The National Firearms Act of 1934 and later Acts of Congress created obstacles for gunowners who wish to possess certain firearms. Destructive devices, machine guns, short-barreled rifles, short-barreled shotguns, and silencers are all considered NFA firearms. One of the best options for American citizens who want to possess these items is an NFA Gun Trust.
Trusts are legally recognized instruments used to manage assets. Think of a trust as a “box”. The property of the trust – in this case, NFA items – is placed inside the “box” of the trust. The trust has a beneficiary – the person for whom the items in the “box” are intended. A trust also has a Settlor – the person who is putting items in the “box” and a trustee – a person (typically the Settlor but can be someone else) who has the authority to manage the property inside the “box.”
NFA gun trusts offer significant flexibility in the possession of NFA items. Under current law, each trustee may lawfully possess the items in the trust. Furthermore, trustees can be added or removed with great ease. Thus, this allows significant flexibility in the possession of NFA items.
But why is this flexibility needed? Because it is illegal for anyone but the person to whom the NFA item is registered to possess the NFA item outside the presence of the registered party! Let’s say Bob owns an NFA item as an individual. If Bob wants to let his friend borrow his NFA item to go shooting, Bob’s only option is to go shooting with his friend so that the NFA item is always within his possession and control. If Bob loans the NFA item to his friend and the friend goes off without Bob, a “transfer” of the NFA item has likely occurred and both Bob and his friend are felons.
With a trust, however, Bob can add his friend as a Trustee to the trust, giving his friend full legal authority to possess and use the NFA items without running afoul of federal law.
Furthermore, NFA items are exceptionally pricey. A Trust, first and foremost, will help shield these lucrative assets from potential creditors in the event of a lawsuit. It helps avoid probate, shields the firearms from future transfer restrictions, and allows more than one individual to lawfully possess the firearm.
Getting a gun trust from Stone Rose Law comes with tremendous peace of mind, knowing that your trust was generated by a local attorney with expertise in firearms law and regulation. Furthermore, our trusts are specifically designed for maximum flexibility and ease of use. After retaining us for a trust, and a brief consultation, we will provide you with not only the trust, but explicit and easy-to-follow instructions for how to do anything you would ever need to do – adding and removing trustees and beneficiaries, adding or removing property to the trust, and instructions for how to manufacture or purchase your NFA items.
On top of all that, you have the peace of mind of knowing that a local attorney is available to answer any questions or to make any reasonable adjustments to the trust. Simply put, we do not draft and forget – retaining Stone Rose Law for your NFA gun trust needs means you’ve got our attorneys ready to answer any questions or issues that may arise.
Stone Rose Law represents firearm dealers, gun owners, importers, and manufacturers in the state of Arizona – although we are proud to represent clients all across the United States as well. Led by experienced trial attorneys and military veterans, our firm has the knowledge, training, and experience necessary to ensure your gun rights are protected within existing laws. Whether you’re thinking about purchasing your first NFA weapon, or have lawfully owned NFA weapons for years, give us a call at 480-498-8998 and experience the difference Stone Rose Law can make.