Recently in Asset Protection for Firearms Category

February 22, 2013

ArmsGuard™ Protector- The Ultimate in Protection for Your Firearms

Many people are concerned about the ability to change the terms of their trust after they die or the Trust it becomes irrevocable. Our Professional Gun Trust no comes with an ArmsGuard™ Protector that allows for the terms of you trust to change if laws change in the future.

This means that if the local, state, or federal government changes a law dealing with firearms and your rights, your trust can be changed to deal with the changes even if the change is 300 years from now. If you have firearms and it is important to preserve them for future generations and keep creditors from being able to reach the firearms you should Contact Us to create a Gun Trust with the ArmsGuard™ Protector.

Remember it is important to have your firearms and magazines transferred to your Gun Trust before laws change. The ArmsGuard™ Protector can only work for items within the Gun Trust. Many states and the federal government now have bills before congress seeking to restrict our gun rights and the ability for future transfers. If these bills become laws, like recently happened in NY, you may not have the ability to buy, sell, or give firearms to your spouse or children. Some states have already passed laws which restrict the transfer of certain items so it is important to speak with a Gun Trust Lawyer® in your state.

February 19, 2013

ABA CLE: Gun Trusts and the Art of Protecting Your Client's Firearms for Future Generations

Lawyers in other states are always asking where they can learn about NFA Trusts and Gun Trusts. Here is an opportunity to learn about advanced planning with gun trusts for your clients.

I have been asked by the American Bar Association to present a CLE which will be available to lawyers and non-lawyers on the use of Gun Trusts to protect firearms from changes in future legislation. For those who are not familiar it was the ABA Journal that wrote an article on my a few years ago about the creation of a new area of legal practice dealing with Gun Trusts The print version of the article was In Goldmans Guns Trust and an online version is available under Florida lawyer Fashions Gun Trust (And Niche Practice).

Brief Program Description:
Gun Trust Lawyer® David Goldman will discuss the history of firearms regulation, federal and state firearm policy and control, potential changes to firearm regulation, and how the multi generational Gun Trust can help assist your clients with protecting their right to bear arms under the 2nd amendment. The presentation will also encompass an overview of enacted gun laws, how they affect your current rights and options, and how multi generational Gun Trust helps solve some of the issues that may arise. Lastly, Mr. Goldman will discuss ethical and malpractice issues one should always consider when dealing with firearms.

Sponsors:
The American Bar Association Solo, Small Firm and General Practice Division and Center for Professional Development

Live Webinar and Teleconference
Tuesday, March 19, 2013
1:00 PM - 2:30 PM Eastern

You can register for the event on the American Bar Association website using this link.

January 1, 2013

How can I Protect my Firearms for my Children

A Gun Trust is designed for all of your firearms even if you do not have any Title II firearms. Title II firearms are sold by Class 3 Dealers and include Silencers, Short barreled rifles and shotguns, AOWs, DDs and full automatic pistols and rifles.

While it is not necessary under the current laws (2012) to have a Gun Trust to allow others to use or be in possession of your firearms, there are rumors that many firearms that are currently classified as TItle I firearms may become Title II firearms and controlled under the National Firearms Act. If this happens we will all have to be careful about constructive possession and may lose the ability to transfer these firearms to others, may have to pay a transfer fee to transfer them to others, or may lose them upon our death.

A Gun Trust can allow you to allow others to have access to your firearms and even become the person in control of them after you die. While a regular Gun Trust can your beneficiaries to use and have access to the firearms there is a risk that the people who would receive the benefit after your death may not be able to actually realize the full benefits from the value of your guns.

There is a multi generational gun trust that may solve this problem if you transfer your firearms, magazines, and other related items to your Gun Trust before the law takes effect. It appears that the current proposed legislation would prohibit additional transfers and you might even lose your firearms after you die. With the Irrevocable Gun Trust or multi generational asset protection gun trust (our Professional Gun Trust), the Gun Trust will remain the owner of the firearms even after you pass away. This means that you beneficiaries, your kids and grandchildren, will become authorized managers and users of the firearms. If one day transfers are allowed again, like with the previous assault weapons ban, then they could realize the monetary value of the firearms by selling them. If there is no sunset provision or the ban becomes permanent your family and future family members can become the users and enjoy the benefit of possession and use of the firearms into the future.

Different states have different rules on how long a trust like this can last. Our trust allows for the creator or future manager of the trust to select the jurisdiction rules to follow. This means even if you live in a state with a relatively short time that a trust can exist, you can select the rules of a state so that the trust can last 360 years , 500 years, 1000 years, or even one that can last forever.

The Professional Gun Trust is not designed for everyone, but if you have a substantial firearms collection of the ability to protect the firearms from creditors or potential loss due to legislative change is important you should Contact Us to schedule a time to discuss how this trust may be of benefit to you. If you already have a Gun Trust, you can upgrade your current Gun Trust and for our previous clients we will credit you the full price of the previous trust. This trust is not available online and must be setup with a local lawyer. We start the process in our office to deal with the federal issues and the locally licence lawyer will make state specific changes for state and local laws.

