In recent weeks I’ve had a lot of people asking me what they can do to protect their Tactical Rifles (what Sen. Feinstein and her cronies call an “assault weapon”) and high-capacity magazines from eventual seizure.
The proposed Assault Weapons Ban of 2013, as it is currently written, “bans the sale, transfer, manufacturing and importation” of a host of different firearms, individual features of firearms, and magazines that are “capable of accepting more than 10 rounds.”
This means that upon your death or incapacitation, you would be prohibited from passing on to your children or beneficiaries any firearm that meets these criteria and would forfeit them to seizure by the BATFE.
If this legislation passes, we can be certain that there will be future proposals which will push for even more extensive and ridiculous restrictions and prohibitions. Heck, if I lived in New York right now, almost every magazine for every semi-automatic pistol I own (with the exception of my 7-round 1911 mags) would already be banned.
So what can you do to protect the firearms you own today from seizure upon your death or incapacitation?
The answer is a Revocable Living Trust.
In a nutshell, a Revocable Living Trust is a legal entity, created by you, to which you would transfer ownership of your firearms and magazines (or any other assets you wish) and which is accessible by a list of beneficiaries. After the transfer the trust would be the legal owner of the firearms. And because the trust remains a legal entity independent of your state of existence, the firearms remain secure.
The creation of a Revocable Living Trust is a method commonly used by those who have purchased National Firearms Act (NFA) items (fully-automatic rifles, suppressors, etc…) to ensure that the items are protected and can be passed down after their death.
No one can guarantee that it will always be legal to hold restricted firearms in trust. But for now, it’s the best option we’ve got. And it’s a “Revocable” Living Trust. This means that, if the Assault Weapons Ban of 2013 is not passed, you can always revoke the trust and reclaim your firearms.
I’ve included a copy of a pretty standard Revocable Living Trust that you can use as a template, should you decide that this is the best course of action to protect your firearms. As I am not qualified to give (nor should this be taken as) legal advice, you would definitely want to contact an attorney to ensure that it meets your needs. If you do choose to use it, you can download it by clicking the “Download” link at the top-left of the document. Every place where information would need to be substituted with your own is represented by 5 red X’s.