In these uncertain times, Oklahoma gun owners are increasingly turning to gun trusts to protect their right to keep and bear arms. A gun trust can protect your weapons, help your family care for and distribute them after your passing, and protect your right to own and enjoy your weapons should gun laws change.
What is a Gun Trust in Oklahoma?
In general, a gun trust functions like any other trust under Oklahoma law. A trust is a legal entity, and its terms are outlined in a legal document, usually drafted by a knowledgeable gun trust attorney that is created to take title to one’s firearms. It can be a revocable or non-revocable trust.
Oklahoma law allows that trust in relation to real or personal property may be created for any purpose for which a contract may be made in relation to that property. Okla. Stat. tit. 60 § 175.2. Gun trusts are governed by Oklahoma’s general law concerning trusts. Okla. Stat. tit. 60 §§ 175.1-175.57
These trusts use general contract language and because small mistakes in drafting a trust can invalidate the trust entirely, it is best to have an experienced Oklahoma gun trust lawyer counsel you and draft your gun trust.
Gun trusts vest ownership of firearms in a legal entity controlled by the Trustees of the trust. The gun trust, not an individual, purchases, owns, sells, and otherwise disposes of the firearm. Gun trusts can hold ownership of Title I and Title II weapons. It is important that the proper Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF) forms are filled out and that each firearm is properly transferred to the trust.
A person who is prohibited from owning or possessing a weapon of any kind should not be appointed as the Gun Trust Trustee. This person could face severe penalties and potential jail time.
What Are Title I Firearms?
Title I weapons are common rifles, handguns, and shotguns. These weapons are not automatic. They are the types of firearms usually bought at your local sporting goods store.
What is an NFA Firearm or Title II Firearm?
Title II weapons are those regulated by the National Firearms Act (NFA). These include weapons such as fully automatic rifles, silencers, and other destructive weapons. Gun trusts can also hold tax stamps for your Title II weapons. Gun trusts also make it easier to transfer control of firearms within the trust to another person.
Advantages of a Gun Trust
Many firearm owners purchase and own weapons in their individual names. However, this can create a problem when the gun owner dies. How are the firearms to be handled? What happens if there is no will and any possible beneficiaries are prohibited from owning or possessing a firearm? In some cases, the ATF will confiscate these weapons. A gun trust ensures that the appropriate beneficiary takes possession of your firearms. They can even be written to automatically disqualify those prohibited from owning firearms from taking ownership of guns within the trust. This is important because an unauthorized transfer at death can result in the occurrence of an unintentional felony. Both prison times and fines for this felony are substantial. Consult an experienced gun trust lawyer in Oklahoma to ensure your trust only makes authorized transfers.
Additionally, a gun trust can allow for multiple “owners”. All co-trustees to the gun trust may possess and use the weapons that have been transferred to the trust. This can make it possible for prized firearms to stay within the family. Without a gun trust, your firearms will pass according to the terms of your will, if there is one, or according to Oklahoma’s intestacy laws. This result may not be best for the person receiving the weapons. Additionally, without a trust, your firearms become part of your probate estate. Probates are expensive and often take a long time to complete.
Finally, what happens to your weapons if you should become incompetent at some point in your life? Without a gun trust, those weapons may be confiscated. A gun trust can ensure that your weapons are correctly and safely handled by those you trust.
As a responsible firearms owner, it is important to you that your firearms are handled according to your intentions at your death. Many of these firearms are handed down in families across the generations. A gun trust can make your goals and intentions come to fruition. Consult with an experienced gun trust attorney in Oklahoma today.
Strategy Session with a Gun Trust Attorney
We at the Wirth Law Office are ready to help you. If you would like an initial strategy session with a Tulsa Gun Trust Attorney at Wirth Law Office, call 918-879-1681 or toll-free 1-888-Wirth-Law (1-888-947-8452).
If you prefer written correspondence, you may submit a question through the form at the top right of this page.
