Gun Trusts
The National Firearms Act of 1934 (NFA) and its revision, Title II of the Gun Control Act of 1968, regulate the transfer of various weapons, such as short-barreled shotguns, rifles, silencers and machine guns. According to the law, owners of these weapons must obtain approval from the Bureau of Alcohol, Tobacco and Firearms and pay a mandatory tax to transfer them legally.
Setting up a gun trust with the help of a knowledgeable NFA gun trust lawyer provides a more practical alternative for many owners.
What Is a Gun Trust and Why Is It Important?
A gun trust is a legal entity that enables individuals to legally own and transfer NFA-regulated firearms without going through the application process. Setting up the trust involves drafting the appropriate legal document, designating trustees and beneficiaries and complying with all applicable federal and state laws and regulations.
These trusts are important for several reasons. They ensure that the Class II/III weapons will pass to the intended beneficiary upon the owner’s or trustee’s death. They also help avoid serious legal ramifications that can result from allowing friends or family members to possess these restricted firearms.
What Are the Benefits of Creating a Gun Trust?
The numerous gun trust attributes include:
- Multiple ownership: A trust allows several individuals to share ownership of the weapon. The designated trustees and beneficiaries can legally possess the firearm without undergoing the NFA application process separately.
- Estate planning flexibility: Trustees have the freedom to designate the beneficiaries they wish to inherit the weapons upon their death.
- No signature requirement: Anyone seeking to acquire an NFA-regulated weapon must visit the office of the Chief Law Enforcement Officer (CLEO) for approval, fingerprinting and signatures. Currently, a gun trust allows individuals to bypass this requirement.
- No need for an executor: An executor is an individual or entity responsible for implementing the terms of a deceased individual’s will. A gun trust eliminates the need for the executor, who might be unfamiliar with the NFA laws, to become involved. Instead, these duties fall to the trustee.
- No probate hassles: Probate is the process of overseeing, administering and distributing the estate’s assets. Firearms held in a gun trust generally do not need to go through probate, which saves time and reduces costs.
- Continuity: The weapon can remain in the trust even after the owner’s death. The trust can appoint successor trustees to ensure ownership continuity.
Why Trust MPL Law?
MPL Law is a relationship-based firm that has served the legal needs of York County, Pennsylvania, for more than 30 years. We have a team of experienced attorneys who understand complex gun trust laws and how they apply to various scenarios. Our lawyers focus on finding solutions that benefit your personal and professional life.
As a smaller firm, MPL Law will provide prompt, personalized service. We will take the time to identify and address your needs and concerns throughout the process.
Connect With an Experienced Gun Trust Lawyer
Ensure your firearms end up in the right hands and avoid severe criminal charges for you and your friends and family members. Take the next step and call us at 717-845-1524 or get in touch with us online to speak to a gun trust attorney.