NFA Trust
An NFA trust is an estate planning tool which can be used to acquire NFA (Class 3) weapons, suppressors and destructive devices. It usually provides for disposition of property much like a will but over several generations. Trustee(s) administer the trust's assets for the benefit of the beneficiaries. When the Trustor (creator of the Trust) dies the trust usually continues with a successor Trustee administering the trust for the remaining beneficiaries. Such trusts are often used when the Chief Law Enforcement Officer (CLEO) of an NFA buyer's home city refuses to sign a Form 4 authorizing the transfer of an NFA weapon. CLEO signoffs have become an ever increasing problem in today's security conscious world. An NFA trust or corporation is a separate legal entity. It is the actual purchaser of the NFA item and not an individual. Since an individual in not the purchaser (transferee) on the Form 4 (NFA transfer document) no CLEO approval is required.