Gun Trusts for NFA and Title II Firearms
Gun Trusts operate much like other trusts; however, they can be especially helpful in establishing the trust as the owner of various, restricted firearms as opposed to having an individual be the owner. Although a gun trust can be used for all types of firearms, it is typically most helpful for those who own federally-regulated firearms known as Title II/NFA Firearms, such as short-barreled rifles, suppressors, silencers, machine guns, and “any other weapons” (“AOW”). Any such firearms must be registered with the Bureau of Alcohol, Tobacco, and Firearms (aka “ATF”).
Setting up a gun trust can be beneficial to any firearm enthusiast looking to expand their collection. At Lincoln & Wenk, we can assist you in creating a gun trust in order to acquire these items in a safe and legal manner. Contact us today for an estimate for drafting and filing a gun trust in Arizona.
The Purpose of a Gun Trust
Establishing a gun trust compliant with the Gun Control Act prevents an unauthorized person from possessing or handling an NFA firearm by ensuring that the current and successor trustees of such trust are those who are legally entitled to possess/handle those firearms. Additionally, Gun Trusts offer many of the same benefits that other trusts provide, such as avoiding probate and specifying beneficiaries for certain assets.
Similar to other types of revocable trusts, gun trusts are meant to allow the trust to acquire and own NFA items in a safe and legal manner. A gun trust can also help define where the firearms or items will be transferred when the original trustee becomes incapacitated or passes away.
Mostly associated with NFA, Title II, and federally regulated items, gun trusts can be expanded to include your entire firearm collection. Your gun trust can also protect your valued collection from creditors and other probate delays and issues. It can also protect these items in the event of divorce.
At Lincoln & Wenk, we can help you set up your trust, assign current and future trustees, as well as beneficiaries. Once your trust is established, you can add co-trustees such as qualified children or your spouse. It will also assist in your estate planning to properly identify and name specific persons who will inherit your collection if you are infirmed or pass away.
Items Listed Under the NFA
According to the Bureau of Alcohol, Tobacco, Firearms, and Explosives (BATFE), the National Firearms Act (NFA), originally enacted in 1934, intended to increase tax revenue by requiring tax stamps for firearms and dangerous materials. Since the NFA passed, and the implementation of the Gun Control Act of 1968 and its subsequent amendment, the Federal Firearms Law Reform Act in 1986, certain items and classes of firearms have been strictly regulated. Also requiring registration in the NFA Registry, these items are clearly defined. The following is a list of items that fall under the umbrella of NFA/Title II items.
- Machine Guns
- Short-Barreled Rifles and Shotguns
- Destructive Devices
- Suppressors or Silencers
- Any Other Weapon (AOWs)
Purchasing NFA Items After Your Gun Trust is Established
Once you have your gun trust drafted and filed, any NFA items purchased or acquired by the trust will require the appropriate forms to be filed. Specifically, you will need to file a Form 4 with the BATFE, along with the necessary trust documentation. If purchasing the item from a Federal Firearms Licensee (FFL), they will likely help you throughout the process. Please note that you should not be transferring the item into the trust until you receive your approval and tax stamp from the BATFE.
Contact Your Gun Trust Lawyer At Lincoln & Wenk Today
At Lincoln & Wenk, we encourage our clients to abide by federal law and acquire their firearms in a safe and legal manner. We are happy to assist you in setting up your gun trust as well as all of your estate planning needs. Avoid any difficulties with registration or other violations by having a proper gun trust drafted.
With decades of combined legal experience in Arizona, Lincoln & Wenk can help you navigate the tricky process of dealing with the BATFE. Even without any malice or ill intentions, you can face serious consequences if your NFA paperwork is not filed correctly. Connect with a dedicated estate planning attorney today by calling our office or filling out our convenient contact form now.