps it's not what he says but what he obviously doesn't say. Obama said nothing about high-capacity magazines, semi-auto pistols, nor semi-auto guns like the AR15. I am sure he will find a way to reconcile his words with his actions.

January 12, 2013

Assault Weapons Ban and Gun Trusts

While there is no actual Assault Weapon Ban, we are being asked many questions about regular firearms and the benefits of a Gun Trust. As laws may change or what is proposed may be different from what actually happens, the answers below be reviewed with your local Gun Trust Lawyer® and we should all re-evaluate the situation when things become more certain.

Should I put my regular firearms in a Gun Trust?

Yes all firearms, accessories, and magazines should be put in a Gun Trust and the sooner you do it the more flexible your choices will be. A risk is that future transfers of certain guns (sounds like most guns) will be prohibited. If this happens you will not be able to transfer them to a Gun Trust. In addition, there are many other reasons why you should have your regular firearms in a Gun Trust See this article on putting Title I firearms in a NFA or Gun Trust.

How do I transfer my firearms into a NFA or Gun Trust?

While all of our Gun Trusts are designed for all firearms, many so-called Gun Trusts are not properly structured to deal with regular firearms and some not even NFA Firearms so this advice is for those who are using our Gun Trusts. The procedure and ability to transfer regular firearms will vary by state and location of the firearms. Generally it is the same procedure as how you would give or sell a gun to a friend. In most states nothing more than our assignment sheet is necessary to assign the firearms or accessories from yourself to the Gun Trust. In some states a dealer must be involved for firearm transfers and in others there are specific forms that may or may not allow for the transfer of the firearms to the trust. In general, if your state allows transfer of firearms to trusts, it should be done. If you live in one state, but the firearms are in another state, a trustee in that state may transfer the firearms into the trust.

Will the ATF know about my Title I firearms if I form a Gun Trust?

Not with our Gun Trust - Look for the GunTrustLawyer® and our Copyright notices to know if you have our Gun Trust.

Many traditional trusts and some so-called Gun Trusts or NFA Trusts use a Schedule A and/or Schedule B to list the assets or guns held by the trust. When you submit a Form 1 or Form 4 to the ATF they require a full copy of your trust along with amendments and schedules that are referenced in the documents. Our Trust does not reference a Schedule A or Schedule B and as such none is required to be submitted for approval with the ATF.

A trust which is designed for firearms should be be able to deal with all of your firearms without the risk of creating a de facto registration of your firearms. Some trusts use both a Schedule A and B in an attempt to intentionally deceive the ATF. This is not recommended as the ATF has changed their position several times on what is acceptable when submitting a trust and could start requiring any Schedules used with the trust. This could lead to a necessity to submit all of your firearms to the ATF with the next purchase.

Our Gun Trust has a different design to protect the privacy of the items that are held by the Gun Trust and only disclose the firearms that the ATF will have knowledge of anyway.

Can I Upgrade my Gun Trust to a Multi Generational Gun Trust to protect my firearms from loss upon my death?

We do allow any previous clients to upgrade their Gun Trust and not lose their initial investment in the Gun Trust. Changing your Gun Trust to a Multi Generational Gun Trust can insulate your regular firearms form future legislative changes that might have your forfeit your firearms upon your death. Many people have substantially larger firearms collections with their Title I firearms than their Tittle II firearms. For those families it may be wise to investigate upgrading your Trust to a Multi Generational Asset Protection Gun Trust. This can be done by drafting a new trust that replaces your existing trust. All you need to do is sign the new documents and simply swap your papers and you will now have all the new benefits of the most advanced gun trust available. Our Professional Gun Trust not only provides for multi generational ownership but also provides asset protection and other document for ease of management in creating and removing an unlimited number of authorized users.

January 5, 2013

How to Name Your Gun Trust?

One of the most common questions we receive is about naming your Gun Trust. Based on our experience and the problems people have encountered over the names they have chosen, here is our advice.

