Pass on your firearms the right way and avoid complications and delays
One in three people in Arizona own a gun.
However, when you pass away, it is not as easy as you might think to hand down the firearms you own. Complications often arise with ownership and licensing.
If you plan ahead, you can mitigate the potential for any issues when you are gone. That is why a gun trust may be an important part of estate plans for many individuals in Arizona.
We help you:
- Understand whether a gun trust is right for you
- Setup your gun trust
- Ensure that your firearms are distributed according to your wishes when you are gone
The benefits of setting up a gun trust now
Gun trusts are sometimes used by individuals in Arizona to enable the acquisition of certain types of NFA firearms, such as suppressors, silencers, short-barreled rifles and short-barreled shotguns.
From an estate planning point of view, the most important use of gun trusts is to simplify the process of transferring your firearms (both NFA and otherwise) to your loved ones when you are either incapacitated or you pass away.
You can specify who gets what and at what age they are entitled to receive them.
That means family members will not have to deal with:
- Long delays with probate
- Potentially high fees
- Lengthy approval processes for transfers of firearms
Failure to address this beforehand could result in:
- Confiscation of firearms
- Destruction of the guns
- Sky-high taxes
- Forced sale
A gun trust protects family members from criminal liability for being in possession of your firearms after you are gone. The beneficiaries will be allowed to possess, transport or sell your firearms without fear of punishment.
Gun trusts also shield your firearms from creditors (in lawsuits or divorce cases, for instance) and from being considered as countable assets when calculations for long-term health care in nursing homes are made by Medicaid.
As well as protecting your loved ones, a gun trust helps you protect your cherished firearms. You can give care instructions and pass on advice for preserving their value.
Gun trusts are complex: get the right advice
Mistakes in setting up your gun trust can lead to the types of complications outlined above.
Never attempt this complex area of estate planning without first getting the right legal advice. Especially, be wary of any services described as “do-it-yourself gun trusts” that can be set up “in minutes”.
We have an attorney on staff who is a gun enthusiast with extensive experience in helping individuals in Arizona properly protect all their assets through trust formation – including their guns.
Once you set up your gun trust, if there are future state or federal changes to gun control laws that affect your wishes, you can amend your trust quite easily.
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