Federal gun trust changes are still pending. Gun trusts remain legal and will still be highly effective tools for responsible gun owners to share, transfer, and bequeath gun collections, as well as suppressors and other NFA items. Gun owners who wait to form a gun trust until after changes are approved will need to provide time-intensive supporting documentation.
Until new regulations are approved, gun owners can establish a gun trust now to help avoid unnecessary administration and bypass what will likely be lengthy delays under the new regulations.
The looming legislation does not take away from the power and value of a gun trust created with the GunDocx™ system. (Learn about the gun trust benefits still preserved if and when the federal changes pass.) If you have been waiting for the right time or just started searching for information about gun trusts, act now before new laws change the landscape for gun transfers.
How many individuals will you have named in your gun trust? Part of the proposed regulations may require photographs, fingerprints, and Chief Law Enforcement Officer sign-off for all “responsible persons” named in the trust. These extra steps are usually bypassed by individuals using gun trusts to store and transfer their firearms. The new changes will make them mandatory.
It remains to be seen, but all current discussions by lawmakers indicate that responsible gun owners who have already established a gun trust before the new regulations go into effect will be grandfathered in and unaffected by the new requirements, saving both time and administrative costs for trust holders. Individuals who have not already established a gun trust are running out of time and should compare gun trust options with a lawyer soon.