How To Leave Your Heirs Your Gun Collection in Illinois

There are many people enjoy hunting as a hobby, and often hunting is a shared interest amongst family members. When you wish to leave your collection of guns to someone after you die such as your child or other loved one, a gun trust is a good option.

A gun trust can be used alongside a will to direct your assets when you die. But a trust can offer several benefits that a will cannot.

What Is A Gun Trust?

When building an estate plan, many people choose to have both a will and trust. A gun trust allows gun collectors to safely and legally transfer their personal guns to a family member without exposing them or the will’s executor to criminal liability.

Some benefits of having a gun trust are:

• Bypass Probate - Probate court may be expensive and take a long time before the collection is given to the beneficiary. You can bypass going through probate with a trust. It allows the opportunity for guns to transfer to the named person immediately.

• Avoids Fingerprinting - When a person receives a gun, they often must contact the local police department and be photographed and fingerprinted before accepting it. With a gun trust, this step is not necessary.

• No ATF Fee - When someone transfers the ownership of a gun, the ATF (Bureau of Alcohol, Tobacco and Firearms) typically requires a $200 transfer fee. This fee is unnecessary with a gun trust, but all guns still need to be registered.

A gun collector must comply with all Illinois state and federal gun regulations before leaving their collection to a specific beneficiary. This is why it’s crucial to work with an experienced Illinois estate planning attorney.

Why You Need an Estate Planning Attorney

There are strict state and federal regulations when transferring ownership of guns to another party. Before setting up a gun trust, you must ensure all firearms have a serial number and are registered. It is illegal to own or transfer guns that are not registered.

A well-drafted trust should ensure there are no violations of federal and state laws. The trust will also guide trustees and beneficiaries to make the transfer of the collection legally.

Interested in Working With Us?

If you need any help regarding your estate or other legal matters please reach out to us directly here and schedule a call with one of our paralegals on our scheduling page here. 

As a blog exclusive, we also have some free estate planning resources for you! View our life planning guide and our estate planning checklist below to either begin your estate planning or check to be sure you're up-to-date on your documents.