Many people have made the mistake of using a generic do-it-yourself trust to own NFA firearms. Lots of forums have generic trusts circulating around that people have used to buy NFA firearms. However, most of these trusts do not have NFA-specific language that will protect you and your loved ones.
What can you do if you’ve already used a generic trust to buy NFA firearms?
Don’t worry! There’s still a way for you to transform your generic trust into an NFA-specific trust.
It’s called a “restatement” of your trust, and it’s easy to do. A “restatement” is a standard way of changing the language of a trust. It allows you to change almost anything about your generic trust: the language, the trustees and beneficiaries. The only thing that cannot be changed with a restatement is the name of your trust. You must still use the same name as your original trust.
By buying and using the “Restatement” version of the Wildcat Trust package, you can transform your generic trust into an NFA-specific trust that has all of the same language and protections of the Wildcat Trust package.