It is illegal for anyone but the registered owner of a class 3 firearm to use or even be in possession of a class 3 weapon. This means that taking a few friends out shooting with your personally owned class 3 weapons is illegal.
If the weapon is in a gun trust, any of the trustees can legally possess and operate any of the items owned by the trust. The GunTrustDepot™ gun trust allows you to add and remove trustees at any time. This means that taking your friends shooting with the trust's firearms is never more than a signature away! This also makes it possible for one of your friends to store your class 3 weapons for you.
Upon the death or incapacitation of the registered owner of a class 3 weapon, the legal heir is required to submit an ATF Form 5 in order to inherit the weapons. Complications can arise if the intended recipient is under age or cannot possess the weapon for some other reason.
Gun trusts can be set up to be multi-generational (Dynasty Trusts). These trusts allow a successor to take over the trust and continue its operation without requiring a transfer of ownership for the weapons.
Gun trusts provide many benefits, but they do have limitations. We want to be honest about the product we provide, so we have provided the following list of things that gun trusts cannot do.