You are probably already familiar with the basics of an NFA gun trust if you have established an estate trust or another standard trust in the state of Missouri. Gun trusts are documents designed to do any or all of the following for you:
- Provide guidance for the beneficiaries of the trust
- Protect your property from seizure
- Avoid fees and delays associated with probate court
- Reduce tax penalties
- Facilitate the transfer of property
There are, however, major differences between a generic trust and one you establish to deal with firearms. These distinguishing characteristics are necessitated by the set of federal laws governing the sale, possession and manufacturing of your firearms: collectively known as the National Firearms Act.
The resource page from the Bureau of Alcohol, Tobacco, Firearms and Explosives on the NFA underlines the complicated and ongoing development of this law. It also contains links to some of the major concerns facing those attempting to build or transfer NFA-regulated firearms, such as the necessity for acquiring a NFA law letter. With an NFA trust, it could be possible to handle some of the more complicated aspects of owning and transferring machine guns, silencers and other similar weapons.
Not all weapons transfers require, or even benefit from, your establishing an NFA gun trust. However, a trust designed for firearms has the potential to protect you and your weapons more effectively than one written to handle other valuable assets, such as real estate, jewelry or financial holdings. This article is not intended as legal advice, please use it only as an educational reference.