Can Co-Trustees buy and sell property in the Trust?
No – you are the one and only Settlor. This means that only you can buy and sell property in the Trust. This protects Trust property and grants a level of security to you.
Can beneficiaries also use Trust property?
Beneficiaries can use Trust property, but only if they are also listed as Co-Trustees.
Who can witness the Trust execution?
Any person that is not a beneficiary that is also the age of majority may witness. That being said, the notary and beneficiaries cannot be witnesses.
I’d like to amend my Trust – how do I do that?
The amendment process is very straightforward. Please complete any of the amendment forms attached in this packet. If the change is an amendment, just add it to your Trust paperwork. If the change is to revoke an amendment, simply remove the page from the Trust.
Can I put my Title I (standard firearm collection) in my NFA Trust?
Yes! We believe that this is a great way to plan for the future of your estate. You’ll need to complete the Assignment of Property form and keep it with your Trust.
Can I put other property in my NFA Trust?
This trust was created for firearms and NFA property. We recommend using this for weapons and firearm-related property, specifically.
Should I create a bank account with my Trust?
Contrary to popular belief, you do not need to create a bank account for this. In fact, NOT making a Trust bank account will make the entire process simpler, so we recommend that. You can always pay for your NFA weapon with your own personal funds.
Why does the Trust mention a deposit of $1?
This is a formality, but it ensures that your Trust always contains property, and is therefore always valid.
Do I need to engrave any NFA weapons? If so, how?
If you are starting with a manufactured firearm, you can adopt the existing model, serial and caliber. You must add your manufacturer (Trust) name, and city/state. If you are creating a firearm from nothing (or an 80%) you must create all of that information. Please consult with the ATF for further guidance.
I have a short barrel rifle / short barrel shotgun – where do I engrave these?
Generally, the lower receiver. You’ll engrave the serialized part of the weapon. Please consult with the ATF directly for further guidance.
Should I keep a copy of my Trust with my NFA weapons?
It’s a very smart move to keep a copy of the Trust paperwork (not the original) and the tax stamp/Form 4 (not the original) with each of your NFA weapons. For additional security, you can keep a copy in your phone (a photo or email).
I have another Trust – will this affect that one at all?
This NFA Trust will not affect your other Trust in any way, and your other Trust will not impact this one.
Our customer’s satisfaction is our top priority. If there are any errors that we make in spelling of customer names, location, or dates and the customer requests an update, we will honor the update within 7 days of purchase. After that, any mistake will incur a $10 change fee. If a full return is requested, please contact us at email@example.com. We reserve the right to deny refund requests, however, we will always make a good faith effort to understand and remedy any errors that the customer brings up.
I have more questions about the NFA. Help?
While we do our best to provide up to date, accurate information, the best resource for all things related to the NFA would be to email them at firstname.lastname@example.org. They are more than willing to answer questions if we cannot answer them.
Is forming an NFA Trust complicated?
Historically, lawyers created all Trust documents. We simplify the entire process so that you are able to do it online, from the comfort of your home.
What do I do once I have my Gun Trust?
Once your Trust documents are signed and notarized, you will submit a copy of the paperwork with the ATF Form 4 or 1 and Form 23 to the ATF at the time of your NFA item purchase. You’ll also need fingerprints and photos of each Trustee and Co-Trustee. For additional help, contact a local Class 3 firearms dealer.
Can this Trust be used to hold multiple items?
Yes! It can be used to purchase and hold as many items as you’d like.
Can minors be beneficiaries?
Definitely. A minor cannot be a Co-Trustee, however they can be a beneficiary. They just cannot hold the item until they turn 18 and can legally possess the items bequeathed to them.
Can I add other authorized users to my Trust?
Yes! This is known as a “Co-Trustee.” These users must also sign and notarize as responsible parties on the Trust. Other Trusts do not always have this feature, which is why an NFA specific trust is so great!
Please keep in mind that while there is no limit to the amount of Co-Trustees that can be added to the Trust, they must sign and notarize the Trust initially and if they are Trustees at the time of a Form 1 or 4 submission, they much have fingerprint cards and photographs submitted as part of the ATF process.
Only Co-Trustees can possess items in the trust if the Primary Trustee is not present.
Do I need to renew my NFA Trust annually?
Not at all. You set your Trust up one time, and have it forever.
When do I add items to the assignment sheet of my Trust?
As soon as you physically possess the serialized property.
Do I need to register the Trust in my State of Residence?
Generally, you don’t. However, there are ten (10) states with provisions for registering Trusts: Alaska, Hawaii, Michigan, Nebraska, Colorado, Idaho, Missouri, North Dakota, Florida, and Maine. If you live in one of these states, contact your local Circuit Court to register. The process is generally straightforward and simple.
For more information, visit this webpage: https://en.wikipedia.org/wiki/United_States_trust_law
Can I change my Trust in the future?
Of course. If you need to update the Trust, we include amendment templates in our package. If you have further questions on this process, contact us at email@example.com.
Where should I get my Trust notarized?
Any U.S. notary can notarize your Trust. Typically, it’s easiest at FedEx Kinkos or UPS stores. Banks will also work, but it varies bank by bank. You can have the Trust notarized in any U.S. State, as long as you use a U.S. notary.
Do Co-Trustees need to also sign the Trust?
The Co-Trustees need to sign and notarize the acceptance pages specific to them. They will also need to obtain fingerprints and passport photographs if they are a Trustee on the Trust at the time of a Form 1 or Form 4 submission.
What can a Co-Trustee do, exactly?
Co-trustees may only possess the Trust property during your lifetime, and at your discretion. Note that ALL Co-Trustees need to be at least eighteen (18) years of age and be legally able to possess a firearm.