What Is A Gun Trust in Oklahoma, And Why Do I Need One?

A gun trust in Oklahoma is a legal document commonly used in estate planning that helps to protect gun owners and their Second Amendment rights. A gun trust facilitates the lawful purchase, possession, and sale of class three weapons. Class three weapons include machine guns, submachine guns, suppressors or silencers, and other destructive devices.

Like many other trusts, a gun trust is a distinct legal entity. Because it is a legal entity on its own, the trust is the owner of the firearms, not an individual. Law enforcement approval is typically not necessary for a gun trust to own a weapon.

Why Use A Gun Trust in Oklahoma?

There are multiple reasons to consider creating a gun trust as part of your estate planning package. In addition to being able to purchase weapons with less red tape and having the ability to own class three weapons, a gun trust can also result in other benefits. A primary benefit of a gun trust is that it will allow you to pass weapons onto your children or other beneficiaries without lengthy legal intervention. Amoung other benefits this trust takes the guns out of your probate estate.  

When establishing a gun trust, you will name the person in charge of the trust. This person, called a trustee or sometimes called an executor, has the necessary authority to deal with and possess the weapons that make up the trust’s assets. Also, because weapons can be very valuable, you can use a gun trust to protect your weapons from creditors. You will also be able to lay out how your weapons should be managed after you pass away.

Finally, it is worth noting that gun legislation is constantly evolving at the state and federal levels. Often, if a gun trust has been established before the implementation of new legislation, the legislation may not affect the gun trust or the weapons owned by the trust. As a result, you may be able to use a gun trust to protect your weapons from newly enacted legal restrictions.

Risks Of Not Having A Gun Trust

All of the above benefits of having a gun trust in Oklahoma are great, but could you actually get in trouble for not classifying your weapons as the assets of a gun trust? The answer is yes. If you own weapons that you had to go through a background check to obtain and you give these guns to your children upon your passing, but they have not had the proper background checks to be able to own the weapons, they may be subjected to fines and jail time. They could ultimately be sentenced to pay fines up to $10,000 and a term of imprisonment of up to ten years.

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Tulsa Estate Planning Attorneys Near You

If you want to set up a gun trust in Oklahoma, don’t be fooled by the online do-it-yourself gun trust resources. These documents may not be legally accurate or ultimately enforceable. Contact the professional estate planning and wills and trust attorneys at Kania Law Office to be sure that your gun trust is valid and will do exactly what you need it to do. Call our offices at 918-743-2233 or visit us online for more information.