benefits of a trust

Discussion in 'GATE NFA/Class III' started by Gaffshot, Mar 25, 2011.

  1. Gaffshot

    Gaffshot

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    What benefits are to having an NFA trust over registration to individual?

    If you have multiple trustees does each trustee have to pass the background check before taking possession of the NFA item? Such as be listed as a responsible party?
     
  2. Zak Smith

    Zak Smith 3Gunner Millennium Member

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    The guntrustlawyer.com blog covers this in detail. The primary benefits are:

    1. you get to bypass CLEO signoff
    2. more than one person can be authorized to possess the item
    3. lineage style transfers of the items are easier since the trust itself changes ownership