Collierville Estate Planning Attorney Helping Clients Create Gun Trusts

Accomplished lawyer serving West Tennessee for more than 30 years

At The Collierville Law Firm, Attorney William L. Hagan III helps West Tennessee residents establish legacies based on their circumstances and values. One of the most important estate planning concerns is the transfer of property to designated beneficiaries upon one’s death. There are different ways to do this, and the disposition of certain assets, including firearms, might justify a separate legal instrument.

What is a gun trust?

A gun trust is a specialized legal trust designed to hold ownership of certain firearms while establishing clear rules for possession, management and future transfers. Although this instrument resembles a traditional estate planning trust in many ways, it also addresses federal and state firearm laws that may affect ownership and distribution. 

A properly drafted gun trust can do the following: 

• Identify who may lawfully possess firearms owned by the trust
• Establish successor trustees who will oversee possession the firearms if the original trustee dies or becomes unable to serve
• Provide instructions for transferring firearms according to applicable laws

For many firearm owners, a gun trust provides an organized method for managing firearms while reducing confusion for surviving family members. We can help with trust creation and check whether specific federal or Tennessee requirements apply to your collection.

Do I need a gun trust to transfer my firearms legally to loved ones?

A gun trust is not legally required to leave your firearm to a friend or family member. Many firearms are part of a decedent’s estate and distributed through the standard probate process. However, leaving property to someone in a will means that you have no control over what happens to that item once you pass away, and there are certain reasons why you might to want to put some limits in place when it comes to one or more firearms. You might consider a gun trust for reasons such as:

• Preventing individuals who lack responsibility from receiving trust-owned firearms
• Keeping an heirloom weapon in the possession of family members
• Shielding information regarding firearms and accessories from the public probate process
• Organize future transfers so they comply with applicable regulations

Our attorney can help you determine if this approach supports your estate planning objectives while respecting individuals’ gun rights. 

What types of guns can be added to a gun trust?

Common examples include: 

• Handguns and many standard rifles or shotguns that are lawfully owned
• Certain firearms regulated by the National Firearms Act, provided all legal requirements are satisfied

Each firearm should be reviewed individually before it is transferred into the trust. Our firm can evaluate ownership records, applicable regulations and trust language to help ensure the transfer is handled properly as part of your trust creation process. 

How many people can possess firearms in a gun trust?

A gun trust can include language that gives more than one person access to weapons held by the trust. The designated trustee or trustees have a legal duty to honor the instructions left by the grantor. Your trust may also identify successor trustees who assume responsibility if the initial trustee(s) cannot fulfill their duties. Beneficiaries can obtain ownership of the firearms under the trust terms after all legal transfer requirements have been met. For example, a grantor might decide to shift ownership of the gun and dissolve the trust when a beneficiary reaches a certain age. 

What is required to set up a gun trust?

A gun trust requires additional planning beyond that of many traditional revocable or irrevocable trusts because firearm ownership is subject to specific legal requirements. The process commonly includes: 

• Reviewing your firearm collection and ownership records
• Determining whether any firearms or accessories are subject to additional federal or state regulations
• Drafting trust provisions that address firearm possession and management
• Selecting qualified trustees and successor trustees
• Completing any required transfer documentation for regulated firearms
• Updating the trust as your collection or family circumstances change

We can help ensure the trust reflects your wishes while addressing the legal requirements that apply to your collection. 

Speak with an experienced Tennessee lawyer about establishing a gun trust

The Collierville Law Firm assists clients in the greater Memphis area and throughout West Tennessee with their unique estate planning needs, including the creation of gun trusts. To schedule your free consultation, please call 901-614-0318 or contact us online.