Trusts remain the preferred method of owning NFA items!

The Law Office of John Pierce, Esq. (276) 206-9615

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Trusts remain the preferred method of owning NFA items!

Even after the implementation of the 41F regulatory changes, there are numerous benefits to using an NFA trust to purchase NFA items instead of acquiring them as an individual.

Do you want to be able to share your NFA items with friends and family?

The creator of a trust may name any number of joint trustees or lifetime beneficiaries. There are options to minimize or completely eliminate the fingerprinting and

photography requirements for others on your trust. Any trustee may make unlimited use of trust assets. Any trustee may allow shooting acquaintances to shoot trust assets in their presence

without those acquaintances being listed on the trust.

What if you became medically prohibited from owning firearms?

Imagine that you suffered brain damage in an accident and were declared mentally incapacitated. What would happen to your thousands of dollars of NFA items?

With a trust, trust assets do not become contraband when trustees become disqualified. Trustees who become disqualified are automatically removed from the trust. The trust retains ownership of trust assets for the benefit of your beneficiaries.

Don't leave your family an `accidental felony'!

If you passed away tomorrow, would your family know which of your firearms are NFA items and therefore require special attention? Would they know what to do?

With a trust, trustees are given detailed instructions on how to handle NFA items.

Give your family maximum flexibility when you pass away

Trust assets avoid probate. Trust assets pass tax-free on a form 5 to named beneficiaries. Trust assets may be held for underage beneficiaries.

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