Can my friends and I form a Firearm Trust and put Title II firearms into the trust?
Legally, there is nothing that will prevent someone from forming a trust in this manner. However, each friend must be aware of the potential consequences of sharing a firearm trust. Most importantly, what happens to the trust property if the friendship ends?
Can I or should I put non-Title II firearms in my National Firearms Act firearm trust?
You certainly have the ability to do so, as there is no rule that states a firearm trust can only own Title I or Title II items. There is also no rule that states if you use a Title II item on a non-Title II firearm that the non-Title II firearm has to be owned by the trust. This would come up if you owned a suppressor in a trust but owned your pistol that it is attached to as an individual. Keep in mind that it is safer to keep your Title II firearm ownership separate in case there is any forfeiture of the Title II items in the firearm trust. Then, in that case, your Title I items will be protected. If you want to place your Title I items in a trust for estate planning purposes, it may be more beneficial to create a second trust for only those items.
Related pages
Contact Us Today
Please reach out to us to discuss your questions about setting up your Colorado Firearms Trust. Contact Us