  • If possible do not include the words NFA, Gun, Firearms, or Weapons in the name of your trust.
  • Keep the Gun Trust name short as you are not allowed to engrave abbreviations should you ever decided to build using an ATF Form 1.
  • Keep the Gun Trust name simple and easy to identity with you so that you do not have to keep a copy of the trust and the Tax stamp in your possession. Basically you want to make it easy for law enforcement to determine that you are rightfully in possession of the item without having to take you into possession.
  • Pick a name that allows you to modify the type of trust without creating confusion over what type of trust it is. In other words do not use unnecessary words like "revocable" "irrevocable" or "living trust" in the name
We usually recommend your last name and the word trust as your Gun Trust name. This will not prevent you from opening bank accounts and it also should keep you from spending the night in jail if you are ever stopped by someone who does not understand that these items are legal. Your documents should be designed to demonstrate that you are legally in possession. This is very easy with if your name matches the trust, drivers license and tax stamp.

Allow for flexibility in the trust by not locking you into something specific or misleading with unnecessary words.

Keep the name short so it is easy to engrave and most importantly remember that your trust may be used by different people in different states over many years so it is important to follow rules that work in multiple states. You may only get the chance to create one Gun Trust, it needs to be done right and you need to feel comfortable that your trust is supported in multiple states.

January 2, 2013

Confusion in North Carolina regarding Machine Gun Ownership

We have received numerous calls and emails regarding the December 2010 change in the laws in NC based on the poorly worded changes to NC:

NCGS Section 288.8 (b)(5) allows MG ownership for:

Persons who lawfully possess or own a weapon as defined in subsection (c) of this section in compliance with 26 U.S.C. Chapter 53, §§ 5801‑5871. Nothing in this subdivision shall limit the discretion of the sheriff in executing the paperwork required by the United States Bureau of Alcohol, Tobacco and Firearms for such person to obtain the weapon.

NCGS Section 14-409(b) provides in pertinent part:

a person who lawfully possesses or owns a weapon as defined by Subsection (a) of this section in compliance with 26 U.S.C. Chapter 53, §§ 5801‑5871. Nothing in this subdivision shall limit the discretion of the sheriff in executing the paperwork required by the United States Bureau of Alcohol, Tobacco and Firearms for such person to obtain the weapon.

The problem is that these provisions don't seem to allow acquisition, only continued ownership or possession. However, the statutes go on to say that sheriff can refuse to sign off to on the forms required to obtain ownership.

I have spoken to several NC lawyers about this, they all agree that the safest thing to do until further clarification develops is the have the sheriff sign off with the Machine Gun Permit which is different than the CLEO signature required for individual ownership of Title II firearms.

In addition, it appears that if the machine gun was lawfully purchased in another state, there would not be the need to obtain the sheriff's signature on a machine gun permit to purchase a machine gun as it was already owned.

This only applies to Machine Guns and not other Title II firearms. With the upcoming proposed changes to federal laws regarding assault weapons, it is still a good idea to transfer all existing firearms into a Gun Trust in states like NC that permit such transfers.

January 1, 2013

New Years Special: ONLINE NFA Gun Trust Form $199

If you are interested in a real NFA Trust or Gun Trust and looking to implement it quickly and without the additional cost of a lawyer being involved we are offering a special on the Online version of the Gun Trust for only $199. This is anywhere from 1/2 to 1/3 of the normal price of the Gun Trust with legal support. The Online Gun Trust comes with a great manual which describes and give examples and hyperlinks to sample forms to purchase NFA firearms. It can deal with people who live in multiple states and allows you to add 3 additional authorized users.

Many people are rushing to put their regular firearms in a trust in an attempt to protect their ability to allow children and grandchildren to use them when they are old enough.

If you have a lot of firearms, you are looking for asset protection, or multi generational insulation from legislative change, you should consider the Professional Gun Trust. There is a comparison of this trust in one of the articles below on this page.

