Do You Own Any of These Weapons?
If you currently possess or are looking to acquire any Title II weapons (Class III), also known as NFA (National Firearms Act) controlled firearms, it is a good idea to educate yourself on your purchases to legally protect both yourself and your family from any unintended, felonious violations of the law.
Know The Law
Individuals with Title II licenses may not loan, gift, or otherwise permit any person other than themselves to possess or use a Title II firearm which they are licensed to own. Such permission and use constitutes a federal felony. Failure to comply with laws regulating Title II firearms can result in conviction and a fine of up to $250,000 and 10 years in prison, confiscation of all firearms, and loss of the right to own firearms in the future.
The six (6) distinct types of NFA controlled firearms are the following:
- Machineguns – any firearm which fires more than one (1) round for each individual pull of the trigger.
- Short Barreled Rifles (SBR) – Rifles with barrels less than 16″.
- Short Barreled Shotguns (SBS) – Shotguns with barrels less than 18”.
- Silencers (Suppressors)
- Any Other Weapon (AOW) – These are usually firearms and accessories that don’t fall into a category above. Examples include wallet holsters and pen guns.
- Destructive Devices (DDs)
If you own any of these weapons, you need a Gun Trust.
What is a Gun Trust?
Understanding Gun Trusts requires a working knowledge of Trusts in general and how they operate. A Trust is an arrangement under which one individual referred to as a “Trustmaker,” transfers property to another individual or entity referred to as a “Trustee,” who in turn holds legal title to property for another individual called a “Beneficiary.” Arkansas law allows Trustmakers to be the Trustee of their own Trust, keeping full control over all property held in the Trust. A Gun Trust is a type of Trust that is set up to hold legal title over firearms and assist with their distribution upon the death of the Trustmaker. As Arkansas gun trust lawyers, we can show you the planning options that provide you with the maximum protection.
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