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Gun Trust Deadline is July 13th Part II

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shooting rangeWhy create an NFA gun trust? Because it’s an easy way to avoid probate for your Title II or NFA  firearms upon your death, and it provides some peace of mind by enabling your loved ones to legally use them.

In order for you to be able to buy NFA regulated firearms and accessories, if legally allowed in your state, such as a silencer/suppressor (save your hearing) or a short barrel shotgun (good for smaller frame people or home defense) I want you to consider creating an NFA gun trust.

With an NFA gun trust your fellow trustees can use your firearms legally. Let me provide an example of why this is important. What if you’re away on business and your spouse wants to shoot your NFA firearm at the range or in an emergency? If it’s in your name, technically, they would be breaking the law.

Purchasing an NFA firearm isn’t easy. This is how it works for an individual. You will need to submit to the Bureau of Alcohol, Tobacco, Firearms, and Explosives (BATFE) the following: A completed Form 4 through a licensed Type III dealer/agent, fingerprint cards, photo id, $200 check to BATFE, signature from a Chief Law Enforcement Officer (CLEO), and then wait for seven months or so for approval (apparently there’s about 15 agents sifting through 25,000 forms, thank you Obama). Good news for individuals is you will not need CLEO sign-off after July 13th.

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To buy an NFA firearm through a gun trust up until July 13th (don’t wait this long) fingerprints and photos are not required from trustees of an NFA gun trust. They will be after July 13th.

Even after July 13th, I like the idea of an NFA gun trust simply for your family’s peace of mind and to avoid the probate process in the eventual transfer to your heirs of what is rightfully theirs—your 2nd Amendment rights.

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E.J. Smith - Your Survival Guy

E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zildjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West (RIP JB) and Paris. Please get in touch with E.J. at ejsmith@yoursurvivalguy.com To sign up for my free monthly Survive & Thrive letter, click here.
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