To get this special price you must use the buy it now button at the bottom of the page.
You will receive a Gun Trust Code by email that will allow you to create a Gun Trust with 3 additional authorized users and purchase NFA firearms without the need for a CLEO signature, fingerprints, or a photographs.

The Gun Trust will come with detailed instructions and frequently asked questions that walk you through the process of creating and using you NFA Gun Trust.

This Gun Trust does not come with legal support. If you are looking for a Gun Trust with legal support, and local support from a lawyer licensed in your state, fill out the Contact Us form on this page and we will send you details on the options and pricing for your state.

If you want to take advantage of this offer, you must use the following link http://www.guntrust.com/create-trust/ to create your trust and pay for it with your credit card or PayPal account through PayPal

January 1, 2013

How can I Protect my Firearms for my Children

A Gun Trust is designed for all of your firearms even if you do not have any Title II firearms. Title II firearms are sold by Class 3 Dealers and include Silencers, Short barreled rifles and shotguns, AOWs, DDs and full automatic pistols and rifles.

While it is not necessary under the current laws (2012) to have a Gun Trust to allow others to use or be in possession of your firearms, there are rumors that many firearms that are currently classified as TItle I firearms may become Title II firearms and controlled under the National Firearms Act. If this happens we will all have to be careful about constructive possession and may lose the ability to transfer these firearms to others, may have to pay a transfer fee to transfer them to others, or may lose them upon our death.

A Gun Trust can allow you to allow others to have access to your firearms and even become the person in control of them after you die. While a regular Gun Trust can your beneficiaries to use and have access to the firearms there is a risk that the people who would receive the benefit after your death may not be able to actually realize the full benefits from the value of your guns.

There is a multi generational gun trust that may solve this problem if you transfer your firearms, magazines, and other related items to your Gun Trust before the law takes effect. It appears that the current proposed legislation would prohibit additional transfers and you might even lose your firearms after you die. With the Irrevocable Gun Trust or multi generational asset protection gun trust (our Professional Gun Trust), the Gun Trust will remain the owner of the firearms even after you pass away. This means that you beneficiaries, your kids and grandchildren, will become authorized managers and users of the firearms. If one day transfers are allowed again, like with the previous assault weapons ban, then they could realize the monetary value of the firearms by selling them. If there is no sunset provision or the ban becomes permanent your family and future family members can become the users and enjoy the benefit of possession and use of the firearms into the future.

Different states have different rules on how long a trust like this can last. Our trust allows for the creator or future manager of the trust to select the jurisdiction rules to follow. This means even if you live in a state with a relatively short time that a trust can exist, you can select the rules of a state so that the trust can last 360 years , 500 years, 1000 years, or even one that can last forever.

The Professional Gun Trust is not designed for everyone, but if you have a substantial firearms collection of the ability to protect the firearms from creditors or potential loss due to legislative change is important you should Contact Us to schedule a time to discuss how this trust may be of benefit to you. If you already have a Gun Trust, you can upgrade your current Gun Trust and for our previous clients we will credit you the full price of the previous trust. This trust is not available online and must be setup with a local lawyer. We start the process in our office to deal with the federal issues and the locally licence lawyer will make state specific changes for state and local laws.

December 24, 2012

An Overview of NFA Gun Trusts? What is a Gun Trust

Many of you have asked your estate-planning lawyer about Gun Trusts and have not been able to find anyone who knows about them. This is not hard to believe because other than some materials I have produced or talked to others about there is no text book on gun trusts.

We work with lawyers in every state to help them prepare gun trusts for clients in their state while providing them a resource for the knowledge and information necessary to understand the ownership, transfer and possession of firearms.

