What Is A Gun Trust?
AN NFA GUN TRUST CAN ACQUIRE, MANAGE AND SHARE NFA WEAPONS
Once you’ve received a silencer, SBR or machine gun registered in your name, the National Firearms Act says YOU are the only person permitted to use it.
The NFA prohibits the “transfer” of an NFA weapon without prior approval of an appropriate transfer application by the ATF.
The word “transfer” is defined by the Act to include loaning the weapon to any other person. Unfortunately, the word “loan” or “loaning” is not defined by the statute or any regulations. So you can never be sure whether you are breaking the law.
UNAPPROVED TRANSFER = 10 YEARS IN PRISON AND UP TO $250,000 IN FINES!
Although ATF field agents may tell you that permitting your buddy to shoot your NFA weapon while in your presence is perfectly legal and doesn’t count as a “transfer,” can you be certain that a prosecutor is going to have the same definition of “transfer” and “loan” if someone is killed or injured when using your NFA weapons?
An NFA gun trust permits beneficiaries and co-trustees of your trust to legally use and have possession of your NFA firearms – even outside your presence (if you want to permit that, of course).
New regulations adopted by the ATF require that all currently serving "responsible persons" (typically trustees) obtain fingerprints and photographs, fill out the new Form 23 Responsible Person Questionnaire, and notify their CLEO of the application, each time your trust acquires a new NFA weapon. These new regulations can make the purchase of new NFA weapons significantly more difficult and time-consuming if the names of co-trustees are built directly into your trust document.