Differences in trusts....

[JD8]

Can someone explain to me the significance of a "Gun trust" as opposed a regular trust? If you have a regular trust can you purchase NFA items? or is there something imperative in a "Gun trust" for ownership? Any lawyers or vendors know the difference?

 

[JD8]

I guess nobody knows?

 

[Gabriel42]

Copied from AR15.com:

I recommend creating a separate trust just for NFA items for several reasons. First, the people I might want to let use my suppressor are not the people who will inherit from me eventually. Second, there are legal restrictions to the ownership of NFA devices that are not addressed in a standard trust, Third, people often rewrite their Trusts as the years change and a simple mistake could invalidate the Trust.

There are several other reasons but you get the idea.

DISCLAIMER: I am an attorney who prepares NFA Trusts so I may be a bit biased.

 

[dak]

IANAL but a "gun trust" will have clauses that exclude beneficiaries or trustees based on age and criminal record. I.e. if you die and the primary beneficiary gets popped for a weapon's charge then it would defer to the secondary.

 

[FullAuto]

I was told to set up my NFA trust separate and not combine it with any other trust I set up (for property). I didn't question it too much. I figured there were some kind of complicated reasons that someone else has figured out for me. If this is how it's done (special NFA trust), then that's what I'll do.