In 2006, I recognized the need to create a Trust for NFA and regular firearms. It was at that time, that I created the Gun Trust. A Gun Trust is based on the traditional concepts of estate planning. Traditional trusts deal with all types of assets that are primarily financially based, but a Gun Trust only deals with firearms. They are not meant to circumvent federal or state laws, as many would have you believe. Trusts were clearly contemplated as owners of firearms by the National Firearms Act. The National Firearms Act (NFA), requires a tax to be paid to own, possess or transfer guns such as machine guns, short barreled rifles and shotguns, silencers or sound suppressors, and AOWs. They are referred to as Title 2 firearms because they are regulated under Title 2 of the 1968 Gun Control Act. Normal firearms are regulated under Title I of the Gun Control Act. Many people mistakenly call them Class 3 weapons, but Class 3 refers to a license or Special Occupational Tax (SOT) that a FFL must obtain prior to buying or selling Title II Firearms.

History of the National Firearms Act

The NFA was passed in 1934 in response to the criminal activity of the time. It imposed a $200 tax on certain firearms thought to be contributing to the growing crime problem. In an effort to discourage possession of these types of firearms, individuals were required to register them with the government and pay a tax of $200. Once this tax was paid, the owner would receive a Tax Stamp for the $200 that would have to be kept with the firearm to identify the owner, who could be in possession, and in what state the firearm could be located. Later the NFA was amended to further restrict certain items called Any Other Weapons ( an "AOW"). The tax to purchase an AOW was only $5 but to build one the tax was the same $200 as with other Title II firearms.

The NFA was designed to have strict requirements and carries stiff penalties for violations. Only an individual, business entity, or trust may own a Title II firearm in the civilian community. In addition, only the owner or their representative may be in possession of that firearm. Illegal possession, transfer, or ownership of a Title II firearm carries a prison sentence of up to 10 years, a fine of up to $250,000, loss of the firearms, and loss of the vessel (vehicle, or home) that the illegal firearms were contained. The NFA defines possession to include loaning so it is important to understand the concept of constructive possession and why individual ownership poses many risks to the average family. Many people mistakenly believe it is ok to let someone else use their Title II firearm if they are close buy, inside a closed fence, hand is on their left solder, or can see them. Even if these were permitted, imagine bringing a silencer home from a gunsmith or range. While you are on the phone your spouse grab your keys to go shopping. Surely you would not believe that this was permitted transfer or possession of a Title II firearm without pre-approval and paying the Tax. A Gun Trust can help protect and manage Title II firearms from these common issues.

ATF Requirements

Title 2 firearms must be registered with the ATF through application process. Whether you are purchasing a Firearm from a dealer with a Class 3 SOT or building your own Title II firearms, you must first go pay and obtain approval from the ATF to have it transferred or to build the firearm. For an individual the ATF requires that you fill out the appropriate form, affix a two-by-two inch photograph of yourself along with fingerprints, and have the application signed by your local chief law enforcement officer (the "CLEO") In addition you must include the tax fee which is typically $200 for each Title II firearm. Once the application is approved the person or entity who submitted the application will receive notice and the firearm may then be created or transferred. The approval time may take anywhere from three to six months.

The NFA Gun Trust

NFA gun trusts have become popular in recent years as an alternative to individual registration because of the flexibility they offer after the firearm is purchase as well as not requiring the photos, fingerprints, or CLEO signature. The Gun Trust can allow other managers or trustees of the trust to uses the firearms. State law controls the formalities of creating a trust and while in some cases lesser formalities may be required, it is recommended that you comply with the formalities other states to simplify the process and authorization in the case that you or others involved with the trust do not live in the same state where the trust was created. There are basically four types of people or entities that are involved with a Gun Trust: grantor/settlor, trustee, successor trustee and beneficiary.

The grantor or settlor is the person who creates the Gun Trust to manage who and how and when others will have access to or can use firearms within the Trust. A Trustee will submit the application to ATF but instead of registering the firearm in their name, he or she will list the Gun Trust as the owner. Trustees are also the individuals who will hold the trust property for one set of people during the grantor's life and the beneficiaries after the death of the grantor. Trustees may legally possess NFA weapons in the trust even though they are not listed on the application. In most cases a Trustee should be at least 18 years old (federal law prohibits anyone under 18 buying NFA firearms, and anyone under 21 from purchasing NFA firearms from a FFL with a Class 3 SOT) and not be otherwise prohibited from possessing firearms. A well drafted Gun Trust Lawyer® can craft provisions to allow for minor children to use the firearms with adult supervision. The beneficiary is the individual who receives the trust property upon the occurrence of a defined event that is often the death of the grantor. A well-drafted gun trust will deal with the many issues that arise in the event that one of the beneficiaries is a minor child, immature, or a prohibited person at the time the grantor dies.

