You probably know that you can create a trust for your assets, but did you know that you could create a trust for any guns you may own?

Why does someone need a gun trust?  Primarily a gun trust assists with any issues surrounding ownership and possession of firearms.  Your trust becomes the owner of your firearms.  The trustee is the possessor of the firearms.  When you, the primary trustee, dies the secondary trustee becomes the de facto possessor.

If you would like to put your firearms into a trust, the trust will have to be separate from your living or other estate planning trust.  First, the gun trust will have to comply with regulations pertaining to the transfer of firearms.  In addition, while you can name anyone you want as a trustee in a family trust, a trustee of your gun trust should have the legal authority to possess guns, such as a FOID Card (Firearm Owners Identification) holder.  Further, assets of the gun trust should have a secure safe to which only the trustees have access.

If you would like to discuss this further, please contact Matuszewich & Kelly, LLP and ask for Natalie Pesin (npesin@mkm-law.com).

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