What is a gun trust?

A gun trust is a legal entity created for the purpose of owning firearms. It allows multiple people to be listed as trustees of the trust, giving them shared ownership and control over the firearms held within the trust. This can be particularly useful for families or groups of friends who want to share ownership of firearms, as well as for individuals who want to ensure that their firearms are properly passed down to their heirs.

One of the main benefits of a gun trust is that it can simplify the process of transferring firearms upon the death of the trust creator. By listing beneficiaries in the trust document, the transfer of firearms can bypass the usual probate process, saving time and money for the beneficiaries. Additionally, a gun trust can provide added privacy and protection for the trust creator and trustees, as the trust document is not a matter of public record.

Gun trusts are subject to federal and state laws governing the ownership and transfer of firearms, so it is important to consult with a knowledgeable attorney when setting up a gun trust to ensure compliance with all relevant laws and regulations.