Advantages of a Gun Trust

Gun Trusts should be very flexible. While most are established as a revocable trusts there are many advantages to using an irrevocable trust that are not available to a Gun Trust that is revocable. While many irrevocable trust have significant disadvantages, it is possible to intentionally violate tax code and remove the disadvantages. This type of trust is called an intentionally defective irrevocable trust.

Another advantage is that a Gun Trust does not require the Fingerprints, photographs, and CLEO approval. Not only can this speed up the process, but it also is more private.

While business entities have some of the same benefits as a Trust, they often involve yearly expenses, formalities, and are not designed to deal with ownership, transfer, possession, and use of firearms like a Gun Trust.

While many Gun Trusts are not designed to protect your firearms for generations or from creditors of yourself or your family, there is a Professional version of the Gun Trust that is designed to do both. If you are concerned about giving children and future family members that ability to use firearms if it should become illegal to transfer these firearms later or what to protect your guns from creditors, you should ask about the Multi-Generational Asset Protection Gun Trust.

Top 12 signs that you may not have a real gun trust.

1) You were told to put only NFA firearms in your trust
2) Your Trust talks about real estate, stocks, your house, and guardians of children
3) Your trust instructs others to break the law if you become incapacitated or die.
4) Your trust allows You to dissolve your trust without any prior actions
5) Co-Trustees are listed right in your trust document
6) Your Trust uses a Schedule A
7) Your Trust requires the sale of your firearms to pay you income if I become incapacitated.
8) Your trust does not specifically allow for the purchase of firearms in the powers
9) You trust does not mention guns, the NFA, Title II, Prohibited Persons, or uses incorrect terms like Class 3 firearms.
10) Your trust did not come with an extensive manual and how to section describing almost everything you could possibly think of.
11) You were told the Gun Trust was designed to circumvent laws.
12) Your trust does not contain a Copyright by Gun Trust Lawyer® David M. Goldman

For more information on whether a NFA Gun Trust or Gun Trust makes sense for your circumstances, use the contact form on this page to receive more information on Gun Trusts.

December 23, 2012

Protecting your Firearms for Generations

How can a Gun Trust protect my guns for my children and other family members?

Recently we have had many inquires as to how a Gun Trust can be used to protect firearms from future or currently pending legislation. First let me say that while no previous gun law has taken away the current owners rights, there is no guarantee that a future law would not attempt to do so. In other words, no one can guarantee you what will happen in the future. If we look at the firearms restrictions that have been imposed on US citizens over the last 200 years we see that all legislation has been designed to restrict future purchases and transfers of firearms and even attempts to totally ban firearms have allowed those who already possess them to keep their guns.

All of our Gun Trusts are designed to own regular and NFA firearms including the so-called "Assault Weapons". Our lower end trusts are based on revocable trusts that will end at sometime after the death of the person who creates it. We do have a Professional gun trust which is designed to offer both asset protection and multi generational ownership of the firearms.

Historically a trust can only have a limited lifetime which is controlled by state law. The Rule Against perpetuity is a limiting factor that dates back to England and attempts to restrict the ability to control from the grave. The modern trend in the United State has been to increase the length of time you can control and in some states the restrictions have been abolished.

For example in Texas a trust can last 90 years after the death of the last person named in the trust dies, in Florida a trust can last 360 years, Arizona 500 years, Colorado 1000 years. In some states like Alaska, Idaho, New Jersey, Missouri, Pennsylvania, Kentucky, and South Dakota trusts can last forever.

