I have made the decision to set up a NFA Trust and buy a suppressor or two in advance of the ATF 41F implementation date of July 13th. I’m going the trust route for a couple of reasons. First, it will make estate planning easier as the suppressor will be passed on to the trust beneficiary without the need to pay another $200 tax. Second, other members of the trust will be allowed to use the suppressor without my being with them. It circumvents the potential constructive possession problem for the Complementary Spouse as she does know my safe combination. The issue of fingerprints and photos is irrelevant for my purposes but it is nice to be able to avoid it – for now.
There are a number of prototype NFA trust documents being offered on the Internet. You can get them from suppressor dealers like the Silencer Shop, manufacturers like Silencerco, and a number of attorney–related websites. The cost of these prototype documents are in the $99-199 range. This is a significant cost savings over the estimated $350-500 that an attorney would charge for a “custom” NFA trust. At last year’s Annual Firearms Law Seminar, the BATFE attorney from the NFA section offered some horror stories on NFA trusts that were set up without the hands-on assistance of an attorney.
Yesterday I took advantage of a Gearhog discount offer of a NFA trust for $49. This was a 75% discount off the normal price of $199 from www.199trust.com. This discount offer runs for another two days. My rationale was that I’d not be out of much money if I decided this trust document didn’t meet North Carolina trust law standards.
- Has anyone gone the prototype or prewritten trust route? If so, did you run into any problems?
- If you did go the prototype trust route, did you have it reviewed by a local attorney to make sure it met the trust law of your state?
- Would you suggest having a local estates attorney review the trust?
- What were your reasons for using a trust instead of purchasing the NFA item as an individual?
- If you went the prototype route, did you later have the trust rewritten by a local attorney?