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NFA Firearms Trust (Gun Trust) Kit

Author: Amy Wishart, Paralegal
Publisher: Do It Yourself Documents, LLC
Edition: 4th
Available by Download
List Price: $44.95
Our Price: $34.95
All forms are state specific: View States

Availability for the following states:

Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Kentucky, Maine, Maryland, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming

Description

The complete do-it-yourself NFA Trust (Gun Trust) kit with instructions. Thousands sold, ATF approved and not one complaint. 1 out of every 10 sold is to a law firm or lawyer.

Included with this kit are the following:

NFA Trust
Schedule A to NFA Trust
Certification of NFA Trust
Letter to Bank to Open Checking Account in name of NFA Trust
Appointment of Co-Trustee
Acceptance of Co-Trustee
Instructions for Distribution of Trust Property (NFA Weapon(s)) at time of death

TRUST

Frequently Asked Questions

This is the main document and it (along with the Certificate) must be signed by you and then acknowledged by a Notary Public. You will name someone to manage the trust at your death and name beneficiaries in the trust.

Any firearms not specifically left to a designated person can be held in the trust and/or sold by the successor Trustee (the proceeds of any sales are added to the remainder of the Trust); when the trust no longer owns any restricted firearms the trust is distributed to the remainder beneficiaries.

SCHEDULE "A"TO THE TRUST

To exist, a trust must have a "corpus"(i.e., the "body"), so it is necessary to initially fund the trust and then additional assets (e.g., the firearms) can be transferred to an existing trust. The default funding amount is $10; however, since this amount will be used to open the trust checking account, if you wish to initially open the account with a greater sum, simply change the amount on the Schedule "A" to the correct amount. You should sign concurrently with the signing of the trust.

From the ATF

The National Firearms Act (NFA) Branch continually responds to questions regarding NFA firearms in decedent’s estates. We often find that Federal firearms licensees are involved in assisting the executors in disposing of these firearms. We believe some general information and discussion of procedures will help licensees in these situations.

If there are unregistered NFA firearms in the estate, these firearms are contraband and cannot be registered by the estate. The executor of the estate should contact the local ATF office to arrange for the abandonment of the unregistered firearms

For registered NFA firearms in the estate, the executor should take action as soon as possible to arrange for the proper registration of the firearms. Possession of an NFA firearm not registered to the possessor is a violation of Federal law and the firearm is subject to seizure and forfeiture. However, we do allow the executor a reasonable time to arrange for the transfer of the registered firearms in a decedent’s estate. This generally should be done before probate is closed

It is the responsibility of the executor of the estate to maintain custody and control of the firearms and to transfer the firearms registered to the decedent. The firearms may not be transferred to another party, such as a firearms licensee, for consignment or safekeeping. This would be a transfer subject to the requirements of the NFA. The licensee may assist the executor by identifying purchasers and acting as a broker.

The firearms may be transferred on a tax-exempt basis to a lawful heir. The executor would apply on ATF Form 5, Application for Tax Exempt Transfer and Registration of a Firearm, for a tax-exempt transfer to a lawful heir. A lawful heir is anyone named in the decedent’s will or, in the absence of a will, anyone entitled to inherit under the laws of the State in which the decedent last resided. NFA firearms may be transferred directly interstate to a beneficiary of the estate. When a firearm is being transferred to an individual heir, his or her fingerprints on FBI Forms FD-258 must accompany the transfer application. However, if any Federal, State or local law prohibits the heir from receiving or possessing the firearm, ATF will not approve the application

ATF Form 4 is used to apply for the taxpaid transfer of a serviceable NFA firearm to a person outside the estate (not a beneficiary). ATF Form 5 is also used to apply for the tax-exempt transfer of an unserviceable NFA firearm to a person outside the estate. As noted above, all requirements, such as fingerprint cards for transfers to individuals and compliance with State or local law, must be met before an application may be approved. If an NFA firearm in the estate was imported for use as a “sales sample,” this restriction on the firearm’s possession remains. The NFA firearm may only be transferred to a Federal firearms licensee who has paid the special (occupational) tax to deal in NFA firearms or to a government agency.

CERTIFICATION OF TRUST

The Certification sets forth the existence of your Trust and your unlimited right as Trustee to deal with any account or asset held in the Trust. The Certification acts as a short version of the Trust Agreement and gives any third party (e.g., the bank) all the information required from the Trust without getting into the dispositive provisions, which are (and should remain) confidential. Please note, for BAFTE registration, you will have to provide a complete copy of the executed trust.

