Gun Trusts In Colorado
What Is A Gun Trust
A gun trust is similar to other types of trusts, in that you put ownership of assets into the trust and then dictate how those assets will be handled – while you’re alive and after your death. Typically, gun trusts are used for weapons that are regulated by the National Firearms Act (NFA) or Title II of the Gun Control Act (Title II).
Why Set Up A Gun Trust
By setting up a gun trust in Colorado, you can make sure that you’re complying with all of the local, state, and federal laws that apply to firearms. You can also help ensure that your family members aren’t accidentally violating the law if you become incapacitated or die.
Protect Your Privacy With A Gun Trust
If you leave guns to your heirs via a will, that will becomes part of the probate process, which is public record. A gun trust, on the other hand, allows you to avoid probate and protect your privacy.
Avoid Transfer Requirements With A Gun Trust
In your gun trust, you can designate that your firearms stay in the trust even after your death, but grant rights to the beneficiaries of the trust. By doing this, whoever receives your guns may not have to comply with all of the typical firearms transfer requirements (which can include a transfer tax, submission of an ATF form, and getting fingerprinted and photographed). However, these rules have changed and the benefits of this type of trust are not quite the same. Be sure to talk to an expert before moving forward with your plan.
How To Set Up A Gun Trust In Colorado
Transferring ownership of guns to other people – while you’re alive or after you die – can’t be easily done without potentially violating firearms regulations. And with those violations can come stiff fines and/or jail time. So having an experienced trust attorney set up the gun trust for you is the best way to go.