Precious Metals & Estate Plans FAQ
By Richard Keyt and Richard C. Keyt, Arizona Estate Planning Attorneys
The Keyts have 294 5-star Google reviews and 407 5-star Google, Facebook & Birdeye reviews. They want to prepare a custom estate plan for Arizona residents that protects their most valuable assets – their loved ones. Call, email, or book a free office, phone or Zoom video meeting.
Arizona Firearms & Estate Planning FAQs
Can I leave my gold and silver to my family in my will?
Yes, but a will alone forces your family through Arizona's probate process — a court-supervised proceeding that is slow, expensive, and public. A revocable living trust lets your gold and silver pass directly to your chosen beneficiaries without probate.
How do I put gold and silver into a revocable living trust?
Unlike real estate or bank accounts, physical precious metals have no title document. You transfer them to your trust by executing a written assignment of personal property — a document that clearly identifies your assets and names the trust as the owner. You should store a copy of the assignment with your trust binder and note the location of the metals in your letter of instruction.
Does a beneficiary have to pay the $200 NFA tax stamp to inherit a suppressor or machine gun?
No. When an NFA item is inherited, the transfer is tax-exempt. The executor or trustee must file ATF Form 5 (Application for Tax Exempt Transfer and Registration) and receive ATF approval before physically transferring the item to the beneficiary. The $200 transfer tax does not apply to bona fide inheritances.
What happens to my gold and silver if I die without a will or trust in Arizona?
Your assets pass under Arizona's intestate succession laws — meaning the state decides who inherits, in what proportions, and on what timeline. The process goes through probate court and your wishes play no role. If no family can be located, the assets could eventually escheat (pass) to the state.
The State of Arizona has a law that specifies who inherits the assets of an Arizona resident who dies without a will or a trust. This law may cause your assets to be inherited by the wrong person or people if you don't have a will or a trust. To learn who will inherit your assets if you die without a will or a trust see my article called “Who Inherits Your Property If You Die without a Will or a Trust” and take my short online quiz called “Who Inherits Your Property.” If the wrong person or people would inherit your assets, you need to hire us to prepare a will or a trust that leaves your assets to the person or people you want to inherit the assets, not to the people Arizona gives your property to.
Can I protect the gold and silver my children inherit from their creditors or a divorce?
Yes. A Beneficiary-Controlled Asset-Protected Trust (BCAPT) — a special irrevocable trust built into your estate plan — can hold your child's inherited precious metals in a structure that protects those assets from creditors, lawsuits, and a divorcing spouse, while still allowing your child to use and benefit from the assets.
Do I need to list every single coin in my assignment of personal property?
Not necessarily. A well-drafted assignment of personal property can use broad language that covers all precious metals you own without requiring an item-by-item list in the legal document itself. However, you should maintain a detailed inventory separately — both for your trustee's benefit and to ensure accurate valuation of the estate.
What if my gold or silver is in a precious metals IRA?
Precious metals held in an IRA are owned by the IRA, not by you directly. They pass by beneficiary designation, not through your trust. Make sure your IRA beneficiary designations are current and aligned with your overall estate plan. If you also own physical metals outside the IRA, those are handled separately through your trust's assignment of personal property.
How much does a KEYTLaw Estate Plan Cost?
We charge a flat fee for estate plans, so you know exactly what you will pay before we begin. The fee depends on whether the plan is for one person or a married couple, and whether you add optional protections like BCAPTs. Schedule a free office, phone or Zoom video meeting and we will give you a specific quote based on your situation.
DISCLAIMER: This article is provided for general informational purposes only and does not constitute legal advice for any individual case or situation. Reading this article does not create an attorney-client relationship. Estate planning laws change. Please consult a qualified Arizona attorney for advice specific to your circumstances.
See the Contents of Our Estate Plan
To protect your most valuable assets—your loved ones— read our article that describes the 36 documents and services you will get if you hire us to prepare your comprehensive estate plan with a revocable living trust or watch our video about the documents and services.
Questions? Book a free meeting or call or email one of our Arizona estate planning attorneys. We don't charge to talk to people.
Call or email Richard Keyt, the father
Direct phone: 480-664-7478
Email: [email protected]
Call or email Richard C. Keyt, the son
Direct phone: 480-664-7472
Email: [email protected]