What is a gun trust?
What is a gun trust? It’s a purpose-built revocable living trust (just like your family trust) that is primarily used to acquire and share use of firearms regulated by the National Firearms Act (NFA), such as suppressors (silencers), short-barrel rifles, short-barrel shotguns and even machine guns manufactured prior to 1986. It’s set up a little differently, however, and those differences can be very important.
A gun trust allows you to permit others to legally possess NFA weapons registered to the trust outside of your presence by appointing those persons as a trustee, whereas such weapons can only be used by others in your presence if they are registered to you as an individual.
While that is its primary purpose and benefit, there are other good reasons to use a gun trust to own and manage your firearms. A gun trust will ensure that no probate is necessary to transfer your weapons after your death (especially NFA weapons). And we believe one of the best benefits of a gun trust is to provide a comprehensive management system for your firearms to ensure that your successors know how to legally administer them in your absence.
How to Establish a Gun Trust
There are numerous options available to create a gun trust, but where the penalties for doing something wrong with firearms can result in 10 years in prison and even $250,000 in fines, we believe there is far greater value in providing that thorough roadmap for administering firearms in the estate to your family or other successors than in saving a dollar or two in postage when mailing your 4-page trust copy to the ATF with an application for an NFA weapon.
Speak to a Salt Lake City Trust Attorney
We offer three different trust levels: Bronze ($200), Silver ($500) and Gold (varies, depending on complexity). With each level, our goal is to make sure that you understand what you’ve created, how you will use it and to familiarize you with the NFA application process, then to continue to be your resource for any questions you may have in the future.