For Florida residents, I can draft a trust for purposes of holding and maintaining firearms and related property, commonly known as a Florida Gun Trust or Florida NFA Trust. There may be several benefits to holding firearms in a Florida Gun Trust, especially if the items are regulated by the National Firearms Act (suppressors, machine guns, short-barreled rifles, etc.) Florida Gun Trusts and other entities are not subject to fingerprinting or law enforcement approval when registering NFA items. A Florida Gun Trust can also name multiple trustees who may possess the item.
Floridians should be aware that in Florida there are no statutory definitions of a 'Florida Gun Trust' or 'Florida NFA Trust.' 'Florida Gun Trust' and 'Florida NFA Trust' are essentially non-technical marketing terms referring to any trust that holds guns, and there are no official or legal standards differentiating such trusts from any other legally valid Florida trusts. For example, if you already have a revocable trust, it is possible that the best thing for you might be to simply have your existing trust hold the NFA items and serve as your Florida Gun Trust (but you should first consult with a lawyer).
The many nuances of legal and responsible firearms ownership, especially in the case of NFA items, indicate a Florida Gun Trust designed with such challenges in mind. Some examples: What should the trustee of your Florida Gun Trust do after you die if the beneficiary you designated to receive the firearm is a convicted felon and ineligible to posess the item? Notwithstanding the serialized nature of the firearms, may the trustee commingle trust firearms with others in his personal safe? Instead of distributing the firarms from the Floria Gun Trust upon your death (and possibly incurring a $200 federal tax), would you rather take advantage of Florida's several hundred year rule against perpetuities and maintain the Florida Gun Trust for multiple generations? Are the Florida Gun Trust's firearms protected from your or your beneficiaries' creditors? As you might have guessed, these are issues that trusts drafted from an office supply store form rarely consider, even if the trust is otherwise legally valid.
Contact my office and we can begin the process of determining the appropriate terms of a Florida Gun Trust suitable for you. You may find it helpful to review some of the articles I have written regarding Gun Trusts.
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