A gun trust is the optimal vehicle for possessing NFA weapons because
the trustee can include multiple co-trustees and allow each of them to
transport and/or use the firearms without violating NFA and ATF regulations. A
gun trust does not require registration with the state, has no annual filing or
tax fees, and does not require the sign-off of the Chief Law Enforcement Office
(CLEO) like the registration of an individual for an NFA item. Some 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 upfront with the ATF 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 to successive
trustees and/or beneficiaries. A trust allows an intergenerational transfer to
happen outside of probate (and the public record)--saving time, money, and
unwanted publicity. Some people believe the law might change with respect to the transfer
of guns during your lifetime or at the owner’s death, making it difficult or
even impossible for your heirs to inherit your guns. Using a trust could bypass
these legislative changes and allow beneficiaries to legally enjoy the use of
your guns after you are gone.
