Gun Trusts

Gun Owners Beware!

Because of recent events, it is more important than ever to follow the complex and evolving gun laws.

Did you know there could be a penalty to transfer or to be in possession of any type of firearm if you are a prohibited person? Sometimes even loaning, gifting or sharing a particular type of firearm with someone is a crime which could result in criminal prosecution resulting in large fines and/or convictions.

Remember, ignorance of the law is no excuse if you commit an accidental felony. This ignorance of gun law is not dangerous for gun owners. If you own firearms that are regulated by the National Firearms Act (NFA), allowing others access to them is another risk. It doesn’t matter where you are if you share NFA regulated firearms; you can be at risk. But you can prepare for and avoid that risk.

Did you know…

The penalty for unlawful possession or transfer of certain unregulated firearms is a 10 year federal prison term and a $250,000 fine!
Common everyday terms like possession, transfer and access may have completely different legal meanings.
Legal problems related to actual or constructive possession and unlawful transfer can occur just because someone is living in the same house or has access to certain firearms.
A prohibited person who is in possession firearms or if firearms are transferred to that individual, causes exposure to criminal liability.

A gun trust is specifically designed to hold ownership of your firearms. It can hold to the strict federal regulations and other state and local weapons regulations. The gun trusts will protect you during your lifetime and it will be easier to transfer your firearms after your passing.

A gun trust is different from the common, revocable living trust and many times is designed to last more than one generation, have more than one trustee and addresses state, federal and other local laws that restrict ownership and use.

Click the link for detailed information regarding the National Firearms Act.

There are three different Gun Trust plans available; Bronze, Silver and Gold. We will discuss your individual situation and help you determine which plan will best suit your requirements. The following provides a brief description of what each of the three plans provides:

Bronze Plan

Holds only NFA/Title II firearms.
A very basic revocable trust designed for simple purchases of NFA/Title II weapons.
One individual trustee.
Allows you to designate successor trustees and death beneficiaries (bypasses your Will).
Quick, easy, and can be upgraded at any time, should your requirements change.

Silver Plan

Holds both NFA/Title II and non-NFA weapons and ammunition.
Allows you to designate co-trustees, successor trustees, and death beneficiaries.
Provides flexibility to easily comply with the new ATF rules pertaining to Responsible Persons.
Allows people you shoot with to legally use your NFA/Title II firearms even when they’re not in your physical presence.
Provides a standalone estate plan exclusively for your NFA and non-NFA firearms (your firearms bypass your Will or Revocable LivingTrust and avoid probate).
Allows sharing while avoiding the “accidental felony.”
Gun Trust Portfolio and all forms needed for keeping your Trustees and Beneficiaries up-to-date and legal.

Gold Plan

Fully customizable version for clients with larger collections or unique concerns such as multi-generational planning or multi-state possession.
Holds both NFA/Title II and non-NFA weapons and ammunition.
Provides flexibility to easily comply with the new ATF rules pertaining to Responsible Persons.
Allows people you shoot with to legally use your NFA/Title II firearms even when they’re not in your physical presence.
Provides a standalone estate plan exclusively for your NFA and non-NFA firearms (your firearms bypass your Will or Revocable Living Trust and avoid probate).
Gun Trust Portfolio and all forms needed for keeping your Trustees and Beneficiaries up-to-date and legal.