Contact Us Today
Office LocationKamerow Law Firm, PLLC
5001 Seminary Road, Suite 110
Alexandria, VA 22311
If you’ve never heard the term “Gun Trust”, then you aren’t alone. A gun trust is a trust that is specially created for firearms ownership. Usually, the creation of a gun trust is used for weapons that are under the strict regulations of federal and state agencies, but they may hold any weapon.
Types of weapons to Hold in a Trust
Quite often, weapons that are held in gun trusts are regulated by two federal laws: The National Firearms Act of 1934 (NFA) and its revision, and Title II of the Gun Control Act of 1968. These weapons are referred to as NFA or Title II firearms. These weapons include machine guns, short-barreled rifles, short barreled and sawed-off shotguns, silencers, grenades, and more.
The weapons regulated by these two acts must have a serial number and be registered with the ATF. If the weapon isn’t already registered, it is illegal to own and cannot be registered. These weapons can only be possessed and used by the registered owner, and if you wish to transfer ownership, the ATF must approve. Transfer of the property is also subject to a $200 tax.
Why form a Gun Trust?
Many people feel that a typical living trust document will be sufficient when leaving an NFA weapon to their beneficiaries but utilizing a gun trust is much more advantageous. Some of these advantages include:
- More than one person may be named as trustee. If you name multiple people as trustee, then each person will have the right to own and use the firearms or weapon in question.
- Avoiding transfer requirements. As stated above, if you wish to transfer ownership of the gun, you must be approved by the ATF as well as pay a $200 tax to do so. When you utilize a gun trust, you can arrange for it to remain in effect indefinitely. This arrangement means that each person named as trustee will retain their ownership status as co-owners and avoid the transfer process and tax.
- Benefit your executor. Forming a gun trust will be beneficial to the executor of your estate especially if they are not familiar with the many rules and regulations surrounding the transfer of NFA weapons. When a trust is in effect, the executor is not involved, only the trustee(s).
- Avoid Probate. Trusts are not subject to probate.
Writing a Gun Trust
Hiring an attorney who has experience in this field of law is the best course of action to protect your estate and your heirs. If you are in the Alexandria VA area and need to form a gun trust for your NFA weapons, contact the Kamerow Law Firm today. Our attorneys understand the complexities of estate planning and how to protect best your interests, beneficiaries, and property. Call us at 703-370-8088 or fill out the online contact form on our website and someone will schedule your free initial consultation where we can discuss your specific situation.