Although a gun trust and Limited Liability Company can both be used as vehicles to obtain NFA items without the need for CLEO signoffs, the NFA gun trust is more versatile and less expensive to maintain. The NFA trust is much like a will but can last several generations with the ultimate disposition of trust assets determined in the trust instrument. A Limited Liability Company can theoretically last forever. LLC ownership is measured by the shares held by its members. The shares are usually transferred upon death of a member by the deceased member’s will unless there are restrictions on transfer. The class three trust does not require annual “maintenance”, a limited liability company does. A Texas LLC must file annual public information reports and franchise tax reports. K-1’s must be prepared and distributed to the members (owners). The recurring expense of having these forms done on an annual basis by an accountant adds up. A gun trust has no such requirements and is therefore less expensive to maintain.

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