Keeping Your Collection in the Family

 

The collection and ownership of firearms takes a great deal of time and money. Due to the nature and strict regulation of firearms, this type of collection needs extra protection in order to pass them on throughout the generations. Firearms should never be placed within a standard living trust or will! A Gun Trust is the only tool that allows succession of gun ownership throughout the family, provides guidance for proper handling and transfer of firearms and prevents confiscation due to unlawful possession. A gun trust can be specifically tailored to deal with your particular collection and familial situation. A gun trust will:

 

Ensure that children and grandchildren can enjoy and benefit from your collection.

 

Because the beneficiary of a trust already has a vested interest in the property of the trust, when you pass on, your children will not have to pay transfer taxes on your firearms because they have not legally been transferred from owners.

 

When you pass away, your gun trust will transfer firearms and related accessories to beneficiaries who appreciate the tradition rather than allowing the government to confiscate the collection.

© 2019 by Law Office of Amanda M. Rice

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