Those of us that live in states that support our 2nd Amendment rights and allow responsible firearm ownership are aware of the responsibility we have as gun owners in the safe storage and use of our guns.
What is often overlooked however is how those guns are handled after we pass and how they will be handled or liquidated for the benefit of our families.
There is an obvious concern if you own even one or two guns, but if you have a collection the the issue becomes more complex and even more so if you have any weapon covered by Title II of the Gun Control Act of 1968, commonly referred to as the National Firearms Act or NFA, which regulates short‐barreled rifles and shotguns, suppressors, machine guns, special purpose weapons (AOWs), and DDs (destructive devices and explosives).
As an asset protection attorney I ask all clients about firearms ownership to know if:
1. You are doing something that creates a LIABILITY in this politically hostile climate and;
2. If you have an asset I need to protect in a collector grade or high value firearms collection.
The link below is to a great summary in FORBES that hits upon many of the issues related to estate planing and guns:
As always, be safe and call or email with questions – Ike