Gun Trust Comparison
Our gun trust is significantly different from the "do-it-yourself" form sold by Silencerco and Silencer Shop.
Designed Specifically for Firearms
Our gun trust was designed from the ground up by an experienced gun trust attorney to address issues relating to the use, possession, and transfer of firearms.
Their form is a generic living revocable trust form that never includes the words "firearm," "gun," "weapon," "National Firearms Act," "NFA," "Gun Control Act," "GCA," or any other words that would remotely indicate that their form is a gun trust.
Holds Any Type of Firearm
Our gun trust is designed to hold NFA firearms and non-NFA firearms. We even provide you with the form that you can use to assign any non-NFA firearms that you would like to include in your gun trust. This is very useful if you would like to convert one of your pistols or long rifles to a short-barreled rifle.
Their instructions state that their "form" should not be used for non-NFA firearms.
No Schedule or Inventory of Firearms Provided to Outside Third Parties
Our gun trust is specifically designed to protect your privacy relating to your ownership of firearms. When a third party, such as a gun shop employee or the ATF sees our gun trust, the only property that they can determine is included in our gun trust is $1.00.
Their form includes a Schedule A and an Inventory of Trust Assets for listing all firearms in the trust and for disclosing a detailed list of the firearms to all third parties who see a copy of the trust.
Appoint Co-Trustees Anytime Without Amending Your Gun Trust
Our gun trust is designed so that you are the only person who needs to sign the gun trust in front of a notary to establish your gun trust, which means that you can buy your NFA firearm from your Class 3 dealer immediately. After your gun trust is created, you can use another form that we provide to you to appoint additional co-trustees anytime (so that they can use and possess your NFA firearms) without needing to amend your gun trust or paying an attorney to amend your gun trust. Further, you can appoint additional co-trustees either as long-term trustees or as short-term trustees (such as while you and a friend are on a hunting trip).
Their form requires you and all of your other co-trustees to sign the form in front of a notary before your trust is created. After your trust is created, you must amend your trust each time that you want to appoint an additional co-trustee.
Remove Co-Trustees Anytime Without Amending Your Gun Trust
If you appoint an additional co-trustee, you can use another form that we provide to you to remove an additional co-trustee anytime without needing to amend your gun trust or paying an attorney to amend your gun trust.
Their form does not provide a document that you can use to remove a co-trustee.
Intelligent Beneficiary Designation Options
Our gun trust was designed so you can specify anywhere from one to six primary beneficiaries who will be entitled to inherit your firearms when you die. Our gun trust is also designed so you can specify anywhere from one to six secondary beneficiaries who will be entitled to inherit your firearms when you die, if none of the primary beneficiaries are alive when you die. This makes it simple to specify, for example, your spouse as the primary beneficiary and your children as the secondary beneficiaries, or vice versa.
Their form provides for one primary beneficiary and one alternate beneficiary.
Successor Trustee Designation Options
Our gun trust is designed so you can specify anywhere from one to six successor trustees who you would designate to be allowed to step up and become trustees if, for some reason, your gun trust lost all of its trustees, and there was nobody allowed to use and possess your NFA firearms. This makes it simple to provide, for example, your beneficiaries permission in advance to be allowed to take legal possession of your firearms after your death.
Their form does not provide for successor trustee designations.
Specific Guidance about Trustee and Beneficiary Qualifications
Our gun trust provides specific guidance regarding who can and cannot be allowed to use and possess, as well as inherit, your firearms by including a detailed listing of the categories of persons who are not allowed to receive, possess, ship, or transport firearms or ammunition under Federal law, as well as the minimum age to possess NFA firearms in your state. This information is included in our gun trust so that you, your additional co-trustees, and your beneficiaries do not commit felonies inadvertently.
Their form does not provide any specific guidance other than a vague statement that any trustee or beneficiary "who is not legally eligible to possess" any trust asset cannot serve as a trustee or inherit.
Cheaper, Faster Backup Plan
Our gun trust is designed so that, in the event none of your beneficiaries survive the Settlor, your firearms will be distributed to your heirs. This would require the payment of only one transfer tax for each NFA firearm at that time. Further, it does not rely upon the existence or terms of any other legal document.
Their form states that, in the event none of your beneficiaries survive the Settlor, your firearms will be distributed to your estate. This means that the trustees will be required to pay a transfer tax for each NFA firearm at that time to transfer the NFA firearms to your estate. Then a second transfer tax (and its associated waiting period) must be paid for each NFA firearm to transfer the NFA firearms to the beneficiaries of your will (assuming there is one).
Our gun trust sells for $129.95*.
Silencerco's form and Silencer Shop's form are identical to each other. The only difference between their two forms is their source information, such as logos, that are inserted onto the form. Both forms sell for $129.95.