The many proposed gun trust changes being reviewed by federal officials have taken attention away from the enduring benefits these estate planning tools offer. Although changes in confidentiality and documentation requirements are evolving for grantors and trustees of gun trusts, the primary functions of gun trusts still remain.

Our gun trust attorneys in North Carolina, Florida and Tennessee review a few benefits that will remain even after federal gun trust changes go into effect as expected later this year:

  1. Clear instructions. GunDocx®, the specialized estate planning system our gun trust attorneys utilize, includes detailed instructions on how to use, transfer, and dispose of the firearms included in the trust. Grantors can also include funds in addition to firearms in their gun trust. These funds can be allocated specifically for firearm education courses for beneficiaries.
  2. Control. Grantors have full power in designating authorized users for each firearm and can include specific instructions for the disposition of each item. Conventional trusts do not address gun laws. GunDocx offers gun owners the greatest control possible over their firearms assets.
  3. Legacy planning. When firearms are part of a family culture, traditions can be outlined and carried out to preserve them for future generations. In these situations, proper gun use is a family tradition and a gun trust can ensure the legacy.

If you wish to acquire NFA-regulated firearms, act now to form and fund a gun trust to avoid the upcoming requirements of CLEO approval, and submission of photos and fingerprints of all trustees. If you already have a gun trust and are concerned about complying with federal gun trust regulation changes, contact the gun trust attorneys at Southern Gun Law Group.

In addition to federal regulations, every state has unique laws addressing gun ownership. As is the nature with gun legislation today, these laws are dynamic. In addition to regular estate planning reviews, right now is an important time for gun owners to consult with a lawyer experienced in gun trust formation.