Gun Trust Services

As you prepare your estate and set up trusts for your loved ones, it’s essential to consider every asset. If you become incapacitated or die, your will or trust tells everyone else how to handle the items and property you’ve left behind. Whether you have one firearm or an arsenal, establishing a gun trust can ensure your pieces stay in the family or go to someone who will care for them properly. It can also prevent your beneficiaries from having to go through the time-consuming, and sometimes expensive, process of transferring such assets and gaining approval to have them. 

What Is a Gun Trust?

A gun trust refers to any kind of trust created to maintain and pass on firearms, firearm titles, and firearm accessories. Gun trusts can be revocable or irrevocable, and they may also be known as National Firearm Act (NFA) gun trusts. They cover weapons outlined in the National Firearms Act and Gun Control Act of 1968, such as:

  • Fully automatic firearms
  • Short-barrel shotguns and rifles
  • Suppressors, silencers, and mufflers
  • Destructive devices and any other weapon (AOW)

Due to the many laws related to gun ownership, transferring ownership of firearms upon your death or incapacitation is not as simple as doing so for bank accounts and other assets. When done properly, a gun trust offers a legal avenue for passing on firearms that will keep your loved ones from dealing with legal issues.

The Pros and Cons of a Gun Trust

If you believe your firearm falls into one of the restricted classes listed above, consulting with an attorney to establish a gun trust is one of the smartest decisions you can make.

While these benefits make an excellent case for many people looking for ways to legally transfer firearms, the solution may not be ideal for everyone.

Once you decide on setting up a gun trust, you and your beneficiaries can look forward to plenty of paperwork. Your beneficiaries may still need to communicate with the ATF and will likely have to go through the fingerprinting process and a background check, just as they would when purchasing a gun. If anyone involved is not fully committed to the process, you may need to explore other options for how to handle these sensitive assets.

The benefits of doing so include:

 In most cases, transferring a gun requires you to pay a transfer fee to the Bureau of Alcohol, Tobacco, and Firearms (ATF). Your beneficiaries can avoid this expense when you set up a gun trust so they transfer automatically upon your death. Since the trust is separate from the rest of your estate, establishing this trust can help your family avoid going through the probate process, ensuring they receive your assets as soon as possible.

When you establish your trust, you can name multiple people as its beneficiaries. Anyone you list will have the right to possess and use the firearm and its accessories.

Even as laws change and evolve, firearms under a trust can be shielded from certain regulations. Your beneficiaries may be able to avoid certain restrictions based on how you specify their ownership of your firearms.

Setting Up a Gun Trust With Crow Estate Planning & Probate

The attorneys at Crow Estate Planning & Probate have spent nearly two decades serving the Clarksville community and beyond, ensuring clients of any age are prepared for the next stages in their lives. When you come to us for support in these complex situations, we do our best to ease your concerns and educate you on how everything works. Our comprehensive estate planning services will help you establish your gun trust and handle other situations involved with:

Establish Your NFA Gun Trust Today

Any Tennessee or Kentucky resident looking to set up a gun trust and explore other areas of estate planning can take advantage of a free consultation from Crow Estate Planning & Probate. We’ll get to know what’s important to you so we can protect those assets as you would. Contact our team today to safeguard your legacy.

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