December 23, 2012

Protecting your Firearms for Generations

How can a Gun Trust protect my guns for my children and other family members?

Recently we have had many inquires as to how a Gun Trust can be used to protect firearms from future or currently pending legislation. First let me say that while no previous gun law has taken away the current owners rights, there is no guarantee that a future law would not attempt to do so. In other words, no one can guarantee you what will happen in the future. If we look at the firearms restrictions that have been imposed on US citizens over the last 200 years we see that all legislation has been designed to restrict future purchases and transfers of firearms and even attempts to totally ban firearms have allowed those who already possess them to keep their guns.

All of our Gun Trusts are designed to own regular and NFA firearms including the so-called "Assault Weapons". Our lower end trusts are based on revocable trusts that will end at sometime after the death of the person who creates it. We do have a Professional gun trust which is designed to offer both asset protection and multi generational ownership of the firearms.

Historically a trust can only have a limited lifetime which is controlled by state law. The Rule Against perpetuity is a limiting factor that dates back to England and attempts to restrict the ability to control from the grave. The modern trend in the United State has been to increase the length of time you can control and in some states the restrictions have been abolished.

For example in Texas a trust can last 90 years after the death of the last person named in the trust dies, in Florida a trust can last 360 years, Arizona 500 years, Colorado 1000 years. In some states like Alaska, Idaho, New Jersey, Missouri, Pennsylvania, Kentucky, and South Dakota trusts can last forever.

The good news is that even if you do not live in one of the states that has expanded or abolished the Rule Against perpetuity, our Professional Gun Trust allows for you to elect to change the rules of your trust to follow another state at the time you create it or a later time. This means your Professional Gun Trust will be the owner of all of your firearms forever and children, grandchildren and beyond will be the authorized users of the firearms.

The Asset Protection Gun Trust is designed for the firearms owner or collector that is concerned about liability from their profession or personal life that may cause the loss of the firearms. In addition this Gun Trust can be structured for multi-generational use so that your kids, grandchildren, and future generations can use the same trust and have the same protections. The Multi-Generational Asset Protection Gun Trust uses Asset Protection techniques that can protect the firearms and other assets in the trust from your creditors as well as the creditors of your beneficiaries. Because of the complexity and cost involved with this trust, it has historically only made sense for those with $20K in firearms or where the individual desires for the trust to exist for future generations.

This Gun Trust is not designed for everyone. If you have a larger gun collection or keeping them in an asset protection vehicle so that future family members can use them is important than this Professional Version of our Gun Trust may be right for you and your family.

For those of you just looking for a good Gun Trust for NFA firearms and regular firearms without legal support you may check out the online form version. This Gun Trust comes with great instructions and a users copyrighted users guide. It is also designed for all of your firearms but at a lower price because it does not come with legal support. It can be found at GunTrust.com

While the prices and protections vary by state, here are some of the more significant differences in the trusts we offer with legal support that would be customized by a Gun Trust Lawyer® who is licensed in your state:

Feature AdvancedProfessional
Price $600-$750$2500-3000
Created by Gun Trust Lawyer®YesYes
Customized for you by LawyersYesYes
Ability to act without othersYesYes
Special Veto PowersYesYes
Protect Guns For Children
Grandchildren and beyond
NoYes
Asset Protection - Protects guns from:
- Your creditorsNoYes
- Your beneficiaries creditorsSomeYes
- Lawsuits Against YouNoYes
- BankruptcyNoYes
- DivorceNoYes (if spouse signs waiver)
- Disqualifying you from
GovernmentBenefits
NoYes

Ability to change beneficiaries

YesYes

Authorized Users (included)

15Unlimited
No EIN or Separate TaxesYesYes
Multiple BeneficiariesYesYes
Charitable Gifts to NRAYesYes
Multi State UsersYesYes
Multi State UseYesYes
Multiple OwnersYes
Multiple Trustee LevelsNoYes
Good for all FirearmsYesYes
Form to Add TrusteesNoIncluded
Form to Remove TrusteesNoIncluded
Form to change StatesNoIncluded
Form to allow for self
expiring Trustee
NoIncluded

Asset Protection does not protect from fraudulent conveyance or fraudulent transfers. Divorce and Bankruptcy protections vary by state. All protections are not available in all cases and how a trust is structured will determine the protections available. The Professional version of the Gun Trust does not permit you to change the beneficiary to yourself.

If you are interested in a Professional Gun Trust to own and protect your firearms for generations as well as protecting them from your creditors and those of your beneficiaries, Contact Us to create one before the laws change and you may not be able to transfer your firearms into a Gun Trust.

