Several laws are currently being considered impacting gun owners. We suggest to our clients to consider making all future firearm purchases (Title I or Title II) in the name of their trust through a trust banking account and a properly executed for 4473 identifying the trust/trustee. On the Federal level, the House has passed H.R. […]
Starting on July 1, 2013, selling, transferring or possessing a Large Capacity Magazine in Colorado is a class 2 misdemeanor in Colorado.
After heated debate, Colorado enacted two laws affecting all gun owners and any person in the presence of a firearm. The first law requires a background check anytime there is a transfer of possession of a firearm. The second law prohibits the sale, transfer or possession of ammunition magazines with a capacity of more than 15 rounds.
Frequently asked questions about Colorado NFA Trusts.
More Frequently Asked Questions about Colorado NFA Trusts. Part II this time.
So, you have never heard of an NFA Trust? A little history lesson may help you understand why NFA trusts exist and who creates NFA Trusts to hold Title II firearms.
We are often asked whether a Colorado NFA Trust can be used in another state. Or, if the trust creator (Settlor) moves over the course of their life, can they keep the same trust or would they have to establish new a new NFA Trust in the new state and pay the $200 transfer fee per item? The short answer is yes, the person can usually keep their trust.
Another common question is how easy is it to change trustees of a Colorado NFA Trust.
We are often asked whether multiple people can legally possess a Title II weapon when held in a Colorado NFA Trust. The short answer is yes, by making those people trustees of the trust.