What is a Gun Trust?
If you follow us on Facebook, then you know we’ve been talking a lot about the importance of getting a Gun Trust. But, we haven’t been clear on WHAT a Gun Trust is … until now.
A Gun Trust is a trust used to purchase, sell, trade, hold, and transfer ALL types of firearms including Title II weapons. The advantages of purchasing ALL of your firearms in a Gun Trust, as opposed to purchasing them as an individual, are numerous and include the following:
- More than one individual may possess and use Title II firearms, weapons, and suppressors held in the Gun Trust;
- For acquisitions prior to July 13, 2016, no fingerprints are required to obtain Title II firearms;
- For acquisitions prior to July 13, 2016, no signatures or approval of the Chief Law Enforcement Office (“CLEO”) are required to obtain Title II firearms;
- For acquisitions prior to July 13, 2016, no personal photograph is required to obtain Title II firearms;
- For acquisitions prior to July 13, 2016, you will have privacy due to the CLEO’s lack of knowledge of application for ownership of a Title II firearm, weapon, or suppressor;
- Protects your family members from potential unintended legal consequences and any constructive possession issues resulting in “accidental felonies” for ALL types of firearms;
- Ability to transfer ALL firearms, weapons, and suppressors upon death without probate court involvement;
- Offers a way to manage ALL firearms during incapacity;
- Flexibility of amending trust to include additional authorized users and ALL future acquired firearms including NFA firearms, weapons, and suppressors;
- Cheaper maintenance and fees than limited liability companies and other business entities;
- No annual reports or filing requirements;
- Provides the ability to create a family armory so generations of a family may use and enjoy a gun collection;
- and Reduces the risk for future legislative changes to the transfer of and possession of ALL firearms.
If you own firearms, give us a call at 501-221-7776 today to talk about how we can help you set up your Gun Trust.