Tennessee NFA Gun Trust Attorney
Tennessee gun laws are evolving and the number of gun permits is rising. With “guns-in-trunks” laws on the horizon, which will make it easier for Tennessee gun owners to carry firearms, the number of gun owners will likely continue to increase. What is the best way to register firearms? How can gun owners allow others to safely and legally use their weapons? Responsible gun ownership is paramount. Gun trusts are an important part of responsible gun ownership.
Individual ownership of NFA items comes with certain drawbacks. The NFA item can only be in the possession of the individual under whose name the weapon is registered. A Tennessee gun trust is formed to suit specific firearms with respect to both state and federal legislation. When firearms are owned in a gun trust, the trust itself owns the property and multiple inpiduals can be designated in the trust to freely and legally use the firearms.
Corporations and LLCs are other alternatives to inpidual gun ownership; however they do not offer the privacy of a gun trust. Gun trusts have:
- No annual tax requirements
- No annual maintenance fees
Forming a corporation to own your NFA firearms is more expensive than establishing a gun trust, comes with the burden of annual fees, and is publicly filed with the Tennessee Secretary of State. Set up an NFA trust to avoid unintentional criminal activity. Six-figure fines and jail terms are consequences of illegal gun ownership.
If you currently live or are considering moving to Tennessee and you own firearms, consider setting up a gun trust. Owning a gun in Tennessee, or transferring your firearms due to relocation, requires advanced planning to ensure all paperwork is prepared in accordance with state and federal rules. Whether you reside near Memphis, Nashville or Knoxville, the Southern Gun Law Group serves gun owners across the entire state of Tennessee. Find an experienced NFA gun trust attorney at Southern Gun Law Group to create or review a custom gun trust.