If you want to own guns in Texas and are interested in purchasing Title II firearms restricted by the National Firearms Act (NFA), then you might want to consult a Texas gun trust attorney about a gun trust. A gun trust authorizes you to protect your guns both during and after your lifetime without the complications that typically surface after a gun owner’s passing.
A gun trust is a revocable trust erected to hold the title to your guns. For that reason, the trust is a legal entity, and it becomes appointed as the legal owner of the firearm, and ownership is shifted to the trust or bought by the trust. A trustee is designated to administer the trust for the trust’s recipients. Since the trust is revocable, the grantor may choose to modify the trust agreement or nullify the trust at any moment before the grantor’s death. Upon the passing of the grantor, the trust then becomes irrevocable and cannot be canceled. An alternate administrator manages the trust for the beneficiaries after the grantor’s death.
Gun trusts may also be alluded to as NFA trusts because they are usually created to own possessions subject to Title II of the National Firearms Act (NFA). Guns that are accountable to the limitations and laws of the NFA are suppressors, machine guns, short-barreled rifles, and short-barreled rifles. A gun trust has distinctive regulations that make sure that the trustee and beneficiaries do not violate the NFA. Breaching federal firearm laws, even unintentionally violating the laws, may result in the loss of the firearms, fines of up to $10,000, and a prison term of up to 10 years.
Why would I need a gun trust?
There are numerous advantages of starting a gun trust, generally, if you want to obtain Title II guns. One of the most evident benefits is guaranteeing that your successors do not violate NFA provisions by accident. The conditions and terms of a gun trust are meant to thwart some common violations of the NFA.
For instance, a prospective possessor of a Title II NFA firearm must be enlisted before having the gun in their possession, including beneficiaries and heirs. Consequently, if a gun owner dies, complications can swiftly initiate if the intended heir is not registered or the personal representative of the estate is not registered. If the successor does not fulfill the requirements for registration for any reason, the issue escalates.
Since a trust is a legal entity, it can virtually register to own its gun like a Title II firearm. Any administrator that is representing the trust can legally possess a firearm registered to the trust.
A gun trust permits firearm owners to keep details about their guns confidential as well. Trusts are not ordered to probate; therefore, the guns owned through a trust are never itemized in a person’s probate estate. Moreover, a gun trust can be utilized to hold title to other weapons to protect a firearm collection and safeguard it for the future generation.
Call Us for a Consultation and Set Up a Gun Trust Today
It’s never too late to start planning your estate. A lawyer can be beneficial with helping you streamline the process and ensuring that you are delighted with the coverage that your estate plan provides you. A Texas estate planning attorney can guarantee that a gun trust offers the protection you need and that you and your recipients do not infract any gun laws. Our team of attorneys has over 35 years of experience helping families plan for their futures. We can also guarantee that we will see to it that we construct a trust that abides by all laws and maximizes other benefits of using trust agreements as part of your estate plan. We welcome you to call the Voeller Law Firm at (210) 651-3851 to request a consultation and learn more about gun trusts and estate planning. We are proud to serve the greater San Antonio, Nexar Country, Comal County, Guadalupe County, and South Texas areas.
Our services go far beyond merely preparing – we do our best to help you protect your future.