Asset protection is not just about protecting your home, family heirlooms, and personal wealth. You may want to consider whether a gun trust would be helpful for protecting your firearms. Gun trusts are generally used for holding NFA firearms: Short barrel rifles, short barrel shotguns and suppressors. A gun trust can make it easier to own these types of firearms.
A gun trust is also easier to manage and use NFA firearms. Since it is illegal for anyone other than the registered owner of an NFA firearm to possess, or even have the ability to possess NFA firearms, the trust allows for designated trustees who will have the ability to possess and use these items through the trust.
Transferring non-NFA firearms and other assets is much simpler than transferring NFA firearms. Additional benefits include flexibility, quicker processing and allows for more privacy. Gun trusts, unlike businesses, i.e. LLC’s, do not have yearly expenses or formalities. The are designed to deal with ownership, transfer, and possession and use of firearms.
Our law firm is now preparing Gun Trusts. Please contact us if you have questions about gun trusts or whether a gun trust is right for you.