Gun Trust Q & A
Question: Why do I need a Gun Trust?
Answer: to Avoid Accidental Felonies. A properly drafted Gun Trust will: • Permit you to hold LEGAL TITLE to regulated and non-regulated firearms. • Provide LEGAL BENEFITS for those you select. • Allow only LEGAL TRANSFERS of firearms by gift, sale, and "sharing"
Question: Would I remain in control of my guns?
Answer: Yes, as the Trustmaker you will retain control and protect your loved ones by: • Serving as Trustee (the person who is in charge) and Beneficiary (the person who gets to use the guns) • Appointing successor Trustees • Adding/Removing lifetime and after death beneficiaries • Retaining the power to change the trust “consistent with applicable gun laws” • Retain the power to veto benefits • Provide gun-specific guidance to help successor Trustees and Beneficiaries
Question: What kind of Trusts do you Offer?
Answer: We offer three types of Gun Trusts • National Firearms Act (NFA)?only Trust (Bronze Edition) • Complete Gun Trust (Silver Edition) • Multi?state/Dynasty Gun Trust (Gold Edition)
The BRONZE Edition (NFA-only) Designed to help simplify acquisition of NFA-regulated firearms permitted in a given State. This type of Trust relies on other estate planning tools, or laws of guardianship or intestacy. Designed to be better than the “free” gun shop trusts handed out in violation of most state Unauthorized Practice of Law statue
The SILVER Edition (a Complete Plan) Offers the best combination of benefits and planning options for most clients. Names contingent beneficiaries, contains detailed guidance, reference materials, includes attorney consult. Uses tangible personal property memorandums and outright dispositions to dispose of weapons at the death of the Trustmaker. Also has trust decanting provisions.
The GOLD Edition (especially for Collectors, Multi-State owners, or those who want Dynasty Planning to permit their guns to be used for heirs for generations to come). Designed for those with larger collections and complex goals such as multistate firearms ownership, separate planning for individual beneficiaries, and dynasty collecting and usage by families.