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. Ready to apply? Fill out the form.
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 two primary advantages to owning an NFA gun trust: (1) it allows for exceptional estate planning where you are able to easily transfer the NFA items to your beneficiaries when you pass away and (2) you are able to have more than one person have access to and possess your NFA items. Due to the changes to the CLEO (Chief Law Enforcement Officer)/fingerprint/photo factors in July 2016, the CLEO now receives notification of the NFA item, rather than the previous process of CLEO authorization (more info here).
What does it cost?
An NFA gun trust to protect your items costs $200 for the Basic, $350 for the Advanced and $550 for the Premium. The Advanced 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 $350 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 was also an NFA firearm manufacturer and can direct you with whatever suppressor/full auto you are after.
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.
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 may also be 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.
Getting your NFA Gun Trust
Getting your NFA gun trust begins by filling out the following form. If you have additional questions or would like additional information, please watch this presentation about the National Firearms Act and Gun Trusts. You can also contact Clarior Law at 801.505.9202.