What Are The Benefits Of A Gun Trust For Estate Planning In Jeffersonville, IN
As a former criminal prosecutor, I am aware of state and federal gun laws and what behavior constitutes criminal conduct. While working on estate matters for clients who had no estate plan or poorly drafted plan, I have come across situations where innocent people unknowingly violate gun laws and commit an “accidental felony.”
Consider, for example, a generic Will drafted by a father who intended to leave his entire firearms collection to his beloved son. Suppose that the son was convicted of a domestic violence offense in Jeffersonville, IN before his father’s death. The Will names the father’s other child, his responsible, hard-working daughter, as the personal representative (also known as an executrix). Like many children, she and her brother meet at their dad’s home to divide his personal belongings. During that process, the daughter follows her father’s wishes and gives all of the guns to her brother.
A Gun Trust Can Help Avoid Many Legal Entanglements In Jeffersonville, IN
This man drives the firearms across the country to his home in another state. The daughter did not have a clue that she and her brother have just committed multiple felonies. Even worse, many gun laws don’t require that the violator have knowledge of the criminal law violation: both the son AND the daughter in this case could be convicted of a federal crime and imprisoned. The poorly drafted will in this situation left no alternative gift to the son, did not name an alternate beneficiary to receive the guns, and did not in any way address the laws pertaining to the possession or transfer of the firearms.
If these firearms had been transferred to a gun trust, the criminal behavior would have been more likely avoided in Jeffersonville, IN, because the trust would have in black and white prohibited the transfer to the son and alerted any attorney and the personal representative to this fact. In other words, the criminal behavior could have been completed avoided by the properly drafted gun trust. There would have been no question that the son could not receive the firearms. The trust would have directed that the guns go to the father’s alternate beneficiary.
Gun Trust For Holding Onto NFA Or Class 3 Firearms In Jeffersonville, IN
Many clients contact me because they have read that gun trusts are useful tools to obtain and hold firearms regulated by the National Firearms Act (NFA) in Jeffersonville, IN. These firearms are also called “Class 3” by many gun dealers and “Title II” by those in the legal field. Sharing possession of NFA firearms through a gun trust is a wonderful benefit of a properly drafted gun trust. However, our gun trusts are designed to provide this benefit and even more: they are a legal gun safe that will alert unknowledgeable citizens and attorneys to the restrictions on the transfer and possession of firearms, they outline a plan for the gun owner’s death and also for the gun owner’s incapacity, and they create a dynasty trust for the gun owner’s children.
What Are The Benefits Of A NFA Gun Trust In Jeffersonville, IN
A firearms collection in Jeffersonville, IN may be the product of one spouse’s interest. The other spouse tolerates this interest, but does not care nearly as much about the items that have accumulated. Due to death or disability, the disinterested spouse or other family member may be forced to manage or distribute the collection. Because of the vast amount of federal and state regulations pertaining to both NFA and non-NFA firearms, a disinterested spouse may make a mistake as to the applicable laws. A violation of the applicable laws usually results in the commission of a felony.
Because an Alex Kincaid gun trust is designed with this scenario in mind, there are detailed instructions to guide a trustee in handling the assets as well as an overview of applicable laws and regulations.
The Advantages Of A Gun Trust Over A Living Will In Jeffersonville, IN
A firearms trust is also designed to allow for multiple users of the items held by the trust. This is in direct contrast to a standard revocable living trust in Jeffersonville, IN. The firearms trust specifically allows for any named trustee, successor trustee, and any named beneficiary to have the ability to use or possess the trust assets. There is even a provision that will deem any person that you are shooting with a beneficiary of the trust so that person will be in lawful possession of the trust firearms. The trust also allows for the formal appointment of beneficiaries for a limited duration with a set expiration date. These “automatic beneficiaries” and “limited duration beneficiaries” have no rights for inheritance unless they are also listed as a “remainder beneficiary” in the trust, so you can enjoy sharing your firearms without worrying that you gave away more than you intended.
A firearms trust in Jeffersonville, IN also has many standard trust features such as avoiding the probate process for the firearms and the public record that the court system will create. The trust creator has the ability to create and update a tangible personal property memorandum, which grants different people specific items of a collection.
What Does a Properly Drafted Gun Trust Look Like In Jeffersonville, IN?
When properly written, gun trusts are powerful asset protection and estate planning tools in Jeffersonville, IN. A well-drafted gun trust will achieve the following for the gun owner who creates the trust:
1) Ensure that friends and family can lawfully possess and transfer trust-owned firearms during the gun owner’s lifetime;
2) Create a private plan that completely avoids the court system for all firearms if the gun owner becomes incapacitated or dies;
3) Eliminates most of the bureaucracy involved when acquiring NFA firearms;
4) Helps the successors and heirs to understand the gun owner’s desires related to all the trust-owned firearms;
5) Helps the ones you care about to comply with firearms laws when they possess or transfer the firearms;
6) Assists the gun owner to own firearms in more than one state; and
7) Ensures that neither gun owner nor any loved ones commits an accidental felony.
This Article Is Provided by Attorney Alex Kincaid
US Precision Defense keeps you updated on all state gun laws
As all states have their own set of gun laws, it is important to familiarize yourself with the laws. CCW provides state gun laws information for all 50 states
State concealed carry legislation are becoming more complicated every year, as the political climate changes so do concealed carry legislation. As different events take place across the country and the current call by many on the left-democratic party for more strict restrictions for gun control, there is a growing debate within the country on how to assure that only certain civilians are allowed to purchase guns. This political ideology is creating a great debate among legal scholars and constitutionalists wanting to protect civilians’ rights to own and take up arms, and the spirit and letter of the concealed carry legislation of the Second Amendment.
As each state is sovereign, they are free to enact their own restrictions on their state concealed carry legislation above and beyond that which already exist at the federal government level. This is why it is so important for gun owners and concealed carriers to know the gun control laws specific to Jeffersonville, IN and any areas they may travel to outside of Jeffersonville, IN.
Each state’s concealed carry legislation vary dramatically from one another, while a large majority of states at this time are clearly pro-second amendment and pro-sidearms, offering sources to gun owners and civilians wishing to own or possess sidearms and open carry either constitutionally or concealed carry with a concealed carry license.
In most states, concealed carry legislation are fairly straightforward. Yet there are exceptions with states such as California, New York, and Connecticut, which have extremely restrictive and very complicated concealed carry legislation.
What is completely legal in one state can be a felony in another state and a simple possession of a type of a gun can land you in prison!
In addition to the state concealed carry legislation, something that is overlooked by many is what are the laws in Jeffersonville, IN concerning sidearms and the use of deadly force and your legal, criminal, and civil liability that you could face in the event of a self preservation shooting event.
Understanding the criminal and possible civil liability is just as important as understanding all of the Jeffersonville, IN concealed carry legislation!