Dynamic Estate Planning Is Helping Clients Set Up Gun Trusts in Georgia
Guns are an American tradition. Not only can firearms be used for defense and hunting, but old and exotic guns can also make for interesting and historical artifacts. Thanks to that, some gun owners have built sizable collections of legally-owned firearms.
That is not a problem while the legal owner of the firearms is alive. However, these collections can become a problem when it comes time to transfer ownership to one’s heirs. A problem that Dynamic Estate Planning has been helping clients avoid by setting up Gun Trusts.
A gun trust is a document that covers all of the legal basis needed to allow a smooth transference of ownership upon one’s passing. And it is one of the many estate planning services provided by Dynamic Estate Planning. Founded by Greg Jacobs, Dynamic Estate Planning is an Atlanta law firm that provides specialized services in Asset Protection, Estate Planning, Trust Administration, and more.
For gun owners, establishing a gun trust can help prevent many issues. Without proper state planning surrounding the transfer of firearms, the heirs trying to inherit the guns may find themselves having to navigate a tricky legal situation. In a worst-case scenario, the gun collection may need to be disposed of.
It’s also not uncommon for heirs to accidentally break the law by taking possession of the guns without obtaining the proper permits.
To help prevent these and other issues, Dynamic Estate Planning works with clients to set up gun trusts that address all of the legal requirements involved in transferring firearms to a trustee. The trust will safely and legally mandate the transfer of the gun collection upon the death of the owner of the firearms, smoothing out what might have been a legal challenge.
Part of the process is ensuring that the named heir meets all the requirements to own the guns being passed to them. In states where owning a handgun requires a permit, for example, the heir will need that permit. Otherwise, it’ll be illegal for them to hold or possess a gun. Meeting these and other requirements can get tricky, especially when dealing with large collections that include exotic firearms.
As the Dynamic Estate Planning website explains: “Gun trusts are typically for those in possession of firearms under the National Firearms Act (NFA) Title II of the Gun Control Act of 1968. Title II weapons include fully automatic machine guns, short-barreled shotguns, or suppressors aka silencers.”
One of the challenges when setting up a gun trust is that firearms regulations involve both federal and estate laws. Dynamic Estate Planning’s gun trust service is specifically for legal firearm owners living in Georgia who wish to pass down their gun collections. More information about Dynamic Estate Planning’s estate planning services can be found on the law firm’s official website.
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