What is a Gun Trust?

What is a Gun Trust?

In this episode of Fire Away (questions) Dennis talks about what exactly is a gun trust. This is a straightforward description of what a gun trust is, how it’s used, and some key elements that make a Gun Trust completely different from a standard trust.
Basically…a Gun Trust is a legal box to own firearms and certain accessories. It is a “Purpose Built” trust designed to avoid “accidental felonies” by giving you three things…
  1. Holding LEGAL TITLE to regulated and non-regulated firearms
  2. Provides LEGAL BENEFITS for lawful beneficiaries selected by the client
  3. Allows for LEGAL TRANSFERS of firearms by gift, sale, and “sharing” within the law

There are also three parties to a Gun Trust…

  1. The GRANTOR establishes the trust and funds it
  2. The TRUSTEE administers the trust (possession)
  3. The BENEFICIARY receives benefits of the trust

A Gun Trust is designed to MINIMIZE LIABILITY and MAXIMIZE BENEFITS in three main areas…

  1. Provides written guidance
  2. Educates Grantors, Trustees, and Beneficiaries
  3. Provides an Estate Plan for your Firearms and Accessories


 

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Gun Law Community and Fire Away do not provide legal advice. Gun Law Community is not a law firm. Information provided does not create an attorney-client relationship. You must contact an attorney in your state for legal advice.
If you need help finding an attorney in your area, simply go to Find an Attorney on our website and we will introduce you to one we know.
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Thank you again for taking time to watch this episode…and remember, we are a “Community of Gun Owners.” Please share these with your fellow gun owners so we can help each other and all be the neighbor everyone wants.

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