Hunting Washington Forum

Equipment & Gear => Guns and Ammo => Topic started by: Alchase on April 24, 2024, 06:15:56 PM

Title: Setting up a trust (firearms in specifics)
Post by: Alchase on April 24, 2024, 06:15:56 PM: I did not want to derail the silencer thread, so i was hoping this one could be used to discuss how setting up a trust could or would be beneficial Firearms owners.
I believe I understand how a trust could definitely help a firearms owner in Washington with the disgusting attack on the 2nd amendment.
Can someone explain the advantages of both in Washington and other states, or people who travel through non-2A friendly states?

Appreciate any information provided!
Title: Re: Setting up a trust (firearms in specifics)
Post by: baldopepper on April 24, 2024, 07:06:49 PM: Personally not sure how that would work. When you set up a trust everything basically becomes owned by the trust. At least as ours is set up. Not sure you could transfer ownership over to a trust. Kinda curious myself as I'm certainly not an expert. I know you can set up a gun trust, but heard it isn't easy and a ton of paperwork involved.
Title: Re: Setting up a trust (firearms in specifics)
Post by: brew on April 24, 2024, 07:15:55 PM: In the limited knowledge I have researching this I think you need to set up an LLC Corp but tagging this
Title: Re: Setting up a trust (firearms in specifics)
Post by: jrebel on April 24, 2024, 07:20:56 PM: Tagging as well.
Title: Re: Setting up a trust (firearms in specifics)
Post by: storyteller on April 24, 2024, 07:22:32 PM: I have not done it but if I was, I would check with William Kirk from Washington Gun Law, he has gun trusts on his page and he has been very informative on gun laws and movements. He seems very solid.
Title: Re: Setting up a trust (firearms in specifics)
Post by: CarbonHunter on April 24, 2024, 07:50:20 PM: Curious if gun trusts are on the liberal target list to do away with? Even if you went to the effort would it be something that could go away in the future making it worthless?
Title: Re: Setting up a trust (firearms in specifics)
Post by: MADMAX on April 24, 2024, 07:56:13 PM: I’m passing my personal property to my children

https://www.washingtongunlaw.com/gun-trusts
Title: Re: Setting up a trust (firearms in specifics)
Post by: Knocker of rocks on April 24, 2024, 08:30:58 PM: Quote from: baldopepper on April 24, 2024, 07:06:49 PM
Personally not sure how that would work. When you set up a trust everything basically becomes owned by the trust. At least as ours is set up. Not sure you could transfer ownership over to a trust. Kinda curious myself as I'm certainly not an expert. I know you can set up a gun trust, but heard it isn't easy and a ton of paperwork involved.

That’s what I’m wondering about too. Google says it’s possible in Washington.

The RCW doesn’t mention it, but they also don’t mention non dealer corp ownership of guns, which given the film industry, would seem to be a thing.
Title: Re: Setting up a trust (firearms in specifics)
Post by: Macs B on April 25, 2024, 08:14:23 AM: There is no legal reason you could not form a trust to hold your firearms. If you have an exceptionally large or valuable collection it would certainly make sense. If your gun collection contains NFA listed firearms it is certainly a good idea to include them in a trust for legal and financial protections. If you are only dealing with common firearms or every day hunting arms I'm not sure I would recommend a trust for that purpose. Your best bet would be to take a complete inventory ad insurance valuation to a reputable attorney who deals with firearms trusts and get an informed opinion.

One question I would ask if you came to me seeking a legal opinion is "What do you hope to accomplish by creating a firearms trust?"
Title: Re: Setting up a trust (firearms in specifics)
Post by: Knocker of rocks on April 25, 2024, 08:26:45 AM: How do you get around the technicality of transferring ownership to a non-person entity, given state and federal law?
Title: Re: Setting up a trust (firearms in specifics)
Post by: Alchase on April 25, 2024, 06:21:33 PM: Quote from: MADMAX on April 24, 2024, 07:56:13 PM
I’m passing my personal property to my children

https://www.washingtongunlaw.com/gun-trusts

Lots of good information in that link thank you.