The good news is that even if you do not live in one of the states that has expanded or abolished the Rule Against perpetuity, our Professional Gun Trust allows for you to elect to change the rules of your trust to follow another state at the time you create it or a later time. This means your Professional Gun Trust will be the owner of all of your firearms forever and children, grandchildren and beyond will be the authorized users of the firearms.

The Asset Protection Gun Trust is designed for the firearms owner or collector that is concerned about liability from their profession or personal life that may cause the loss of the firearms. In addition this Gun Trust can be structured for multi-generational use so that your kids, grandchildren, and future generations can use the same trust and have the same protections. The Multi-Generational Asset Protection Gun Trust uses Asset Protection techniques that can protect the firearms and other assets in the trust from your creditors as well as the creditors of your beneficiaries. Because of the complexity and cost involved with this trust, it has historically only made sense for those with $20K in firearms or where the individual desires for the trust to exist for future generations.

This Gun Trust is not designed for everyone. If you have a larger gun collection or keeping them in an asset protection vehicle so that future family members can use them is important than this Professional Version of our Gun Trust may be right for you and your family.

For those of you just looking for a good Gun Trust for NFA firearms and regular firearms without legal support you may check out the online form version. This Gun Trust comes with great instructions and a users copyrighted users guide. It is also designed for all of your firearms but at a lower price because it does not come with legal support. It can be found at GunTrust.com

While the prices and protections vary by state, here are some of the more significant differences in the trusts we offer with legal support that would be customized by a Gun Trust Lawyer® who is licensed in your state:

Feature AdvancedProfessional
Price $600-$750$2500-3000
Created by Gun Trust Lawyer®YesYes
Customized for you by LawyersYesYes
Ability to act without othersYesYes
Special Veto PowersYesYes
Protect Guns For Children
Grandchildren and beyond
NoYes
Asset Protection - Protects guns from:
- Your creditorsNoYes
- Your beneficiaries creditorsSomeYes
- Lawsuits Against YouNoYes
- BankruptcyNoYes
- DivorceNoYes (if spouse signs waiver)
- Disqualifying you from
GovernmentBenefits
NoYes

Ability to change beneficiaries

YesYes

Authorized Users (included)

15Unlimited
No EIN or Separate TaxesYesYes
Multiple BeneficiariesYesYes
Charitable Gifts to NRAYesYes
Multi State UsersYesYes
Multi State UseYesYes
Multiple OwnersYes
Multiple Trustee LevelsNoYes
Good for all FirearmsYesYes
Form to Add TrusteesNoIncluded
Form to Remove TrusteesNoIncluded
Form to change StatesNoIncluded
Form to allow for self
expiring Trustee
NoIncluded

Asset Protection does not protect from fraudulent conveyance or fraudulent transfers. Divorce and Bankruptcy protections vary by state. All protections are not available in all cases and how a trust is structured will determine the protections available. The Professional version of the Gun Trust does not permit you to change the beneficiary to yourself.

If you are interested in a Professional Gun Trust to own and protect your firearms for generations as well as protecting them from your creditors and those of your beneficiaries, Contact Us to create one before the laws change and you may not be able to transfer your firearms into a Gun Trust.

If you already have a Gun Trust, it can be upgraded to the Professional Gun Trust your previous investment will not be lost. We are currently reducing the price by what you previously paid to any Gun Trust Lawyer®.

December 9, 2012

Form 1 and Form 4 Wait Times expected to decrease

atf-logo.jpgATF hires 9 new examiners. Last week, the NFATCA posted an article that the DOJ lifted the hiring ban for the BATFE (Bureau of Alcohol, Tobacco, Firearms and Explosives) and the ATF hired 9 new examiners.

This should significantly speed up the approval process for the purchase or manufacture of firearms restricted by the National Firearms Act. The new staff at the ATF who examine the requests for transfer ( ATF Form 4) and the requests to manufacture (ATF Form 1) should be around 30 which is almost triple the number just a few months ago when expected approval times were in excess of 6 months. We do not know if this will bring times down to 2-3 months but it seems reasonable.