Take Aim and Include Your Firearm Collection in Your Estate Planning

For those who have valuable weapons or collect firearms, how the guns should be handled after the owner's death can be a concern. If heirs are not experienced, they may fall afoul of state and federal laws concerning safe storage and legal transfer of weapons. Or they might be taken advantage of when it comes time to sell. 

The answer, according to experts quoted in the most recent ABA Journal, in an article titled"Got valuable firearms? A gun trust can be a helpful estate-planning tool," may be what is called "a gun trust."

The thinking behind this strategy? By putting gun ownership in trust and naming a knowledgeable person to look after your firearms, the chance of trouble and issues coming into play upon your incapacity or death is minimal.

In addition, the paperwork requirements for transferring guns allows a smooth transition postmortem.

Remember that probate is a public process, so the trust prevents information about a valuable collection to be easily uncovered by thieves.

The original article says an estate planning attorney experienced with the special nuances of gun trusts can help you keep things legal and provide guidance to your heirs and beneficiaries.

People may not think to list a gun collection as a part of their assets during the estate planning process. Consequently, that's why an attorney with experience in estate planning can make sure everything is covered.

Reference: ABA Journal (November 10, 2014) "Got valuable firearms? A gun trust can be a helpful estate-planning tool"

For more information about estate planning for Gwinnett and Johns Creek Readers, visit www.letstalkestateplanning.com

Suggested Key Words: Estate Planning, Wills, Trusts and Estates, Asset Protection, Probate Court, Inheritance, Estate Planning Lawyer, Probate Attorney

No Comments

Leave a comment
Comment Information

Upcoming Workshops

3 Easy Steps To Protect Your "Stuff" This workshop addresses frequently asked questions and common misconceptions on Wills & Trusts, Asset Protection, Nursing Home Issues, and Medicaid Qualification.

Join Now! More Workshops

Call Us Today To Schedule A Consultation

We are ready to help you start planning. To schedule an initial consultation, call us at 770-822-2723 or 866-735-9628. You may also contact us online.

ESTATE PLANNING LAW GROUP OF GEORGIA,

Johns Creek Office
11555 Medlock Bridge Road, Suite 100
Johns Creek, GA 30097

Toll Free: 866-735-9628
Phone: 770-822-2723
Fax: 770-573-3379
Map & Directions

Lawrenceville Office
1755 North Brown Road, Suite 200
Lawrenceville, GA 30043

Toll Free: 866-735-9628
Phone: 770-822-2723
Fax: 770-573-3379
Map & Directions

map

How can we help you?

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close