FIREARM TRUSTS
What is a firearm trust?
A Firearms Trust is a special way to own your firearms. Very generally, when firearms (or other property) are put into a trust, the "trust" becomes the legal owner of the firearm. As in other trusts, there is a trustee and at least one beneficiary. The trustee is the person who holds legal title to the trust property (firearms) for the benefit of each beneficiary.
Generally, a trust can name what person(s) has a right to possess a firearm. For example, the trust (which legally owns the firearm) can name one or more beneficiaries as those entitled to possess the firearm under the trust.
Generally, a trust can name what person(s) has a right to possess a firearm. For example, the trust (which legally owns the firearm) can name one or more beneficiaries as those entitled to possess the firearm under the trust.
Do I need a firearms trust?
Of course, the answer is "it depends."
If you own firearms governed by the National Firearms Act of 1934 (see below) then it may be in your best interest to have a firearms trust. Importantly, a firearms trust can help you ensure you comply with federal and state laws that highly restrict the ownership, transfer and possession of these types of firearms.
In addition, if you plan to purchase or acquire these types of firearms, a firearms trust may even help you with the CLEO (Chief Law Enforcement Officer) requirement that can often hinder a person obtaining an NFA firearm.
It is best to consult with me or another experienced attorney to help you determine whether a firearms trust is recommended for you.
If you own firearms governed by the National Firearms Act of 1934 (see below) then it may be in your best interest to have a firearms trust. Importantly, a firearms trust can help you ensure you comply with federal and state laws that highly restrict the ownership, transfer and possession of these types of firearms.
In addition, if you plan to purchase or acquire these types of firearms, a firearms trust may even help you with the CLEO (Chief Law Enforcement Officer) requirement that can often hinder a person obtaining an NFA firearm.
It is best to consult with me or another experienced attorney to help you determine whether a firearms trust is recommended for you.
Advantages of a firearms trust
- Trustees can lawfully possess NFA firearms owned by the trust and the trust can name beneficiaries who may also lawfully possess the firearms
- CLEO approval NOT required (very helpful because many CLEOs simply will not approve one's individual ownership)
- trust documents can warn Trustee(s) of criminal laws of which the must be aware to ensure they do not violate any law(s)
- the trust continues after the trustee dies. This means that when the trustee passes away, the lawful owner does not. Rather, the trust continues and the lawful ownership also continues.
- typically a firearms trust ownership of an NFA firearm is approved quicker than individual's ownership
- a firearms trust is generally a private document (though private, it must be submitted to ATF along with application for ownership of an NFA firearm)
The National Firearms Act of 1934 and an NFA Firearm
Very basically, the NFA was enacted in 1934 to ban the general ownership of non-registered machine guns. The NFA does, though, allow a person to own a machine gun and other types of weapons, so long as they are properly registered.
The NFA applies to the following weapons:
Thus, if you want to own and/or possess one of these, you must go through the NFA's registration process. Often, a Firearms Trust can help you do this and make the process much easier and safer for you.
The NFA applies to the following weapons:
- machine guns (fully automatic)
- suppressors / silencers
- short-barrel rifles and short-barrel shotguns
- destructive devices
- "any other weapon"
Thus, if you want to own and/or possess one of these, you must go through the NFA's registration process. Often, a Firearms Trust can help you do this and make the process much easier and safer for you.
9 "prohibited" persons who cannot serve as trustee of an NFA firearms trust and who cannot own or possess an NFA firearm
- convicted felon
- fugitive from justice
- unlawful drug user or addict
- person adjudicated as mentally deficient
- illegal / undocumented alien / non-immigrant visa holder
- person with dishonorable discharge from the U.S. armed forces
- person who renounces his or her U.S. citizenship
- person subject to protective order
- person convicted of misdemeanor crime of domestic violence
CAUTION: If you or any person falls into one of these categories, that person absolutely CANNOT serve as trustee or as a beneficiary of the trust.
If a "prohibited person" is a trustee or beneficiary or possesses an NFA firearm, that person is violating Federal law and is subject to severe penalties. In addition, if you permit a prohibited person to possess your NFA firearm, YOU will be violating Federal law and will be subject to severe penalties.