Unfortunately, the answer is no. The ATF considers the trust as a separate legal entity and the tax must be paid for the additional transfer. Given that this is essentially an tax by the IRS, it would seem logical that the tax would be waived because a revocable trust is…
Just got an email from Kenn Blanchard, the host of The Urban Shooter Show and author or Black Man with a Gun asking if I could talk about Gun Trusts tonight June 14, 2010 at 7:30 EST. If you have questions, you may want to listen to the podcast.
Auction arms has a FFL Finder that may help you find a local dealer to do your Class III Transfers. Check out the FFL Finder.
Want to ask a question about Title II firearms or the NFA and NFA trusts, I will be the guest of Tom Gresham on Gun Talk tomorrow (June 6th) at 3 PM EST. Call 1-866-825-5486 to ask questions or just email us. If you do not get Gun Talk in…
While times have varied greatly over the last few years, it appears that the time your ATF Form 4 or Form 1 will take for approval seems to be tied to who the examiner is. A website NFATRACKER.com is collecting information on the times and offers some reporting on how…
Some dealers are currently providing trusts to their customers to avoid the Chief Law Enforcement Officer (the “CLEO”) sign-off that is required for individual purchasers of Title II Firearms. When a non-lawyer dealer fills out or creates a trust for an individual they are violating their state’s unauthorized practice of…
Many individuals are using Quicken, LegalZoom, or traditional revocable trusts to purchase firearms regulated by the NFA. A traditional trust is not appropriate for the purchase, transfer, or use of NFA firearms because of the unique characteristics of these firearms. A typical revocable trust is created to protect an individual…
Here is a clip from Fox News about gun safety and Eddie the Eagle, the NRA mascot. Watch the latest news video at video.foxnews.com
Alabama Governor Riley signed a bill into law making Short Barreled Riffles and Shotguns legal to own. The law was signed on 4/14/2010 and becomes effective on 7/5/2010. If you have a NFA Gun Trust, there is nothing you need to do, to be able to purchase these items after…
Paul Clark has written an article where he notes that if you use of most Title II firearms during a crime of violence or drug trafficking you are subject to a 30 year mandatory minimum sentence. It appears that the 30 year sentence applies to the possession and its use…