New Rules in Effect for NFA Firearm Purchases

As of today - July 13, 2016 - rule 41F goes into effect for purchases of NFA firearms such as suppressors (silencers) and SBRs.  For purchases going forward the process is essentially the same for individuals and trustees of gun trusts.  So one of the key benefits of using a gun trust is now lost:  simpler registration process.  But there are still benefits to using a gun trust rather purchasing a NFA firearm individually. 

• Expands list of eligible possessors of NFA items.  A Gun Trust may expand the list of eligible persons who may possess, use, or transport a NFA firearm.  Any current trustee is eligible including the initial trustee and any later named co-trustees.  For example, you might establish a Gun Trust and later add your spouse and child as co-trustees.
• Prevents accidental felonies.  A Gun Trust may authorize a current trustee to grant temporary use and possession of NFA firearms to successor trustees, beneficiaries, and other persons while in close physical proximity to the trustee.  For example, a trustee lets a friend borrow the trustee’s NFA firearm while both are at the shooting range.  This may be permitted by the trust document assuming the friend is not a “prohibited person” under the law.  Also, a properly drafted Gun Trust will strictly prohibit unauthorized use and handling of NFA firearms during the initial trustee’s lifetime and after death, and educate all persons involved about relevant laws and regulations.  This will help prevent the trustee and the trustee’s family from committing accidental felonies.       
• Estate planning.  Upon incapacity or death of the initial trustee, a successor trustee is pre-designated to manage the trust and possess and distribute firearms without any probate or other court interference.         
• Inheritance protection.  Upon incapacity or death of the initial trustee, a Gun Trust may provide long term protection of the trust property from creditors of the beneficiaries and in the event of a beneficiary’s bankruptcy or divorce.