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Basically, there are two ways that an individual or a legal entity, such as a trust, corporation, limited liability company, or partnership, may legally acquire NFA firearms, if the individual or entity is not prohibited by federal, state, or local law from receiving or possessing firearms:

The trust property assigned to the trust passes to the beneficiaries of the trust without being subjected to the probate process. Until the trust property is distributed to the beneficiaries, the trustees of the gun trust continue to hold and possess the trust property in trust for the beneficiaries.

A settlor is the person who creates the trust, and is usually the person who provides the funding for the trust and assigns personal property, such as firearms and cash, to the trust.

In a gun trust, a trustee is a person who is allowed to use and possess the firearms assigned and acquired by the gun trust. The settlor of the gun trust is almost always, at a minimum, the trustee of the gun trust, so that he or she can continue to use and possess his or her firearms assigned to and acquired by the gun trust. However, if the settlor wants to be able to lend his or her NFA firearms to another responsible adult, such as a spouse, son, or daughter, so that the adult can take the NFA firearms to the range or the ranch (without the settlor), then that adult also needs to be a trustee.

Our gun trust is designed so that the settlor or settlors are the only initial trustee or trustees of the gun trust. This means that our gun trust clients are the only persons who need to sign the gun trust in front of a notary.