Apr
2

Do I need a North Carolina Gun Trust attorney?

An attorney will ensure your trust is legally valid. One of the greatest dangers of using a flawed trust for NFA gun ownership is the possibility of having a false sense of security. When BATFE approves your transfer application, they're not declaring your trust legally valid.

 

 

Your North Carolina Gun Trust: What You May Not Know and Why Getting it Done Right is Absolutely Crucial!

Saving a Few Bucks Can Cost a Fortune - Do-It-Yourself or DIY gun trusts, copying a trust agreement or discount NFA trusts may put yourself and loved ones in enormous jeopardy. In a worst case scenario, you could be arrested and charged with illegal possession of Title II firearms. Defects in bargain NFA trusts can also be costly- fines up to $250,000 per violation and imprisonment up to 10 years. Last but not least, you become a felon and suffer forfeiture of all your firearms. Why chance it? A highly experienced and specialized North Carolina NFA Trust attorney is imperative.
CLEO Sign Off Not Required – The ATF requirement that individuals obtain the signature of the Chief Law Enforcement Officer (CLEO) of the city in which you live, on Form 4, Machine gun/suppressor transfer documents, does not apply to gun trusts. No CLEO signature is required on ATF Form 4 transfers to a gun trust. Many Police Chiefs and Sheriffs (CLEOs) now refuse to sign. ATF Form 4 transfer forms making acquisition of Title II items difficult. The use of a gun trust to acquire Title II items solves this problem..
No Fingerprint Cards Required – The ATF requirement that an individual supply two sets of fingerprint cards with every Form 4 transfer does not apply to transfers to a gun trust.
No Photographs Required – The ATF requirement that an individual supply two photographs with every Form 4 transfer does not apply to transfers to a gun trust.
Continuity, Breadth and Mutuality of Possession – A properly drafted gun trust can allow various persons to possess and use NFA Title II firearms owned by the trust. Several trustees with authority to possess the trust’s NFA Title II weapons can be designated. ATF regulations for individuals limit the possession of NFA Title II firearms to the registered owner only. Gun trusts can be drafted to allow various persons to use the trust’s NFA firearms over the years without the need to transfer them upon the death or incapacity of a trustee or beneficiary of the trust. Family members or friends can be designated as authorized “users” of trust Title II firearms. Nevertheless, when the trust terminates, its property must be distributed to the beneficiaries and a transfer tax paid on each NFA item.
Confidentiality – When a gun trust purchases a Title II firearm, it must submit a copy of the trust to the ATF with the Form 4. The NFA gun trust is otherwise confidential. It is not filed of record and, other than NFA firearms purchased by the trust which must be registered with the ATF, its assets are confidential and need not be disclosed.
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