An Illinois Lawyer Handling Estate Planning for Firearms Enthusiasts
Kane and Du Page counties gun owners have transfer options
Serious firearms collectors and small business owners who have amassed a large number of weapons deserve to take pride in their work. However, careful planning is necessary to deliver them to their intended heirs. Without it, their estates’ executors could be forced to let the government confiscate them.
But there are preventative measures you can take. The Law Offices of Kenneth L. Block is committed to finding solutions for the estate planning needs of enthusiasts and industry professionals. Attorney Block is a Second Amendment supporter who has performed pro bono work for the Illinois State Rifle Association. With his assistance, your collection can safely reach your beneficiaries.
What is a gun trust?
A trust is a device typically used for estate planning. Its creator, or settlor, turns property over to a trustee, an individual or business to oversee the property for the benefit of a third party. In recent years, trusts for gun collections have become particularly useful to firearms owners who desire to pass their collections to heirs who may not yet be old enough or otherwise legally capable of owning firearms. It is a useful method for those who want to pass on a gun collection to heirs or successors without running afoul of firearms laws. Heirs who cannot legally possess firearms will forfeit them to the state without a method of transfer such as a gun trust. However, there is a large amount of misinformation circulating on the costs and requirements of gun trusts. Before deciding what is right for you, contact the Law Offices of Kenneth L. Block for more information on the benefits and drawbacks of a gun trust in Illinois.
What kinds of other issues arise during the probate process?
The probate process begins when an individual dies and a probate court oversees the distribution of all the individual’s assets to the next of kin or other heirs. All too often, there is no plan in place for how that property is to be distributed, and it is divided by a system predetermined by law. Because of the unique and time-consuming nature of the licensing process for firearms, there are a number of problems that can surface during probate, including:
- Firearms and weapons in the estate without an estate plan
- Firearms and weapons inherited by heirs without a proper permit
- Registered and unregistered assault weapons in a decedent’s estate
- Beneficiaries who are prohibited from possessing firearms
- Valuation of firearms in a decedent’s estate
The Law Offices of Kenneth L. Block consults with executors and attorneys on firearms while an estate is being readied for probate.
Contact the Law Offices of Kenneth L. Block today for a free initial consultation about estate planning solutions for your gun collection
Do not let arbitrary rules and regulations interfere with the transfer of your collection to its rightful beneficiary. Contact the Law Offices of Kenneth Block at 312.600.4032 or online to discuss estate planning options that are right for you. Kenneth L. Block’s offices serve Cook County and the collar counties. The firm offers convenient evening and weekend hours and is conveniently located near Chicago O’Hare International Airport.