NFA Gun Trust Advantages?

NFA Gun Trust Advantages

The “NFA” or National Firearms Act of 1934 governs ownership of certain items, including: suppressors, short-barreled rifles, short-barreled shotguns, machineguns, destructive devices, and “any other weapon.”  These are often referred to as “Class III” firearms.  The process to get ATF approval for ownership of these items can be arduous and lengthy.  Paperwork must be submitted to the ATF and a $200 “tax stamp” must be issued.

If an individual is seeking ownership of an NFA item, he/she must submit fingerprints, photographs, and get his/her local Chief Law Enforcement Officer (“CLEO”) to sign off giving approval. This doesn’t include the time for the ATF examiner to review the subsequent paperwork and issue the tax stamp (this can run 4 months or more). Some CLEOs drag their feet or even refuse to sign off, frustrating any attempts to legally own NFA items.

In addition to individual ownership, the ATF has approved legal entities to own NFA items.  These entities can include corporations, LLCs, and trusts.  A trust, specifically a Revocable Living Trust, is a popular method for more people to legally own and possess Class III NFA firearms in Nevada.  Considering the advantages a trust possesses, it is clear why it is so popular.

 

A properly formed trust for NFA/firearm purposes has many distinct advantages:

  • Multiple possessors in the form of co-trustees
  • No fingerprinting or photographs needed
  • No CLEO sign off
  • Faster processing time than an individual application (no CLEO signoff delay)
  • Some limited liability protection of the trust assets (they are owned by the trust, not an individual)
  • Potentially low cost to create
  • No annual fees like a Corporation or Limited Liability Company
  • Anonymity (no reporting or registering)
  • Upon death of the Settlor/Trustor, the trust property transfers to the beneficiaries via a tax-free transfer on a Form 5
Digiprove sealCopyright secured by Digiprove © 2011
Acknowledgements: Nevada Gun Trust Attorney

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58 Responses to NFA Gun Trust Advantages?

  1. teRRy October 26, 2011 at 9:27 am #

    I'm interested, please enter me in the drawing.

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  2. buddy October 26, 2011 at 10:10 am #

    I am always interested in the drawings... add me too please

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  3. Clint-M October 26, 2011 at 11:12 am #

    Definitely would like to be entered on this one. Thanks for the opportunity!

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  4. lneufeld October 26, 2011 at 11:57 am #

    Count me in. I'm about to purchase two and would love the help legally obtaining them.

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  5. Sinister October 26, 2011 at 12:15 pm #

    I got tired of waiting on METRO to get thier act together, and they guys at LongMountain told me about the NFA trusts. The lawyer fee to draft the NFA has paid for itself with not haveing to go do fingerprints and passport photos. Its just an all around better way of owning NFA items. Ben Bunker at the Bunker Law Group is awesome.

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  6. rolnthundr1 October 26, 2011 at 1:17 pm #

    Count me in! I've heard the trust is the way to go if you plan on owning more than one NFA item...

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  7. StammesOpfer October 26, 2011 at 2:06 pm #

    I did a trust for my supressors need to do a rewrite now to add wife and prepare for a SBR. Absolutely the way to go.

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  8. perna October 26, 2011 at 3:22 pm #

    I could really use this, great giveaway!

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  9. SideForce October 26, 2011 at 8:19 pm #

    Nice explanation of the NFA Trust, wondered how it all worked and the advantages of a Trust.

    Something to look at in the future. What are the advantages of an individual trust for property and assets?

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  10. JDamery October 26, 2011 at 9:48 pm #

    Definitely interested in the drawing, sign me up! :)

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  11. verticlbob October 27, 2011 at 2:11 am #

    I've been thinking about this for a while. Seems like the best way to go for the fun toys!

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  12. vegaseric October 27, 2011 at 7:35 am #

    There definitely an SBR in my future... enter me for the giveaway!

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  13. pleary454 October 27, 2011 at 9:36 pm #

    This is something I could use... ohh, to spend more money on toys.....

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  14. TimBeghtol October 29, 2011 at 9:48 am #

    Very interested in this method of obtaining/maintaining NFA items. Please enter me in the drawing.

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  15. Miketheplinker November 12, 2011 at 7:31 pm #

    This is very interesting. i will have to look into this in depth now that I know about it. Please enter me in the drawling

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  16. StBenedictCross November 15, 2011 at 5:31 pm #

    Please enter me in the drawing. Thank You.

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  17. LeonSORTX November 17, 2011 at 11:07 am #

    Definetly sign me up !!

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  18. flynow November 17, 2011 at 12:37 pm #

    A great idea, after I've gone through the process a number of times i can see the benefits.

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  19. easytarget925 November 17, 2011 at 3:29 pm #

    This is great. Please enter me in the drawing

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  20. frankjim November 22, 2011 at 1:34 pm #

    Add my name. Sounds great.

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  21. sniper308 November 23, 2011 at 6:44 am #

    Spectacular giveaway, sign me up for this drawing... Thanxx

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  22. sxipro November 23, 2011 at 6:36 pm #

    Sign me up please! Thanks

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  23. rolnthundr1 November 25, 2011 at 8:31 am #

    Count me in, I've been interested in obtaining one of these..

