Many people don't realize that a gun trust is a valuable tool during the estate planning process. It allows gun-owners to transfer their firearms to their heirs without having to worry about legal problems.
It's important to know, though, that gun trusts are state-specific. For example, an Oregon gun trust must be in compliance with Oregon State law.
Here are a few other questions and answers about gun trusts in Oregon.
Can Anyone Obtain A Gun Trust?
The National Firearms Act (NFA) regulates the firearms held under a gun trust, so some people refer to a gun trust as an NFA trust. There are certain restrictions that apply when attempting to get such a trust. These restrictions are similar to those that apply when you want to purchase a firearm in the first place.
What Are The Benefits?
Having a valid gun trust in place provides several benefits to the trustees and beneficiaries alike:
- No one is required to be fingerprinted.
- Signatures are not required by any law enforcement officials.
- There are quicker approvals in comparison to registrations.
- There is a built-in estate plan, so all weapons are transferred as directed in the trust.
- All additional items purchased are added to the gun trust without much paperwork.
Why Work With A Lawyer?
It's important to consult with an experienced attorney before creating a gun trust. Some gun dealers will issue generic gun trusts that don't comply with Oregon State law. This makes them invalid. An attorney can discuss your specific needs and goals with you, then draft the trust accordingly.