If you own firearms, it is important that you create a gun trust. This type of trust can be very flexible. A well-drafted gun trust will deal with the many issues that arise, including if one of the beneficiaries is a minor child, immature or a prohibited person at the time the grantor dies.
One of the most significant advantages of a Gun Trust is that fingerprints, photographs and certain approvals are not required. This can speed up the process and provide more privacy.
Some people create a business entity to own firearms, which provides many of the same benefits as a trust. However, business entities often require yearly expenses, formalities and they are not designed to deal with ownership, transfer and possession of guns like a trust.
If it is important to you that your gun trust is designed to protect your firearms for generations or from creditors, it is essential that you inform your attorney of this fact. If you need help with creating a gun trust, contact Maura Curran today.
