Colorado NFA Firearms Trust
Do you need a Colorado Gun Trust of a Colorado Gun Trust Lawyer? There are certain restrictions and regulations that apply to the purchase and ownership of Title II Firearms, which are firearms regulated by the federal government pursuant to the National Firearms Act (“NFA)”). When individuals purchase a Title II Firearm, the Chief Law Enforcement Officer (CLEO) where the individual resides is required to sign the ATF Form 4 or ATF Form 1 submitted to the Bureau of Alcohol Tobacco and Firearms (“BATF” or “ATF”). Unfortunately, many CLEO’s have been reluctant to sign the ATF Form 4 or ATF Form 1.
A Colorado NFA Gun Trust is the preferred way for many gun enthusiasts to hold their Title II firearms. The Colorado NFA Gun Trust purchases and holds title to the Title II. The Trust is not required to submit fingerprints nor seek the approval of theCLEO. Instead, the BATF verifies and investigates the application.
Colorado revocable trusts are private. As a result of the private status of a Colorado revocable trust, the only people who know the terms of the trust are those you choose to tell or provide a copy of the trust documents. However, most standard estate planning trusts are not designed to deal with issues involving regulated firearms. It is important to use a Colorado trust designed specifically to hold Title II and Title I firearms.
A Colorado NFA Gun Trust should also give the Trustee special powers and instructions on how to deal with unexpected events. Title II firearms cannot be distributed like other assets upon the incapacity or death of the trust Settlor. The Trustee must look at the asset, determine the capacity of the beneficiary and what federal, state and local laws apply, before distributing the assets. Without the guidance contained in a properly drafted Colorado NFA Gun Trust, a trustee may not realize their special duty.
We can assist you with a Colorado NFA Gun Trust. Please call us at 303-273-2923 or contact us for more information.
