There are main four benefits to creating a Gun Trust: <\/p>\n
1) when an individual submits an application to the Bureau of Alcohol, Tobacco and Firearms (ATF) to register firearm under the National Firearms Act (NFA), only that person would have the right to use or possess the registered NFA firearm. But when a properly drafted Gun Trust applies to the ATF for NFA registration, the GRANTOR PLUS EACH AND EVERY TRUSTEE NAMED IN THE GUN TRUST has the right to use or possess the NFA regulated item upon approval by the ATF.<\/p>\n
2) a single Gun Trust can register multiple NFA regulated firearms and items.<\/p>\n
3) even after the death of the Grantor, a Gun Trust allows for multi-generational use of registered NFA regulated firearms without any new filings to the ATF.<\/p>\n
4) a Gun Trust prevents the need for Probate to transfer firearms upon the death of the Grantor, since the ownership of the firearm is held by the Gun Trust.<\/p>\n