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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

Our NFA Trust kit for firearms with instructions is ATF approved and has an outstanding record with no complaints. It is the best option available in the market and has already been sold in thousands. In fact, 1 out of every 10 sold is to a law firm or lawyer. So, rest assured that you are making the right choice with us.

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

Please review the following document carefully. Both the document and the certificate must be signed by you and then notarized by a Notary Public. You will also need to appoint someone to manage the trust after your death and name beneficiaries in the trust.

If any firearms are not designated for a specific person, they can be held in the trust or sold by the successor Trustee. The proceeds from any sales will be added to the remainder of the Trust. Once the trust no longer owns any restricted firearms, it will be distributed to the remainder beneficiaries.

SCHEDULE "A"TO THE TRUST

In order for a trust to exist, it must have a "corpus" or a "body". This means that the trust needs to be initially funded, after which additional assets, such as firearms, can be transferred to the trust. The default funding amount is $10. However, if you wish to open the trust checking account with a greater sum, you can simply change the amount on Schedule "A" to the desired amount. Please note that you should sign the document at the same time as the signing of the trust.

From the ATF

The NFA Branch receives various inquiries about the disposition of NFA firearms in estates of deceased individuals. It has come to our attention that Federal firearms licensees may be involved in assisting executors in disposing of such firearms. In order to provide help to licensees in such situations, we have compiled some general information and procedures to follow.

"If there are any NFA firearms in the estate that have not been registered, they are considered 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."

If there are any NFA firearms that are registered in the estate, the executor needs to take action as soon as possible to ensure that they are properly registered. Possession of an NFA firearm that is not registered to the possessor is a violation of Federal law, and the firearm can be seized and forfeited. However, we do give the executor a reasonable amount of time to arrange for the transfer of registered firearms in a decedent's estate. Ideally, this 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 cannot be transferred to another party, such as a firearms licensee, for consignment or safekeeping. This would be considered a transfer that falls under the requirements of the NFA. However, the licensee can help the executor by identifying purchasers and acting as a broker.

Firearms can be transferred to a lawful heir without any tax on it. The executor must apply for a tax-exempt transfer using the ATF Form 5, which is the Application for Tax Exempt Transfer and Registration of a Firearm, and submit it to the ATF. A lawful heir is any individual who is named in the decedent's will or anyone who is entitled to inherit under the laws of the State where the decedent resided. NFA firearms can be transferred directly to a beneficiary of the estate. While transferring a firearm to an individual heir, the transfer application must include their fingerprints on FBI Forms FD-258. However, if there is any federal, state, or local law that prohibits the heir from receiving or possessing the firearm, the ATF will not approve the application.

To transfer a serviceable NFA firearm to someone outside the estate (who is not a beneficiary), you need to fill out an ATF Form 4. On the other hand, if you want to transfer an unserviceable NFA firearm to someone outside the estate, you need to fill out an ATF Form 5. Keep in mind that the application will only be approved if all necessary requirements are met, including fingerprint cards for transfers to individuals and compliance with state or local laws.

If an NFA firearm in the estate was imported as a "sales sample," it can 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. Possession of the firearm is still restricted even after transfer.

CERTIFICATION OF TRUST

The Certification confirms the existence of your Trust and your authority as the Trustee to manage any account or asset held in the Trust. It is a brief version of the Trust Agreement that provides all the necessary information to a third party, such as a bank, without revealing the confidential dispositive provisions. However, please note that in order to register with BAFTE, you will need to submit a complete and executed copy of the trust.

BANK INSTRUCTION LETTER

Please present this letter to your bank to create a new checking account for the trust. This account should be used for all payments and fees related to the purchase of any firearms to be owned by the trust. Please note that while you are alive and acting as the Trustee, your trust is characterized as a "Grantor-type Trust" for income tax purposes. As a result, you don't need a separate tax identification number for the trust, and all income attributable to the trust (such as interest and/or gain from the sale of a trust asset) should be shown on your income tax return. "U/A" stands for "under agreement".

APPOINTMENT OF CO-TRUSTEE

According to federal law, only a trustee who is currently associated with a trust is allowed to use or possess a restricted firearm that belongs to the trust. If anyone else is found in possession of such a firearm, they could face serious felony charges. You can use this Appointment form to designate another person or persons as co-Trustees and grant them immediate use rights to trust assets. Please note that this form should only be completed when necessary.

RESIGNATION OF CO-TRUSTEE

"If it is no longer necessary or appropriate for a co-Trustee to continue acting in their role, this form can be used for their resignation. Please note that this form should only be completed when necessary."

BILL OF SALE

This form can be used to transfer any existing firearms to the trust, regardless of whether they are restricted or not.

INSTRUCTIONS FOR THE DISTRIBUTION OF PERSONAL PROPERTY

This is an optional form that you can complete at any time. It is recommended that you make copies of it for future use. The purpose of this form is to designate the distribution of specific items in your trust, such as a firearm, to specific people after your death. You can modify or add to this form as often as you wish without having to amend your trust. If you do make changes, make sure to date and initial them 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 who 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 transport such items interstate lawfully? 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 before 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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