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  24. anungunrama November 25, 2011 at 8:39 am #

    i'm game

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  25. bjones69 November 25, 2011 at 8:54 am #

    I am interested please enter my name into drawing

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  26. one5oh2nv November 25, 2011 at 9:49 am #

    Ive been looking to do one of these!

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  27. SCJeffro November 25, 2011 at 2:01 pm #

    Thanks for the info on this drawing! SIGN ME UP FOR SURE!!!!
    Oh and NW Arms looks like a decent place!

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  28. s129 November 25, 2011 at 2:15 pm #

    This is awesome. Sign me up for the drawing as well, please!

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  29. Seyer November 25, 2011 at 3:36 pm #

    I’m interested, please enter me in the drawing!! Crosses fingers

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  30. rbs86 November 26, 2011 at 7:41 am #

    If I'm not too late I'd like in on this drawing. Thanks

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  31. vegaseric November 26, 2011 at 4:26 pm #

    Wow... I was just notified that I was the giveaway winner! I've been doing some browsing of SBRs and SBSs already! A big THANKS goes out to Ben Bunker, NevadaGunTrustAttorney.com, and 702shooter.com for providing me this cool and valuable opportunity!

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    • 702 November 26, 2011 at 6:04 pm #

      Congrats Eric!

      I've notified Ben. Hopefully he will be in contact with you shortly to work it all out.

      Thanks again to Mr. Bunker for sponsoring this giveaway.

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  32. vegaseric December 9, 2011 at 10:45 am #

    Just an update... I received my NFA Trust yesterday and I couldn't be more pleased with the process. Ben took the time to explain the document and how it was to be used during NFA purchases/builds. All and all I highly recommend NevadaGunTrustAttorney.com and I'm sure I will be doing business with them again in the future!

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    • 702 December 9, 2011 at 2:56 pm #

      Thank you for the follow up Eric. Glad it all worked out so smoothly for you. :)

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  33. rffreq January 7, 2012 at 8:23 pm #

    I think we all need these trusts. Please sign me up.

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  34. fakashoot January 29, 2012 at 2:55 pm #

    im interested

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  35. radrobbeatty February 3, 2012 at 2:14 pm #

    Great article, thanks for the info. Wish I had seen this before the giveaway.

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  36. mustv8 February 18, 2012 at 4:51 pm #

    Do you know if this will work in MO.

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    • 702 February 18, 2012 at 4:53 pm #

      As far as I know, an NFA trust is valid in any state that allows NFA items.

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  37. ar February 24, 2012 at 4:33 pm #

    This is a really great idea.

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  38. gunfofhire February 26, 2012 at 8:21 am #

    well in my state I can't have a can, but a sbr would be cool. thanks for the giveaway

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  39. lobster February 27, 2012 at 2:51 am #

    Great prize, Please enter me in the giveaway for a free trust.

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  40. mhersrud February 27, 2012 at 9:31 pm #

    really need to check this out. I need one.

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  41. jdgilbert February 29, 2012 at 5:05 am #

    Been needing to get this done, maybe soon?

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  42. ippeva February 29, 2012 at 3:00 pm #

    nfa all the way

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  43. woodzie March 21, 2012 at 7:22 am #

    Count me in on this one too :)

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  44. cljohnso April 3, 2012 at 2:36 pm #

    sounds like a great concept.

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    • 702 April 3, 2012 at 2:48 pm #

      Concept?

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  45. savage April 14, 2012 at 11:13 pm #

    The bug has bitten me for a SBR down the road, glad to find your services. Savage

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  46. Torcido308 April 19, 2012 at 8:18 am #

    Ready to WIN!!! Please enter me in your drawing. Have a Spec-Tactical Day!

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  47. smidwids April 21, 2012 at 4:11 pm #

    Does anyone know if these trusts work for people out of state?

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    • 702 April 21, 2012 at 4:18 pm #

      An NFA Trust in general will work for any States that allow NFA items. However, if they are prepared by an attorney, the attorney needs to be licensed in the State the Trust holder resides in.

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  48. Boeydafunk April 24, 2012 at 10:35 am #

    Giving away a trust for class III weapons? This gives every one an escuse for an sbr!

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  49. mac2515 May 2, 2012 at 5:45 am #

    The Gun Trust is a necessity in todays world. Thanks for the opportunity to win this tool.

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  50. jonbeile May 2, 2012 at 8:43 pm #

    I need someone I can trust.

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  51. kevinjones702 July 27, 2012 at 4:26 pm #

    that is very interesting. please enter me.

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  52. seahawkkid August 15, 2012 at 6:27 pm #

    Sounds like a great idea

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  53. mkraptor September 6, 2012 at 3:42 pm #

    After reading the article, the ATF has two processes for accessing a classIII license. Apply for one the hard way and spend $200 and headaches or hire an attorney (the one listed) to draft a trust and have less of a headache. I am going to go the attorney route. This article was very useful and informative. And yes I know the giveaway is already passed.

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