There are a wide variety of different types of assets that a person may want to have passed on to their loved ones when they die. Some assets raise some special concerns when it comes to estate planning. One such asset are gun collections.
Gun collections can be very valuable, both monetarily and emotionally. Thus, it is not the least bit surprising that making sure their gun collection stays in the family when they die is something that some gun owners care a great deal about.
Now, there are a quite a few different laws and regulations, both on the state and federal level, regarding gun ownership and the transfer of gun ownership. If a person's estate plan involves a transfer of a gun collection upon a person's death and it does not take proper steps to address these rules and regulations, it could lead to a person's wishes regarding their gun collection not being able to be followed when they die.
Thus, when an estate plan involves a gun collection, it can be important for it to include an estate planning mechanism specifically configured to deal with the estate planning issues specific to guns. Gun trusts are such a mechanism.
When it comes to a creating a gun trust as part of an estate plan, it can be incredibly important to get all the little details right. A gun trust can be next to worthless if it isn't configured properly.
Our firm can help individuals who are interested in having a gun trust in their estate plan. We are very experienced when it comes to gun trusts and can assist clients with all the various aspects of forming such trusts. See our gun trusts page for further information on this topic.