a/k/a NFA Trust
Firearms ownership and shooting sports are cherished rights that deserve protecting. It is imperative for us to teach children safe firearms handling and storage practices and exercise that care at home. It is equally important for owners to preserve their children’s constitutional rights to ownership of the heirlooms we collect and enjoy today.
The Zeck Law Offices takes protecting our client’s fundamental rights seriously. The ever increasing regulations imposed on gun owners, licensed firearms dealers, and manufacturers, not only threaten our rights to the firearms we legally own but also the rights of our children to inherit them. It is likely the firearms rights we have historically enjoy and the assortment of firearms available for legal purchase will be substantially
compromised for the next generation.
Our Firearms Trust was developed to protect those rights and assist collectors in pursuing their ideal investments.
Under the Internal Revenue Code as codified, a “trust” is treated as an actual entity, or “person”. Wherefore under the National Firearms Act, this “person” or “entity” can in and of itself possess items such as firearms and
also apply to make firearms. It is quite a Handy little vehicle for asset management and protection.
In the context of firearms ownership a firearms trust can provide for added protection of your assets and a private vehicle for transfer of them upon your death. The most prevalent benefit of holding firearms in trust is anonymity. This includes applying for tax stamps for the creation of firearms, short barreled rifles, short barreled shot guns, any other weapons, and suppressors. It can also be utilized to procure NFA items already on the
registry, IE.: machine guns, and silencers.
Typically, clients are interested in asset protection and assistance with the BATF application process. The trust protects the assets it holds by allowing successor trustees (trust managers) to take control of them when needed. It also provides a vehicle for Grantors (trust creator) to retrieve their assets when not otherwise legally prevented. The focus of the trust is to protect the assets placed in its care by allowing the Grantor to hand pick the individuals who will assure no harm comes to them and our wishes are followed if it becomes necessary. A firearms trust also streamlines the BATF application process requirements and the BAFT processing time, which usually require a CLEO sign off and fingerprinting. Accordingly, our trust expedites the process of purchasing Title II firearms, weapons and suppressors (“Class 3 firearms”).
Without a firearms trust, at the death of an individual who owns a Class 3 firearm, the Class 3 firearm is held in the deceased individual’s estate. The executor of the estate or the family cannot handle the Class 3 firearm because they are not authorized users. The Bureau of Alcohol, Tobacco, Firearms, and Explosives or a FFL dealer will have to confiscate the weapon and keep it until the weapon is transferred out of the deceased owner’s name and into another. If there is no buyer then the property will just sit in the estate of the deceased owner until closed even if specifically mentioned in a will. The right to bequest Class 3 weapons and weapons that are or may become legislatively declared Assault Weapons is under threat of future prohibition. Our firearms trust can out live the Grantor, avoid the probate court and provide protection beyond that of a will. The property in the trust will be transferred to the death beneficiaries listed in the Firearms trust. The successor trustee you appoint will transfer the property from your Firearms Trust to your beneficiary individually or to his/her trust. This is an involuntary transfer; therefore, your beneficiary will not have to pay an additional $200 for a tax stamp per weapon.
Class 3 Firearms are regulated by the Bureau of Alcohol, Tobacco, Firearms, and Explosives. A Class 3 Firearms cannot be transferred unless the transfer is approved by the Bureau of Alcohol, Tobacco, Firearms, and Explosives. An individual who possesses a Class 3 weapon without the approval of the Bureau of Alcohol, Tobacco, Firearms, and Explosives is in possession of a contraband firearm and is subject to severe federal penalties. Contraband firearms come with a $250,000.00 fine and up to 10 years in federal prison. Class 3 firearms consist of several categories: short barreled shotguns, short barreled rifles, machine guns, suppressors, and destructive devices.