Gun Trust...Would like info.Please!

coltle6920

coltle6920

Member
Joined
Oct 28, 2013
Messages
4,476
Reaction score
8,898
Location
Denver,Colorado
I am single with no children.I have several siblings but only one who is into firearms.The rest wouldn't have a clue what they had and would be a danger to themselves or Society.

What exactly does a Gun Trust do for someone? With all the talk about gun confiscation would a trust protect my collection,if I become mentally disabled,by allowing it to go to someone of my choosing rather than being destroyed?

I would appreciate your thoughts and any info where I could do more research on this.
 
Register to hide this ad
Partner, I'd call the NRA & ask for the name of an attorney in your state... that is very well versed in firearms laws, both on the federal & state levels... The reason I said state... is that at least in my area... there are many fine attorneys specializing in trust issues , real estate issues... but firearms trusts are not something that are spoken of much around here...............I suspect that I'd have to go to either the Kansas City, Mo. or St. Louis, Mo. areas to find someone who is knowledgeable in them.
 
The "Gun Trusts" I have seen are designed for NFA stuff. It does a couple things. It allows anyone in the Trust to be in possession. Otherwise, you can't just lend your son or brother your machine gun to go out and fun with cuz he ain't on the Tax Stamp. When you kick the bucket, whoever is in the Trust doesn't have to go through the Tax Stamp process and pay another $200 each.
 
ChattanoogaPhil said:
The "Gun Trusts" I have seen are designed for NFA stuff. It does a couple things. It allows anyone in the Trust to be in possession. Otherwise, you can't just lend your son or brother your machine gun to go out and fun with cuz he ain't on the Tax Stamp. When you kick the bucket, whoever is in the Trust doesn't have to go through the Tax Stamp process and pay another $200 each.
Click to expand...

So is a "Gun Trust" mainly for people that have gone through the process of getting suppressors or full auto weapons? I don't have either nor any intention of doing so.I'm looking for the best way to protect my collection in the event of my death or that disability where the govt would try to take them away.Any articles online where I can read up on the subject?
 
coltle6920 said:
So is a "Gun Trust" mainly for people that have gone through the process of getting suppressors or full auto weapons? I don't have either nor any intention of doing so.I'm looking for the best way to protect my collection in the event of my death or that disability where the govt would try to take them away.Any articles online where I can read up on the subject?
Click to expand...

Yes.

But you can put your guns in a trust along with your other assets or make a separate trust just for guns if you'd like. You can have a successor trustee to handle all your guns and make sure that the beneficiaries are not prohibited persons upon your death as well as deal with applicable state laws.

There is endless reading material. If you're starting from scratch on how to deal with your estate you might consider seeking counsel from an estate planner.
 
So called "Gun Trusts" were originated primarily for those who wanted to own NFA firearms (full auto, short barrel rifle, etc) but were unable to secure the required signature of a required law enforcement official, judge, etc attesting they had no criminal record; and consequently were unable to own an NFA firearm in their own name. I have a gun trust which owns an NFA firearm but I would never have established the trust if I could have gotten the required signature and got the firearm in my own name.

You can handle final disposition of non-NFA firearms through your will.

The "Gun Trust" is simply a revocable living trust to which ownership of the firearm in question is transferred.
 
Last edited:
My buddy has one but mainly to make things easier for his son when he dies as he has some suppressed guns. He hasn't said anything about any other advantages to one either. I'm in same boat as being single now and nobody to leave my guns to now. I'll also be watching this thread with interest to see if it'd be any advantage to me also.
 
Just talk to an attorney about it. All the recent talk of NFA trusts has got people thinking in a very narrow view. I think trusts have advantages but you need to look them up or ask a attorney. One thing for sure, you don't want to die without something or it can turn real ugly. To determine if you want to go further look at this, I think a trust looks like what you are looking for.
The Advantages of a Living Trust Over a Last Will & Testament | LegalZoom: Legal Info
 
I recently set up my living trust. According to my attorney I did not have to do anything special with my small assortment of revolvers, except, if I chose to was name the person to receive them when I passed.

Sadly, I don't think that most of us have enough money tied up in our collections that setting up any special treatment upon our passing is necessary.
 
