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What is The Purpose of an NFA Trust?

A National Firearms Act trust is similar to a regular trust in that its ultimate use is to transfer the trust property upon the Settlor’s death or within a specified time period thereafter. The NFA trust is unique in that the trust assets are, among other things, NFA firearms. Part of the initial funding of the trust may be, upon approval by AFTE approval, NFA firearms.

These firearms are machine guns lawfully registered before the May, 1986 ban under the Firearms Owners Protection Act. The other NFA property is generally comprised of short-barrel rifles, shotguns and suppressors, which may be integral or separate.

The settlor (who creates the trust), who becomes a trustee of the trust, may appoint other co-trustees. The NFA trust is revocable by the Settlor in his lifetime. Nevertheless, the co-trustees may also possess and use the NFA firearms so long as they are not prohibited from possession by state or federal law. This is even in the event the Settlor becomes incapictated.

Upon the settlor’s death, the successor trustee or the person designated in the trust, transfers the NFA firearms to the beneficiaries. Ultimately, therefore, the main benefits of an NFA trust are the use of the NFA weapons by co-trustees, use of the NFA firearms by co-trustees, even after the incapacity of the Settlor, and guidance for proper transfer of the NFA firearms upon the Settlor’s death.

This blog post is written by Bryan L. Ciyou, an attorney at Ciyou & Dixon, P.C. Ciyou & Dixon, P.C. attorneys practice throughout Indiana.

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Ciyou & Dixon, P.C., is a law firm located in Indianapolis, Indiana. We serve clients in six core practice areas: family lawappellate practicefirearms lawgeneral practicepersonal injury and criminal law.

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Based in Indianapolis and founded in 1995, Ciyou & Dixon, P.C. is a niche law firm focused on successfully dealing with the complexities of divorce, high-conflict child custody and family law. Known for their ability to solve extremely complex situations with high quality work and responsiveness, Ciyou & Dixon will guide you every step of the way. The family law attorneys at Ciyou & Dixon, P.C. will help you precisely identify your objectives and the means to reach your desired result. In addition, this practice focus is augmented by the firm's other three core areas, namely appellate advocacy, civil practice, and firearms law. Life is uncertain. Be certain of your counselSM.

Indianapolis Divorce Attorneys, Ciyou & Dixon, P.C. of Indianapolis, Indiana, offers legal services for Indianapolis, Zionsville, Noblesville, Carmel, Avon, Anderson, Danville, Greenwood, Brownsburg, Geist, Fortville, McCordsville, Muncie, Greenfield, Westfield, Fort Wayne, Fishers, Bloomington, Lafayette, Marion County, Hamilton County, Hendricks County, Allen County, Delaware County, Morgan County, Hendricks County, Boone County, Vigo County, Johnson County, Hancock County, and Tippecanoe County, Indiana.