Discussions have started about whether or not gun trusts will still have value if the proposed NFA form changes take place. The Office of Information and Regulatory Affairs, the federal arm created by Congress that oversees the development of policies, may soon make changes to the NFA transfer process. (This affects Class III items.) If the proposed changes take place, a Chief Law Enforcement Officer (CLEO) signature will not be required, and members of the trust will be required to submit fingerprints and photographs.
Many people form gun trusts to enjoy the benefit of not having to apply through their local CLEO for an official signature. However, this is not the only benefit of having a gun trust. Even if the proposed NFA form changes are approved and enforced, gun trusts still have the following advantages:
- Proper transfers of firearms upon death
- Probate avoidance
- Provide privacy
- Facilitate the lawful sharing of weapons
- Expand education on gun law and use
- Possible avoidance of forfeiture of “assault” weapons upon death