PET & GUN TRUSTS
Don’t forget about your four-legged fur kids! A pet trust is often the most certain way to protect your pet’s future. A pet trust addresses periods of incapacity, as well as the death of a pet owner. Through a pet trust, the pet owner can designate exactly how funds should be spent. Moreover, the pet guardian will have a legal responsibility to care for the pet.
A Firearms Trust, aka Gun Trust, is a special purpose revocable living trust that is created to hold only firearms. With a Firearms Trust, the trust owns the firearms, instead of individual ownership. It is commonly used for ownership of federally regulated firearms, also known as Title II or NFA items. A Firearms Trust may provide simpler registration or transfer process for NFA items, prevent accidental felonies in the handling or transferring of NFA items, expands the list of eligible possessors of NFA items, and offers greater privacy for the owner. For non-NFA firearms, a Firearms Trust is a more cautious and intentional approach to the handgun’s transfer upon the owner’s incapacity or death. When properly drafted, a Firearms Trust promotes responsible handling of firearms, and is entirely legal.