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.
I know that we have some Monkeys with NFA Trusts, as described above.... Although I am NOT one of them...
Health and Dying brings this to my attention. I looked at it several years ago but never acted on it.
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....
Somewhat the same here, but now TEXAS has suppressors as open use. One step at a time to move forward.
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.
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.
