NFA Gun Trusts
Our NFA Gun Trust Package
Are you thinking about getting a Gun Trust? Let us make the process easy for you! Our trust meets the requirements established by the State of Arizona, and the NFA. It establishes what an NFA firearm is, who is able to possess the NFA items within the trust, and how those items are to be transferred, should you so choose.
A properly drafted NFA Firearms Trust should grow with you as your life situation changes. We include amendment forms allowing you to:
- Add and remove Co-Trustees
- Update Beneficiaries and Distribution plan
- Add and remove Successor Trustees
- Change of address (County and State)
What is an NFA Gun Trust?
An NFA Trust is a revocable living trust that is specifically designed to allow you to legally own and possess NFA/Title II firearms. (It can also hold non-restricted firearms, if desired). A properly drafted NFA Trust will hold these items on your behalf, and clearly define who is able to possess and handle them. This can provide you with a significant amount of legal protection, as NFA firearms are highly regulated.
What is an NFA Firearm?
NFA refers to the National Firearms Act, which first came into effect in 1934. It, along with Title II, restricts and regulates the importing, manufacturing and selling of NFA firearms. According to federal regulations, the following items are restricted:
- A shotgun having a barrel or barrels of less than 18 inches in length
- A weapon made from a shotgun if such weapon as modified has an overall length of less than 26 inches or a barrel or barrels of less than 18 inches in length
- A rifle having a barrel or barrels of less than 16 inches in length
- A weapon made from a rifle if such weapon as modified has an overall length of less than 26 inches or a barrel or barrels of less than 16 inches in length
- Any machine gun
- Any silencer
- A destructive device, such as a bomb, poison gas, a grenade, a missile, or a rocket
- Any other weapon (AOW – this is a catch all term for weapons that don’t meet a specific criteria)
What can an NFA Gun Trust do for me?
1. Allow for multiple owners. Contrary to popular belief, an individual can purchase NFA firearms, so long as they go through the proper procedure. However, that individual is the only one allowed to possess that weapon. Possession, according to federal regulations, is very broadly defined as physical control. By handing someone an NFA Firearm, you are allowing them to possess it. The penalty for violating this rule can include up to 10 years in prison, and/or a fine of up to $250,000. Additionally, if you live with another person, a spouse, for example, and they have access to the NFA item, you both could be subject to penalties. A trust gets around this problem by allowing for multiple trustees over the NFA item.
2. Legal protection. An NFA gun trust clearly defines what an NFA firearm is, what the proper procedures are for transferring an NFA firearm, and who is allowed (and who never should be allowed) to handle NFA items. The rules surrounding NFA firearms are very stringent, and the penalties for violating these rules can be very high. Having an NFA gun trust in place can put much needed boundaries in place for the protection of everyone involved.
3. Privacy concerns. NFA items within a trust are purchased and owned by the trust, not the trustees. This adds an extra layer of protection for the trustees, as their names are not listed as direct owners. Trustees, however, must still submit to background checks upon the purchase of restricted items.
4. Estate planning benefits. With an NFA gun trust, it is simple to designate successor trustees who will take over the trust property when you are gone. Again, because the trust owns the property, and not the trustees, in the eyes of the law an change of ownership has not taken place. When the trust is eventually dissolved, any remaining assets within it will go to the beneficiaries named in the trust.