(1) Do I need a Gun Trust if I don’t own any Title II guns?:
Many people do not consider their regular firearms or magazines when creating a trust. Most NFA trusts are not properly created for all firearms. About 5 years ago we upgraded our NFA Trust to a Gun Trust that was designed for all of your firearms because most people who are purchasing a Title II firearms have Title I firearms. The decision-making process about giving someone a gun is the same regardless of its status as a Title I or Title II. For more on this topic see our recent blog on Putting Title I firearms into a Gun Trust.
(2) Do I have to pay the $200.00 tax stamp if I have a Gun Trust?
Yes, The Tax Stamp is for the ability to transfer a Title II firearms to an individual, business entity, or trust. In most cases the Tax Stamp is $200 but if you purchase an AOW the Tax Stamp is only $5. There is no discount or change in the Tax Stamp for a Trust.
(3) Is there a minimum or maximum number of guns I can put in your Gun Trust?
The Gun Trusts from a Gun Trust Lawyer® do not have any limitations on the number of guns that can be transferred to the trust or purchased with the trust. All of our Gun Trusts come with forms to allow for future purchases or assignments to the trust without the need to make any modifications or incur additional legal fees Continue reading