You Do Not Need a Separate Bank Account for Your Gun Trust
Some people have the misconception that a firearm to be held in a gun trust must be purchased with money from a trust account. This is a common myth that is simply not true.
Our gun trust is designed to hold both NFA firearms that require an ATF tax stamp and non-NFA firearms that do not require a tax stamp. When you purchase a non-NFA firearm, such as a shotgun, rifle, or pistol, you pay for it with your own money. Perhaps you may receive a non-NFA firearm as a gift. Whether you receive it as a gift or you pay for it with you own money, you can assign it to your gun trust using the assignment form that we provide with your gun trust. Once you sign the assignment form in front of a notary with the make, model, and serial number of that firearm, it is held in the trust at that moment in time. The money used to purchase the firearm need not come from a “trust” account. It can be purchased any way you want, such as by using cash, a check, or a credit card in your personal name.
Regarding NFA firearms, you can purchase the NFA firearm from the Class 3 dealer or other owner of the firearm with your personal funds (or anyone else’s funds). The ATF Form 4 application, which is required for all NFA firearm transfers, lists the buyer to whom the seller is requesting permission from the BATFE to transfer the NFA firearm. The buyer will be listed as your gun trust. It makes no difference where the money came from to pay for the NFA firearm. You are representing to the BATFE in the ATF Form 4 application that the entity seeking to own the NFA firearm is the gun trust. When the tax stamp (approved Form 4) comes back, it will state that your gun trust is the owner of the NFA firearm. Regardless of where the money came from, that NFA firearm is owned in the name of your trust.
Would you like to have the peace of mind that comes with knowing that you received a high-quality, state-specific NFA gun trust drafted by a very experienced gun trust attorney who is recommended by some of the largest and most successful Class 3 dealers in the United States? Let’s get started!