Public Service Announcement: NFA Gun Trusts*
We all know that NFA items (sound suppressors, SBRs, machine guns, AOWs) are highly regulated by the ATF, correct?
We all know that possession of these items outside of the strict legal requirements is a terrible idea that can land you in federal prison, correct?
We also know that these items are expensive, the application process is tedious, and the approval wait times are around 7 to 12 months...
So, why would you skimp a few bucks and seek registration through a flimsy "Trust" template that you found on the internet or got from Billy Bob at the range?
I recently received a "trust template" from a BS member, who asked me to look over it. Apparently, this document has been circulated as a "gun trust" and folks are submitting applications for NFA items using it. The document/template was drafted as a standard, boilerplate, living trust and makes absolutely no mention of NFA items. It contained conflicting provisions that would suggest shared ownership and registration of these items between multiple persons and entities. There were no provisions as to who can and can't possess the NFA items, nor how the items would be distributed upon the termination of the trust. There were a series of other inadequacies in the document and frankly, for the purposes of obtaining NFA items, the document is a turd. Do not build your NFA collection on a foundation of turds.
I'm not saying that if you fill in the blanks and submit the template, that the ATF won't "rubber-stamp" approve it- They are understaffed and overworked, and they are not lawyers. But, I can tell you that these garbage trust templates will fail when put under a microscope. I would not want to be the guy left holding the bag if / when the circumstances change in your own unique situation, or in the manner in which these items are regulated.
Much like you wouldn't build a $1500 AR and mount a $30 WalMart red dot on it, your gun trust is not the area in which to be stingy. If you needed surgery, you wouldn't start combing the internet for cheap knives to do it yourself, you would call a doctor.
My advice: If you are thinking of purchasing NFA items, speak with a Louisiana attorney about establishing a valid NFA gun trust.
* Yes, I am an attorney and I often help my clients establish NFA gun trusts. The above message is not a plug for my services. It is a cautionary notice. The fact that I work with gun trusts does not make these statements any less true. To be fair, there are several other attorneys on this board, besides myself, who can help you with gun trusts and I will gladly give you their contact information upon request.
ETA: By the way, I am not insinuating that you MUSt have a trust to buy NFA items, but the legal benefits far outweigh the cost.
We all know that NFA items (sound suppressors, SBRs, machine guns, AOWs) are highly regulated by the ATF, correct?
We all know that possession of these items outside of the strict legal requirements is a terrible idea that can land you in federal prison, correct?
We also know that these items are expensive, the application process is tedious, and the approval wait times are around 7 to 12 months...
So, why would you skimp a few bucks and seek registration through a flimsy "Trust" template that you found on the internet or got from Billy Bob at the range?
I recently received a "trust template" from a BS member, who asked me to look over it. Apparently, this document has been circulated as a "gun trust" and folks are submitting applications for NFA items using it. The document/template was drafted as a standard, boilerplate, living trust and makes absolutely no mention of NFA items. It contained conflicting provisions that would suggest shared ownership and registration of these items between multiple persons and entities. There were no provisions as to who can and can't possess the NFA items, nor how the items would be distributed upon the termination of the trust. There were a series of other inadequacies in the document and frankly, for the purposes of obtaining NFA items, the document is a turd. Do not build your NFA collection on a foundation of turds.
I'm not saying that if you fill in the blanks and submit the template, that the ATF won't "rubber-stamp" approve it- They are understaffed and overworked, and they are not lawyers. But, I can tell you that these garbage trust templates will fail when put under a microscope. I would not want to be the guy left holding the bag if / when the circumstances change in your own unique situation, or in the manner in which these items are regulated.
Much like you wouldn't build a $1500 AR and mount a $30 WalMart red dot on it, your gun trust is not the area in which to be stingy. If you needed surgery, you wouldn't start combing the internet for cheap knives to do it yourself, you would call a doctor.
My advice: If you are thinking of purchasing NFA items, speak with a Louisiana attorney about establishing a valid NFA gun trust.
* Yes, I am an attorney and I often help my clients establish NFA gun trusts. The above message is not a plug for my services. It is a cautionary notice. The fact that I work with gun trusts does not make these statements any less true. To be fair, there are several other attorneys on this board, besides myself, who can help you with gun trusts and I will gladly give you their contact information upon request.
ETA: By the way, I am not insinuating that you MUSt have a trust to buy NFA items, but the legal benefits far outweigh the cost.
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