Gun Trusts and Their Protection From New Gun Control Legislation

[dakota52]

Missouri residents have only been allowed to establish and use Gun Trusts since August 2011. I realize the Trusts' original advantage was for buying Title II NFA items without the required Fingerprinting and CLEO requirements. However, with the seemingly inpending Gun Control legislation at both the state and federal levels their use has changed. Gun owners are placing both their Title I and Title II firearms into them. Does anyone have any experience with Gun Trusts to share? There seemingly is only one attorney in Missouri who is currently starting them. What are the advantages and costs? Will the Trusts' protect firearms from any new gun control laws?

 

[Sauer]

I'd love to know myself. I live in KC and have been kicking it around in the back of my head too.

 

[dakota52]

The number of Attorneys forming Gun Trusts has really increased in just the last month. What gives?

 

[Purple]

I have a gun trust and my attorney said to not transfer any gun that does not meet NFA requirements for a Title 1 or 2. With all the potential gun legislation in the works, if your non NFA gun becomes a Title 1 or 2, then you may be able to transfer. I have not yet had that discussion with my attorney.

 

[maine04619]

A NFA trust is just that a TRUST. For all intents a trust is a pre will. You can not hide things in it. If something is illegal where you live placing it in a trust does not make it legal. If it did the states that ban NFA items would all have tons of them. People in MD, NY, NJ, CT, CA, IL and Mass woudl all have them to bypass all those states stupid laws.

I have had a trust for my NFA stuff for over 20 years now. The benefit a trust gives you are not the avoiding the local le sign off and fingerprint cards. With a NFA item ona form 1,4 or 5 with you're name on it means YOU the person named must be in control of the item at all times. If say you're wife was to go out with a pistol and a suppressor you owned and shoot them in YOUR yard when you are at work then you both have committed a federal crime. With a TRUST you put her name and other names on it and they can all use the items. as they are co owners of said trust. Also when you die you can only leave the NFA items to you're spouse or biological kids tax free ( they still have to do a new form 4 ). You can put anyone you want on a trust and when you go they get the items on a form four tax free.

 

[JohnLaw]

Go to www.billcarns.com for NFA Trusts

 

[nontechguy]

Don't ask. Don't tell. If they don't know about it, they can't ask about it.
Not that I have any guns. They are nasty things. :sarcastic:

 

[dakota52]

Are the gun Trusts multi-generational or will sons/daughters who inherit firearms through them have to then form their own trusts?

 

[maine04619]

Are the gun Trusts multi-generational or will sons/daughters who inherit firearms through them have to then form their own trusts?

Trusts last until the grantor DIES. Then the assets are dispersed out of the trust. If you take the items on a PERSONAL form 4 then there is no tax. If you want to place them in another trust then you have to pay for a NEW stamp for each NFA item.