If an estate includes registered NFA firearms, the executor is responsible for maintaining custody and control of the NFA firearms. The executor must also arrange for transfers of the items. The executor should transfer the items prior to the close of probate. WARNING: The Firearms may not be transferred to…
If you have class 3 firearms and someone other than you knows the combination to your gun safe you could both go to jail. This is a concept called constructive possession. If you have given someone the ability to access your class 3 firearms, you have violated the NFA. If…
When manufacturing a class 3 firearm that is restricted by the NFA it is important to follow the guidelines found in the ATF Publication 5300.4 – section 479.102 ” How must firearms be identified?” Generally, any gun manufactured, imported, or made on and after January, 2002 must have the manufacturers…
If you are one of the many people who have used Quicken to create a Revocable Trust for the purchase of Class 3 Firearms who is concerned about having created an invalid trust and having violated the National Firearms act, we can review your trust to see if the trust…
This is a personal question that can only be determined after evaluating your particular circumstances. Some of the questions that must be answered include, whether you are married, if so, does your spouse have access to the weapons, do you want your spouse to have access? Is there someone else…
Yes a settlor is required for each NFA trust. The Settlor is the person who is contributing the property to the trust. They receive the benefit of the trust while there are items in it. They may not manage or use the property as this is a job for the…
The National Firearms Act defines what is criminal conduct. The prohibited activities include but are not limited to: Engaging in the business of firearms (manufacturing, importing, selling) without a license and tax; Receiving a firearms in violation of the act; Possessing a firearms in violation of the NFA; Receiving or…
Violations of the NFA are punishable by 10 years in prison, forfeiture of all devices or firearms in violation, and the individuals right to own or possess additional firearms in the future. In addition, there is a penalty of $10,000 for each of certain violations. In addition, a willful attempt…
Often I am asked if there are annual fees associated with a NFA Firearms trust. In most states, there is no registration of a Firearms trust and because it is revocable there are no tax returns or governmental fees associated with the yearly maintenance of the NFA trust. This is…
NFA TRUST FORMATION is a process of creating a Trust for the specific purpose of Purchasing Class III firearms and transferring Class III firearms. A NFA TRUST is specifically created to comply with the TItle II requirements in dealing with Class 3 firearms. Class 3 Firearms are items regulated by…