Gun Trust

[john5036]

I live in Texas.

I need some information concerning gun trusts. I went through Google, and searched through THR for "gun trust" but "gun" and "trust" are quite the often used words and I couldn't really find anything definitive to satisfy my research that wasn't a legal advice ad, or just a definition.

Any THR members who use a gun trust willing to share their application process and just provide how they met the requirements, and the benefits (or not) of a gun trust?

Thanks all.

Regarding the poll: Choose all that may apply.

 

[dprice3844444]

check the nfa section,several discussions there.if you are using it to bypass sherriff's signature to buy nfa act weapons,make sure it's done by ann atty.

http://www.guntrustlawyer.com/states/texas/

google gun trust attorneys

 

[Bartholomew Roberts]

John, if you are in Dallas or Collin county then a gun trust is probably your best option for NFA ownership. If you aren't interested in NFA weapons, then it doesn't help more than a typical trust would. If you are in a county where the chief LEO will sign, then it depends on whether you want others to be able to use your NFA weapons.

I'm an attorney in Dallas; but not your attorney I've set up a few gun trusts but currently I have more than enough work to keep me busy and am not taking on new clients; but if you'd like general internet forum non-specific advice I can answer some questions.

 

[john5036]

I'm an attorney in Dallas; but not your attorney

Haha, I love that. I'm preparing to take the LSAT in June and that statement is the "little" that I currently understand about the legal culture. My business law professor in college would always preface his lectures with a similar statement.

Generally speaking, my only knowledge/hearsay about the gun trust has more to do with how it will/will not protect my family's/trustees' ownership of the firearms in the event of my passing. The firearms are one of many items I do not wish to be fought over per se, and my understanding is that a trust will establish proper boundaries to keep it simple.

Can you expound on that?

The NFA items are not really that important to me at this juncture.

 

[Bartholomew Roberts]

If you aren't interested in the NFA aspects, then a gun trust will probably have minimal utility for you. Texas has good probate laws. Many of the issues that require a trust in other states are unnecessary under Texas law providing you have a will and name an Independent Executor. Trusts can still be useful to mitigate tax consequences; provided you have millions in assets. Estate planning can be a complex subject and is not really one suited to internet forums, so you probably want to talk to an attorney about your specific issues.

 

[medalguy]

Agreed. I have a trust, a will, and an NFA trust. Each serves a different purpose. If you're not looking for an NFA trust for the purpose of avoiding the LEO signature requirement, I don't think a trust will accomplish anything that a properly prepared will can do except for estate purposes.

 

[dprice3844444]

If it is a regular trust,guns are like the rest of the property in the trust,just specify who gets what,end of story

 

[john5036]

Another reason to keep me and all my stuff in Texas...

Thanks guys!