BANK INSTRUCTION LETTER

This Letter should be given to your bank to create a new checking account for the trust; this account should be used for all payments and fees relating to the purchase of any firearms to be owned by the trust. Please note, as long as you are alive and acting as the Trustee, your trust is characterized (for income tax purposes) as a "Grantor-type Trust"; accordingly, there is no separate tax identification number required for the trust (you will use your Social Security Number) and all income attributable to the trust (e.g., interest and/or gain from the sale of a trust asset) should be shown on your income tax return. FYI, the term "U/A" stands for "under agreement".

APPOINTMENT OF CO-TRUSTEE

Pursuant to federal law, only a current Trustee is permitted to use or even possess a restricted firearm owned by the trust; an unauthorized person in possession of a restricted firearm can be subject to serious felony criminal charges. This Appointment can be used to make any other person or persons a current co-Trustee and, as a result, give such co-Trustee(s) the right to the immediate use of a trust asset. This form is not to be completed until needed.

RESIGNATION OF CO-TRUSTEE

If it is no longer necessary or appropriate to for a person appointed as a co-Trustee to continue to act as such, this form can be used for the resignation of the co-Trustee. Again, this form is not to be completed until needed.

BILL OF SALE

This is an optional form which can be used to transfer any existing firearms into the trust, whether restricted or not.

INSTRUCTIONS FOR THE DISTRIBUTION OF PERSONAL PROPERTY

This is also an optional form and can be completed at any time (you should make copies of it for future use). This form is to be completed by you to designate the distribution at your death of specific items of the trust (i.e., a specific firearm) to specific people. You can add to or change this form as often as you wish without having to amend your trust; if you do add or delete a distribution, you should date and initial the addition or deletion (or complete a new form and destroy the old one).

For answers to any of the following questions, see ATF National Firearms Act FAQ

Which firearms are regulated under the NFA? See ATF FAQ
What is the tax on the transfer of an NFA firearm? See ATF FAQ
May a private citizen register a firearm not previously registered in the National Firearms Registration and Transfer Record? See ATF FAQ
Are there any exemptions from the making or transfer tax provisions of the NFA? See ATF FAQ
Does a licensee that engages in both manufacturing and importing need to pay a separate special (occupational) tax for each activity? See ATF FAQ
Are parts or kits which would convert a firearm into a machinegun subject to registration? See ATF FAQ
Who may qualify as a certifying official on an ATF Form 1 or ATF Form 4 for the making or transfer of an NFA firearm? See ATF FAQ
Does the possessor of an NFA firearm have to show proof of registration? See ATF FAQ
If I have any further questions as to the classification of a paintball or airgun silencer, who should I contact? See ATF FAQ
If an individual is changing his or her State of residence and the individual's application to transport the NFA firearm cannot be approved because of a prohibition in the new State, what options does a lawful possessor have? See ATF FAQ
How does a person qualify to import, manufacture, or deal in NFA firearms? See ATF FAQ
What is the status of unloaded or dummy grenades, artillery shell casings, and similar devices? See ATF FAQ
How can a person legally obtain NFA firearms? See ATF FAQ
What should a State do when an unregistered NFA firearm is acquired through forfeiture or abandonment? See ATF FAQ
Does the registered owner of a destructive device, machine gun, short-barreled shotgun, or short-barreled rifle need authorization to lawfully transport such items interstate? See ATF FAQ
May machine guns be transferred from one registered owner to another? See ATF FAQ
Are Paintball and/or Airgun Sound Suppressers NFA firearms? See ATF FAQ
May a transferor submit an application to transfer an NFA firearm prior to the date on which the transferor receives the weapon? See ATF FAQ
Are muzzleloading cannons classified as destructive devices? See ATF FAQ
Is the chief law enforcement officer required to sign the law enforcement certification on ATF Form 1 or ATF Form 4? See ATF FAQ
Are grenade and rocket launcher attachments destructive devices? See ATF FAQ
If the chief law enforcement official whose jurisdiction includes the proposed transferee's residence refuses to sign the "law enforcement certification", will the signature of an official in another jurisdiction be acceptable? See ATF FAQ

View a sample of a NFA Firearms Trust, By Do It Yourself Documents

NFA Firearms Trust

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