A NFA Trust or Gun Trust is a type of revocable living trust that is created for the main purpose of possessing Title II firearms. In our review of many so-called Gun Trusts we have seen that most do not properly address firearms ownership, transfer and possession. (If you have a gun trust you would like reviewed, just let us know and we woudl be happy to review it under the federal laws for free) Many are regular trusts and many only have a few firearms related terms. If almost every provision in your trust does not deal with firearms, it is not a real Gun Trust from a Gun Trust Lawyer®.
A Gun Trust is a NFA Trust that is appropriate for regular firearms as well as Title II firearms (those sold by Class 3 SOT FFLs). Often times, people who wish to purchase Title II firearms with a trust choose to hire an attorney who has not studied and does not fully understand the NFA and estate planning. As a result, many so called NFA Trusts or Gun Trusts other than those provided by a Gun Trust Lawyer® do not comply with the Gun Control act of 1968, the National Firearms Act and other local and state specific gun laws. These trusts often contain several defects or mistakes and may lead to illegal possession or transfer of Title I and Title II firearms.
Mistake #1: Omitted Necessary Provisions