The “gun trust” system, used in the US for those wishing to purchase NFA-regulated items such as suppressors and short-barreled rifles (SBRs), provides significant advantages in both usage and inheritance processes.
A gun trust is defined as a legal document prepared by lawyers that transfers the ownership of NFA-covered firearms or equipment to a legal entity rather than an individual. Thanks to this structure, multiple people can be listed as “responsible persons” for the same firearm or equipment.
According to experts, everyone included in the trust can legally possess that firearm alone. This situation facilitates sharing, particularly among family members or close friends. In individual ownership, the original owner must be physically present for the equipment to be used by someone else.
Great convenience in the inheritance process
Another important advantage of a gun trust is that the transfer of inheritance can be carried out more smoothly following the owner’s death. In individual ownership, a Form 5 application must be made via the ATF to transfer the equipment to the new person. Although this transaction is tax-exempt, it can take between 30–60 days.
Within a trust, the process works much faster. Individuals named as “beneficiaries” in the trust can become legal responsible persons with a minor change made through a lawyer.
No ATF approval required
Direct approval from the ATF is not required to create a gun trust. However, experts point out that this document must be prepared by lawyers experienced in this subject. Online law firms are also frequently preferred in this area.
Unlimited people can be added
There is no limit regarding how many people can be added to a gun trust. However, since everyone included in the trust is required to prepare notarized documents, family members or a few close associates are generally preferred.
Trust name is left to the user’s choice
Users can give the trust any name they wish. While some people use their surname, others may prefer more personal or entertaining names. Considering the document will be used for many years, selecting an appropriate name is suggested.
Experts state that using a gun trust is advantageous, noting that the creation cost is low and the process is short. The trust system is considered more practical than individual ownership in terms of sharing, inheritance, responsibility management, and legal flexibility.