When engaging in the estate planning process, it’s easy to focus exclusively on the big assets such as real estate, retirement assets, investment accounts, and life insurance. It’s equally easy to discount the importance of planning for items of personal property. This is a mistake, because personal items can often times carry value far beyond what can be measured by dollars and cents.
Therefore, we encourage everyone to spend time planning for items of personal property, but certain items demand special attention. Firearms are unique in this regard; guns are the only item of personal property that carry an inherent risk of legal peril including potential criminal liability, so careful and deliberate planning is warranted.
Join Attorney Drew MacDonald from Amundsen Davis as he explains how Gun Trusts can be used to accomplish transfer of ownership without unintentionally breaking the law.