A Wyoming gun trust or NFA gun trust is a great tool for gun collectors or owners. Unlike most firearms, firearms regulated by the National Firearms Act (NFA) such as sound suppressors (or “silencers”) or short barreled rifles have to be registered to an owner under Federal law. Only the registered owner can lawfully possess the NFA firearm, with exceptions for things like repairs by a licensed gunsmith or others using the firearm while in the presence of the registered owner. However the registered owner of an NFA firearm cannot loan it to another person, even if that other person is a spouse or family. This is where a trust can be helpful. At its core, a trust is a contract with yourself, it is a private document created and funded by a person, which is subject to rules set by that person. A trust can be the registered owner of the firearm, instead of an individual person. Anyone authorized by the trust to be a trustee can lawfully possess the NFA firearm. In this way more than one person can lawfully possess the firearm. Further, the trust provides for the disposition of the firearms owned by it to your heirs when you pass away. So the NFA gun trust has advantages during your life, and also works to carry out your wishes about what happens to your firearms after you die. The trust can also own non-NFA firearms, although the advantages there would be providing for disposition of your firearms after your death, as the rules about registration and possession only apply to the narrow category of firearms regulated by the NFA. WRN can create a gun trust for you, tailored to your needs. As part of the process of transferring an NFA firearm to your trust, ATF will require a copy of the trust, and will review it to ensure it meets their requirements. If the trust does not pass their review ATF will disapprove a transfer of an NFA firearm to the trust. Trusts drafted by WRN have never been rejected by ATF.
- James Jardwell