If you already have a Gun Trust, it can be upgraded to the Professional Gun Trust your previous investment will not be lost. We are currently reducing the price by what you previously paid to any Gun Trust Lawyer®.

May 1, 2012

A New Breed of Gun Trusts - Protecting Firearms Collectors & Their Collections

Red-Wagon-of-Guns.jpgAmmoLand has posted an article on Gun Trusts which has a good explanation of Gun Trust and why traditional estate planning is not appropriate for firearms collectors or owners. It also goes into some details on how a gun trust works, benefits of a gun trust, and how asset protection for your firearms can be accomplished. (This concept of this article was prepared by my office)

March 26, 2012

is your Gun Trust Upgradable? Which Gun Trust is Right for Me?

Many of us understand how addicting firearms are. When we purchased our first silencer, we had no idea how many we would eventually purchase and how quickly the value of our firearms collection would grow. As the average firearms collection of our clients has grown, we have come our with additional versions of our Gun Trusts for our clients. Because of our commitment to our clients and the firearms owners, we have allowed everyone to maintain their initial investment in their gun trust. The Gun Trusts Lawyers® that we work with will allow you to trade in your original Gun Trust for full credit towards our Asset Protection Gun Trust.

All of our Gun Trusts are designed for NFA firearms as well as regular firearms. As you know, many of the same issues in determining if your beneficiaries will be appropriate to receive your firearms after you die are the same for Title I or Title II firearms. When looking at the value of your firearms collection, be sure to consider the value of your entire collection. To help you decide which trust is appropriate we have put together some basic guidelines.

If you have less than $25,000 in firearms, the basic Gun Trust is probably the right choice. If you have between $25,000 and $50,000 in firearms you should consider the Asset Protection Gun Trust and if your collection is over $50,000 you should be using the Asset Protection Gun Trust.

If you would like to discuss upgrading your trust to take full advantage of the Asset Protection Gun Trust, contact a Gun Trust Lawyer® to discuss your specific situation.

January 12, 2012

Laredo Man Gets 10 Years for Illegal Possession

Today the ATF announced that a Laredo man was sentenced to 10 years for the illegal possession of a firearm. It is important to understand who can and who cannot own, possess, or use firearms whether they are Title I or Title II firearms. Just because you might not consider a silencer a firearm, its possession is limited in the same way a regular pistol is. While there is not official duty to ask if someone is prohibited, its wise to do so because not only is the possession of an item subject to the NFA regulated, but the transfer (handing it to them or allowing them to have access to it) is also regulated and could subject each of you to 10 years in jail and up to a $250,000 penalty per occurrence.

Our NFA Gun Trusts ( the basic and the new asset protection firearms trust) both allow the people involved with your trust to understand who is prohibited and who is not. Often people do not even know that they have lost their firearms rights and it is important to have them understand when they are a prohibited person as well as allow you to know whether a family member or friend is prohibited now and in the future.

If you would like to discuss asset protection for your firearms or creating a gun trust to own your firearms including Title II firearms, we would be happy to help you find a local Gun Trust Lawyer to create a trust for you.

January 3, 2012

Domestic Violence, Child Custody, Divorce & Gun Rights

One benefit of using a Gun Trust that is often overlooked is the ease of changing authorized users or managers of the firearms in the event of a charge relating to domestic violence or other Lautenberg amendment violations. We all know people who have been involved in a divorce and had claims of domestic violence or child abuse made to potentially bolster the other spouse's position regarding the divorce, alimony, child custody, or child support. Unfortunately, the way in which your divorce attorney deals with this issue, could cause you to lose your firearms rights. It is very important to make sure your divorce attorney understands these issues or consults with an attorney who does so that you do not lose your rights over a technicality.

More importantly, if you do lose your rights, you may lose your investment in your firearms as they may not be transferable in time to lose them to a confiscation. With a Gun Trust, even though you can be a manager, you do not technically own them. Therefore, if you lose your rights to own or possess firearms, we simply need to amend your trust to deal with the possession issue as you are no longer the owner anyway.

This becomes much more important with Title II firearms (those sold by Class III Dealers) because of the time it takes to transfer these firearms. For more on this you may want to read the Jacksonville Divorce Attorney Blog's article on Domestic Violence and Gun Rights written by Kelley Ryan a Jacksonville Divorce Lawyer.

November 29, 2011

Can a Gun Trust Provide Asset Protection?

New Gun Trust Provides Asset Protection for Firearms Collectors and his or her Family.

Until now, the answer has been that a gun trust does not provide any asset protection for firearms. Today we are announcing a new form of Gun Trust for the Gun Collector that does provide asset protection from creditors of the creator as well as the beneficiaries. This trust has many of the same benefits of our normal Gun Trust and we can even convert your previous gun trust to a new asset protection gun trust.

This trust is not designed for everyone but should be considered if you have a substantial firearms collection.