We offer the formation of NFA Firearm Trusts to those who may wish to acquire National Firearm Act (NFA) firearms and other NFA items.
NFA Firearm Trusts, Gun Trusts, Title II Trusts, Class 3 Trusts are all specific types of a Revocable Living Trust that deal with the unique issues of owning, transferring, and possessing Title II firearms (Silencers, Short Barrel Rifles and Shotguns, and Machine Guns).
Under the National Firearms Act, a Class 3 Firearm is defined as a machine gun, sound suppressor (a.k.a. silencer), short-barreled shotgun, short barreled rifle, destructive device and "any other weapon". Your local gun shop can help you decide if you need to register your intended purchase.
When individuals purchase a Class 3 Firearm, the Chief Law Enforcement Officer (CLEO) or the city or county where the individual resides is required to sign a documented called a Form 4. Unfortunately, many CLEO's have been reluctant or outright unwilling to sign any request for the purchase of a Class 3 firearm. If you would like to legally purchase and own a Class 3 Firearm, a "NFA Gun Trust" can assist you with this endeavor. The "Gun Trust" actually will purchase and hold title to the restricted firearm or gun. The NFA trust is not required to submit fingerprints nor seek the approval of the local chief of police. This also maintains your privacy by not having the CLEO involved. Instead the federal government will verify and investigate the application.
New Hampshire trusts do not require any disclosure or public filings. As a result of the private status of a New Hampshire Revocable Trust, the only people who know the terms of the trust are those you choose to tell or provide a copy of the trust documents.
Most New Hampshire Revocable Trusts can hold firearms. The problem is that many are not setup properly to deal with the special issues involving items regulated by the National Firearms Act (NFA). When the NFA is violated, the individuals who violate the act are subject to substantial fines, criminal charges, and forfeiture of all weapons (not just those regulated). ($250,000 in penalties and 10 years in jail)
A firearms trust should also give the Trustee special powers and instructions on how to deal with unplanned events. Assets in a Firearms Trust cannot be distributed like other assets upon the incapacity or death of the Grantor or Settlor. The Trustee or successor trustee must look at the asset, determine the capacity of the beneficiary, what state and local laws apply to the individual, the federal laws and many other factors to properly distribute the assets. Without the guidance contained in the NFA trust, it would be very difficult to prepare a trustee for their duty.
A properly created trust for obtaining and holding Firearms is a complicated document and you should have it prepared and explained by a licensed attorney who can review any trust prior to the acquisition or transfer of regulated firearms.
Contact us via email, today, for more information.
NFA Trusts Are Here To Stay
"I just got off the phone with one of the guys from the National Firearms Act Trade & Collector’s Association, who is a little concerned about all of the misinformation floating around the internet regarding the future of NFA trusts. This article in the New York Times makes it sound like the sky is falling for those who want to use a trust or corporation for NFA items. But the reality is that nothing is going to change right now . . ." TO READ THE FULL ARTICLE CLICK HERE.