What Is a Living Gun Trust?

A living gun trust, also referred to as a National Firearms Act (NFA) trust, Title II trust or Class 3 trust, focuses on issues involved in the purchase and ownership of certain types of firearms, such as machine guns, short-barrel rifles and shotguns. The types of weaponry available for purchase under the trust vary by state.

Function

A living gun trust allows people seeking to own firearms classified as Class 3 firearms under the NFA to obtain, possess and transfer these weapons as well as silencers. Creating a gun trust allows the trust, as opposed to the individual, to purchase and register the firearm, according to the Florida Gun Trust Lawyer website.

Effects

A trust is a legally established entity that is governed by state law and each state has its own set of rules regarding living gun trusts. Creating a trust allows gun owners to forgo fingerprinting and local police approval before purchasing a Class 3 firearm; instead the application for purchase is investigated and verified at the federal level.

Warning

Each state has restrictions on which firearms are eligible for purchase under a trust. In addition, setting up a living gun trust is often a complex procedure that should be completed with a lawyer familiar with gun trusts. Individuals involved with a trust who do not adhere to the NFA may face up to $25,000 in fines, 10 years in jail and required weapon forfeiture, according to the Florida Gun Trust Lawyer website.

References

• Florida Gun Trust Lawyer: Gun Trust-NFA Firearms
• NFA Gun Trust Lawyer Blog: How to Set Up a Revocable Living Trust to Purchase National Firearm Act or Class 3 Weapons