Firearms Are Hard To Inherit
Every single one of your assets can go to the beneficiaries of your choosing. You can ensure that they do so by developing a will that properly clarifies your wishes.
Even though the above is true, firearms can be hard to inherit. Going over why this is the case, and speaking with an estate planning lawyer at Millhorn Elder Law Planning Group will help you satisfy your estate planning wishes.
What Does It Mean For An Asset To Be “Hard To Inherit?”
A “hard to inherit” asset is an asset that your beneficiaries may have a hard time receiving. This could be due to the nature of this asset or the laws that your beneficiaries must abide by regarding this asset; among other possibilities.
Just as an example, if you would like to give your daughter a knife collection, you can do so. But, if your daughter lives in a state where some of those knives are illegal, it will be very hard for her to inherit these assets.
On top of the above, certain assets are hard to inherit for a very different reason: your beneficiary does not want them or, alternatively, the financial strain they are expected to bring.
Why Are Firearms Hard To Inherit?
The state of Florida makes it relatively easy for you to give firearms to your beneficiaries. All you need is a proper will and, if you want to bypass probate, a trust that satisfies your estate planning goals.
Even though the state of Florida makes it relatively easy for your beneficiaries to inherit your firearms, other states have very different laws regarding firearm ownership.
Just as an example, Illinois does not let people purchase assault weapons. This is in contrast to the state of Florida, in which AR-15 rifles – among others – can be purchased with relative ease.
You can give your beneficiary a firearm. But, if they live in a place – like Illinois, for example – where those firearms are subject to certain restrictions, they may have a very difficult time actually getting – assuming they can, at all.
Outside of the legal complexities that come with firearm ownership, many people have mixed feelings about firearms. You may want to speak with your beneficiaries about giving them a firearm, before you commit to it.
How Can You Make It Easier For Your Beneficiaries To Inherit Your Firearms?
You can make it easier for your beneficiaries to inherit your firearms by doing the following:
- Developing a trust that helps your firearms – and all of your other assets – bypass the probate process.
- Make sure your beneficiaries live where they can legally own/obtain the firearms you wish to give them.
- Speak with your beneficiaries and make sure they actually want the firearms you wish to give them.
Every single one of the above will make it easier for your beneficiaries to inherit your firearms.
Speak With A Florida Estate Planning Lawyer Today
If you would like to develop an estate plan, you must work with someone who can help. Speak with a Florida estate planning lawyer at Millhorn Elder Law Planning Group today and we will help you develop the estate plan you want.
Sources:
law.cornell.edu/wex/trust
isp.illinois.gov/Home/AssaultWeapons
