Recently we have seen the ATF deny ATF form 20’s unless you include “In accordance with North Carolina General Statute 14-288.8” in Block 5 – The Reason for Transportation of the Firearms – (Example Permanent change of Address) While this should not apply to silencers, it will not hurt to…
If a Gun Trust Lawyer® provided your gun trust, it will not require a tax return. As stated in the instructions memorandum that comes with every NFA Gun Trust from a Gun Trust Lawyer®, the trust is a disregarded entity and any transactions that create a gain or loss pass…
We have been a member of the NRA Estate Planning Professional Network for several years. In doing so, we have encountered a number of clients who want to leave certain items or a percentage of their firearms to one or more of the NRA Endowment Funds. Recently we modified our…
One of the most common questions or misconceptions is regarding the ability to make a Machine Gun by using a Gun Trust. While you can make a Machine Gun with a Gun Trust, the process or the cost is not what most would consider acceptable. First you are not making…
A validly created Gun Trust should be valid in another state if you move. While the Gun Trust may not appear valid to the ATF or BATFE, it will be recognized under state law as valid if validly create in another state. When you create a Gun Trust or modify…
An agent acting under a power of attorney for an individual who has rights to own, possess, or use NFA firearms as an individual or in a NFA Firearms Trust, may not take possession, hold, use, or have access to the NFA firearms. There is only one situation when an…
First let me say there is no $500 one-time tax for unlimited transfers. There is a $500 yearly fee for a FFL to obtain a Class 3 SOT which allows them unlimited transfers for that year from other dealers for items owned by their FFL. This fee needs to be…
We often get calls from clients asking how many original trusts should they have or sign. Our instructions state that a copy of the trust is the same as an original. Using this logic, it would seem clear that there is no benefit to having multiple original copies of your…
NO. While a FFL with a Class III SOT is licensed to purchase and sell TItle II firearms, you as an individual, through a Gun Trust – Available at Gun Trust Lawyers®, or as a business entity do not have to have a FFL(in most states). In the past some…
We often get asked questions regarding sending the original trust to the ATF. You should never send your original trust. You should only send a copy. The ATF have been known to have lost applications in the past and they never send back your original trust. If your Gun Trust…