Nfa trust, any members have first hand experience?

Discussion in 'Firearms' started by HK_User, Jan 20, 2016.


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  1. HK_User

    HK_User A Productive Monkey is a Happy Monkey Site Supporter

    Looking for experienced holders of this type trust.
    No trools, No baiters need reply.
    As always OPSEC.


    HK


    Benefits of an NFA Trust
    What is an NFA Firearms Trust?


    A NFA Firearms Trust is a unique legal instrument that helps deal with the issues that can arise with the sale, purchase, and ownership of Title II firearms. (Including short-barrel rifles and shotguns, machine guns, and silencers.) These are also referred to as Gun Trusts, Firearms Trusts, or Firearms Revocable Trusts.

    A Trust, generally, is a legal relationship whereby property is held by one person for the benefit of another. NFA Firearms Trusts are specifically tailored to deal with the fact that the property can be firearms. The Trust itself is the entity that ‘owns’ the property in trust. While something similar can be achieved with LLCs or Corporations, Trusts are preferred because those business entities have annual tax and other reporting requirements. This is not only expensive, but provides less privacy. Further, since there are more reporting requirements, there is more of a risk of mis-reporting, which could lead to severe criminal penalties.

    Benefits of an NFA Firearms Trust
    The main benefit of an NFA Firearms Trust is the same as any trust- to ensure your property is protected in a manner you choose- not in the manner the court system later chooses after your death. Further, using a Gun Trust to purchase Title II firearms can streamline and expedite the process. One must purchase such firearms through a dealer, and must complete the ATF Form 4. Without a gun trust, completion of that form requires both the signature of the Chief Law Enforcement Officer in the area, and a fingerprint submission. With a gun trust, the A.T.F. will still verify and investigate the application, but fingerprints or the CLEO signature is no longer required.

    Further, the NFA gun trust can authorize several other people to be users of your Title II firearms without violating the law. As a rule of thumb, we recommend that you only authorize those who you trust with the keys to your gun safe.
     
    Last edited: Jan 20, 2016
  2. BTPost

    BTPost Old Fart Snow Monkey Moderator

    I know that we have some Monkeys with NFA Trusts, as described above.... Although I am NOT one of them...
     
  3. HK_User

    HK_User A Productive Monkey is a Happy Monkey Site Supporter

    Health and Dying brings this to my attention.

    I looked at it several years ago but never acted on it.
     
  4. BTPost

    BTPost Old Fart Snow Monkey Moderator

    I thought about doing this back when I first applied for an FFL, 3 decades ago.... Having a Trust Own the FFL, and a Class 4 FFL as well... but decided that it wouldn't be practical in Washington State, (where I lived at the time) due to that State being a Non-NFA State... which made ALL NFA Weapons, Contraband, and subject to Seizure, by ANY state or local LEO.... At the time, ALL LEO possessed MachineGuns, were OWNED by the Washington National Guard, and if a local or State LEO needed one, they had to get the Governor's Approval, and then go to Camp Murry, and check them out....
     
  5. HK_User

    HK_User A Productive Monkey is a Happy Monkey Site Supporter

    Somewhat the same here, but now TEXAS has suppressors as open use.

    One step at a time to move forward.
     
  6. Tully Mars

    Tully Mars Metal weldin' monkey Site Supporter+

    What exactly is it that you need help with? PM me if you want.
     
  7. Seacowboys

    Seacowboys Senior Member Founding Member

    They have eliminated the sign-off by the chief LEO on all NFA purchases but now every Officer of the Trust must do the fingerprint and background check. The only real advantage to a Trust now appears to be that your heirs will not have to be subjected to fingerprinting and background checks.
     
  8. HK_User

    HK_User A Productive Monkey is a Happy Monkey Site Supporter

    You might say I'm already well printed so my Heirs are what I'm looking out for.

    Me and the Sheriff are coffee drinking buddies so no problems from that area.
     
    Tully Mars likes this.
  9. HK_User

    HK_User A Productive Monkey is a Happy Monkey Site Supporter

    Sent
     
  10. Tully Mars

    Tully Mars Metal weldin' monkey Site Supporter+

    Back at ya
     
  11. AD1

    AD1 Monkey+++

    I have one here in AZ for a can.

    My FFL dealer created mine for me.
     
  12. Yard Dart

    Yard Dart Vigilant Monkey..... Moderator Site Supporter++

    Toilet's don't qualify. :lol:

    Sorry..... back to the cave with my attitude.... sorry.[viking]
     
    Tully Mars and AD1 like this.
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