Setting up an FFA gun trust
Many are familiar with a trust. What many may not know, is that a trust can be legal instrument that protects not only your guns, but their legal passage for whom you intend to possess them once you pass away. For example, a minor cannot legally possess a firearm; simply because they can’t own personal property until they are 18. In Mississippi, you can’t purchase a handgun until you are 21.
Getting back to the point, it is mindful of any person to make sure their valuables are taken care of. Specifically, if any weapons you possess are covered by Title II of the Federal Firearms Act; technically, whether living or deceased, you are the only one with the license to possess them. This can create problems. Read on…
Establishing a trust is the best way to not only leave your valuables behind without incurring a fee, but vesting authority in a trustee who can transport the equipment if it is not currently in your possession and you need it returned to you or to your beneficiary.
So to avoid any potential problems, you need to consult a lawyer.
Easily avoided problems
The BEST way to establish your wishes is to consult a lawyer with experience in estate planning and probate to execute a last will and testament. Often, land can be devised by deed, and property devised by will or gifting. Sometimes, a trust becomes a great option. This is particularly important when it comes to guns regulated by State and Federal law.
Online forms and research WILL NOT help you. In fact, these types of documents will likely create more problems; problems you will not be able to handle after you are gone. Problems you don’t want your loved ones to deal with.
You may ask yourself… do I need a will? Do I need an FFA gun trust? The answer: talk to an attorney. Not just any attorney. Call us: Panter Law Firm, PLLC.
If you are curious about your area, call us. We handle wills, estates, related trusts, and probate cases across Mississippi. Chancery Courts in Mississippi have jurisdiction over these types of issues. However, the documents can be held in person. Check out this map to see our practice area.
Article by Richard Poole Noel, III
Panter Law Firm, PLLC, 7736 Old Canton Road, Suite B, Madison, MS 39110