Are you after suppressors or other NFA items? With our NFA gun trust, you’ll be able to have all of your NFA items registered according to ATF standards. Call Michael today to get your Utah NFA gun trust today.
What is an NFA gun trust?
In its simplest form, a trust is basically a contract between you (the trustor) and another person (the trustee) where the trustee agrees to administer certain items that are held in trust. This special form of contract creates a legal entity that the ATF recognizes as a valid person to possess NFA items – things like full auto machine guns, suppressors and Short Barreled Rifles/Shotguns. There are three huge advantages to having an NFA gun trust set up: (1) it allows for exceptional estate planning where you are able to easily transfer the NFA items to your beneficiaries when you pass away, (2) you are able to have more than one person have access to and possession of your NFA items and (3) there is no requirement to have the chief law enforcement officer (“CLEO”) for your area sign off on the NFA item (without a trust, you have to ask your CLEO for permission, submit two copies of fingerprints and two passport photos to the ATF – these things are not necessary with a trust).
What does it cost?
An NFA gun trust to protect your items costs $400 – assuming you don’t want to add on highly specific and ultra customized considerations. This $400 trust fits most people’s immediate needs and will serve as an exceptional means of protecting and possessing your NFA items. Not only does this $400 trust get you a legal trust, but you will also have plenty of time to speak with your Utah gun trust lawyer, Michael Steck, about the intricacies of owning NFA items in a trust. Michael will not only advise you on owning the NFA items in trust, but also help you understand the legal issues surrounding NFA items. Michael is also an NFA firearm manufacturer and can get you whatever suppressor/full auto you are after. Check out some of the NFA firearms his business manufacturers at JoeFirearms.com. Lastly, Michael will prepare you paperwork for you when you decide to purchase your NFA item.
Are there any downsides to getting an NFA trust?
The only real downside to starting an NFA gun trust is the initial cost of setting up the trust. As an individual purchaser, you will not pay this amount and just pay the $200 tax to the ATF for each NFA item. However, if you feel like you would like any of the above mentioned benefits from an NFA gun trust, you should start with getting the trust first rather than waiting until you already have several items. Waiting to get setup with a trust only means headache down the road. It really is in your best interest to start with an NFA trust from the beginning.
Who are the parties in an NFA gun trust?
In setting up your Utah NFA weapon trust, there are several people that need to be identified and listed on your trust. The following information is designed to help you understand who the parties are that are supposed to go into your NFA weapon trust to handle these special firearms.
In its simplest form, an NFA weapons trust is basically a special type of contract that allows you to have access to Short Barreled Rifles, Short Barreled Shotguns, Suppressors and Pre-86 fully automatic machine guns. When I say contract, this contract is designed handle the ownership and management of a very special property (i.e NFA weapons).
So here is a basic list of who the parties are in a NFA weapon trust:
Trustor: The Trustor is the person for who’s benefit the trust is created. You, the person reading this, are most likely the Trustor as you are probably the person who is going to be buying the NFA item. A Trustor is also called a grantor.
Trustee: You, the Trustor, will also be listed as a Trustee. As trustee, you will have a present right to possess NFA items. You will list all those that you want to have an immediate possession to your NFA weapons as trustee.
Beneficiary: A beneficiary is the person to whom you want to leave your NFA items when you pass away. There is some discussion about whether a beneficiary has the ability to access your NFA weapons in this NFA trust. Michael Steck, Esq. will go over this intricate detail with you when you have purchased the NFA weapon trust.