We are often asked about the advantages of a Gun Trust by one of our Gun Trust Lawyers® over a LLC. I have compile a quick list of the most common advantages.
- no federal or state tax or reporting requirements with a trust
- no annual fees with a trust
- with a trust you can easy, quick, and inexpensive to change who can use or have access to the firearms
- privacy with a trust is not available with a LLC in most states
- if the LLC is administratively dissolved, the items become illegal and fixing the LLC does not make them legal again under the NFA
- a trust deals with incapacity and death for succession planning
- a trust can be changed quickly (the same day) to fix problem with prohibited persons
- your zoning may not allow for a business to be operated at your home.
- easy to modify if you move or change states, LLC’s often require to be registered in each state and additional yearly fees may be due.
- some people want to use existing business to purchase NFA firearms, this can cause your business and livelihood to be at risk if someone uses the firearms incorrectly or allows others to have possession or use them.
If you would like to discuss the creation of a NFA trust for the purchase of silencer, SBR, SBS, AOW, or a machine gun Contact Us to begin the process. We work with over 150 Gun Trust Lawyers® in more than 43 states.