A gun trust is a special legal entity created for individuals to own and operate certain property, usually weapons and accessories covered by the National Firearms Act or NFA. The revocable trusts are sometimes referred to as "Class 3" weapons, or Class 3 trusts.
NFA weapons include all fully automatic and select fire weapons, short barreled rifles and shotguns, and sound suppressors (silencers).
A gun trust is the optimal vehicle for possessing NFA weapons because the trustee can include multiple trustees/beneficiaries and allow each of them to transport and/or use the firearms without violating NFA and BATFE regulations. A gun trust does not require registration with the state, has no annual filing or tax fees, and does not require the signature of the Chief Law Enforcement Office (CLEO). Many CLEOs in certain jurisdiction refuse to sign the documents, preventing private individuals from lawfully acquiring NFA items. A gun trust also does not require fingerprints or a photograph to be included with the BATFE form.
Many gun owners desire privacy regarding their property. A properly drafted gun trust will also include succession planning language, allowing the lawful transfer of items on the death or incapacity of the original trustees. A trust allows such a transfer to happen outside of probate--saving time, money, and unwanted publicity.
