Do you have an extensive firearm collection that you would like to leave to your beneficiaries after you are gone? A collection like that can be very valuable and a great family heirloom. There are some very strict laws that govern who can and who cannot have firearms. While these laws vary greatly from state to state, here are some things to keep in mind when putting firearms into a will.

Are your Beneficiaries Restricted?

There are some federal laws that prohibit certain people from owning a firearm. This group of people include people convicted of felonies, drug trafficking, some forms of mental illness or domestic violence. Also included are dishonorably discharged veterans and anyone who has denounced their US citizenship. No matter how far in the past these conditions may have existed, they may still disqualify them from gun ownership. Make sure that the people you are leaving your collection to are able to receive it.

You May put your Executor at Risk

The National Firearms Act (NFA) has very strict rules that govern possession and transfer of ownership of firearms. If you instruct your executor to transfer or bequeath firearms to someone who is ineligible, or even a firearm that is ineligible, you may be putting them at risk to criminal and civil penalties. You must be sure that when you put firearms into a will or estate plan that you are doing so legally.

Contact Stano Law group for questions on transferring ownership of firearms in a Will or estate plan.