Category Archives: NFA Trusts

The Senate Courts of Justice Committee has killed Delegate LaRock’s CLEO sign-off bill

This legislative session Delegate LaRock has been a steadfast friend to NFA collectors in Virginia and deserves our thanks and support. He has introduced two bills this session that directly affect NFA applications in the Commonwealth. The first of these, … Continue reading

Posted in CLEO Sign-Off, NFA Trusts, Virginia Law | Comments Off on The Senate Courts of Justice Committee has killed Delegate LaRock’s CLEO sign-off bill

The VSP has clarified the machine gun registration issue

Last week I wrote about a recent Attorney General’s opinion which stated that machine guns could not be registered to trusts in Virginia. At the end of that article, I noted that I was waiting for a callback from both the Virginia … Continue reading

Posted in AG Opinions, ATF, Form 4, Form 5, Machine Guns, NFA Trusts, Virginia Law | Comments Off on The VSP has clarified the machine gun registration issue

May I abbreviate my trust name when I engrave an SBR?

Recently a client called me to ask if he could abbreviate his trust name when he engraved an SBR. As one might expect in the Google age, prior to calling me he had searched on the internet and, based upon … Continue reading

Posted in ATF, BATFE, Engraving, Form 1, Manufacturing, NFA Trusts, SBR, Short Barreled Rifles, Short Barreled Shotguns | Comments Off on May I abbreviate my trust name when I engrave an SBR?

Currently machine guns cannot be registered to trusts in Virginia

** There is an update to this article ** In December of last year, I received several calls from NFA dealers who had been told by ATF employees that there was a change upcoming regarding the use of trusts to … Continue reading

Posted in AG Opinions, Estate Planning, Form 4, Form 5, Machine Guns, NFA Trusts, Virginia Law | Comments Off on Currently machine guns cannot be registered to trusts in Virginia

Will my beneficiaries have to pay a transfer tax when my NFA trust distributes my assets?

The short answer is “No. At least not currently.”  But that qualifier is an important part of the answer. Currently the ATF allows transfers of NFA items to devisees, heirs, or specified beneficiaries to be tax-free via a Form 5. The … Continue reading

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