Yessireebob. Get our legal advice over the net from legal zoom........
In my experience living trusts for the vast majority of people are a GREAT IDEA for the lawyer as he/she can charge wayyyyyyy more than possible for just preparing a simple will. They complicate things and provide for an endless stream of legal fees advising and assisting the transfer in and out over the course of the client's life. In law it is important to note that for everything one does, there is ALWAYS collateral ramifications lurking out there that can really screw things up if you are not aware of them.
Talk to a lawyer in your state that does this kind of stuff-tell him what you want to happen-answer his questions and let him/her explain what can ot can't be done. I had to explain to some heirs who's parents who spent over a thousand dollars on the internet setting up a living trust for all their assets to avoid probate that it would be simpler to just forget it existed and do a affadavit of death and heirship to transfer title to the house trailer to the heirs ($150) so they could sell it as opposed to doing it through the trust :rolleyes:
 
ours estate planning is/was real simple... spouse gets it all when either dies........... We both have durable power of attorney's on each other, with no restrictions.... either one of us can sell 100% of everything we own & that is okay with both of us.........we trust each other that much... I have bought all 4 of our houses without her being there when I dickered on the prices... & she only knew about 2 of them before I bought them... the other 2 she didn't.


we both trust each other to give certain family antiques to certain kids... I have 1 child with my lady of 36 plus years & 3 others with 2 different ladies .... I told all of my kids/grandkids to get along with "She who must be obeyed"... and to understand that what she will do is my wishes being carried out. We both feel sorry for folks who don't have that level of trust with their spouses/mates...............
 
old bear said:
Sadly, I don't think that most of us have enough money tied up in our collections that setting up any special treatment upon our passing is necessary.
Click to expand...

If you have anything of value, setting up a trust avoids the state probate courts. If your estate goes into a state probate court, figure on the lawyers taking 35-50% of the estate! Trusts by-pass the probate courts and distribute your estate as you have set up without the lawyers taking their cut.
 
BigBoy99 said:
If you have anything of value, setting up a trust avoids the state probate courts. If your estate goes into a state probate court, figure on the lawyers taking 35-50% of the estate! Trusts by-pass the probate courts and distribute your estate as you have set up without the lawyers taking their cut.
Click to expand...

That my friend is absolute nonsense. I never heard of a lawyer charging 35-50% of an estate to do a simple probate. Trust may be for some a legitimate solution-but to do one simply to "avoid probate" is nonsense. Just what is this probate of which you speak? Please describe what you mean by this word-maybe you are talkng about something entirely different than I am thinking. Down here a simple succession proceeding involves filing the will, sworn descriptive lists affadavits of death and heirship and a judgment of possession. Then IT'S DONE If the succession requires administration the cost will in most cases be minimal=probably in line with what it costs in setting up a trust to avoid the administration. And remember this even if you have a trust, you are still going to have post mortem expenses.
BUt is your situation benefits from setting up a trust than go for it-but don't insult me and all other lawyers by claiming 35-50% for an estate without some kind of outlier situation presenting itself-that's absurd.
Oh and as far as lawyers taking a cut-for a simple estate my fee ( as most other lawyers)is a flat fee that rarely extends into four figures
 
Last edited:
If you are putting together a short barrel rifle yourself, then your name, city and state or the trust name, city and state has to be engraved. Either way it has to be engraved, trust or no trust. If you purchase a SBR from the manufacturer no additional engraving is required.

The only time you would need to engrave a can is if you built it yourself. Same thing, your name or trust name has to be engraved either way. Otherwise, if you buy a can from a manufacturer no additional engraving is required, trust or no trust.
 
Last edited:
hoc9sw said:
The NFA / Gun trust is intended only for NFA items.
Click to expand...

Actually it is a simple revocable trust to which you can transfer ownership of just about anything. But the original purpose was for circumventing the requirement for a local law enforcement signature on the ATF application form for a tax stamp. A trust cannot have a criminal history and cannot be fingerprinted.

The trust has to be submitted to the ATF for their approval before they will issue the tax stamp.
 
usm1rifle said:
i understand one of the downsides of an NFA Trust is that each NFA item must be permanently engraved with the name of the Trust.
Click to expand...

This is only required if you "manufacture" the gun.

I have a Colt 6933 that was purchased fully assembled from a dealer and my trust name is not engraved anywhere on the rifle.
 
da gimp said:
ours estate planning is/was real simple... spouse gets it all when either dies
Click to expand...

Its not unknown for both spouses to die simultaneously in an auto accident or plane crash. You should cover that contingency too.
 
You must log in or register to reply here.

Latest posts

Back
Top