If you’re concerned about losing your right to own a firearm then a Gun Trust may be for you. A Gun Trust is a type of revocable trust and is treated as a separate entity that holds title to assets that are titled in the name of the trust, which can include firearm(s). Some of the benefits of a gun trust include providing for other people to have access to and transport your firearm(s), and allowing you to name multiple persons such as co-trustees, or named beneficiaries who have access to your firearm(s).
Another benefit is that the trust can be amended so that beneficiaries and/or trustees can be changed. The trust may eliminate additional stamp tax payments of $200 mandated each time there is a transfer from individuals. If an individual owns a firearm(s) when he or she dies, then a probate needs to be opened up to transfer the firearm(s) to a qualified possessor.
If an individual is deemed incompetent, such as a result of a Baker Act, and they own a firearm(s), they can be subject to confiscation. A gun trust will allow another named individual, trustee or beneficiary, to have the right to use the firearm(s) without fear of confiscation. The following can also be placed into a gun trust: silencers, short-barreled riffles, short-barreled shot guns, machine guns, destructive devices, and any other weapons.
For more information call attorney Audra Simovitch.