It is a common misconception that you need a bank account for a gun trust. This cannot be further from the truth. In fact, I highly recommend against setting up a bank account for your gun trust. Then, why do we hear so many people speak about bank accounts? Approximately 10 years ago, when gun […]
It is a great idea to put all of your firearms into a gun trust, not just NFA weapons. The reasons being as follows. First, trust property does not go through probate court. What does this mean? Whenever you pass away, whether with or without a will, your estate must be probated. This means an […]
Do I have to engrave the short barrel rifle or suppressor I made? Gun forums are rife with debate on whether you must engrave your trust name, city, and state on a NFA weapon you make. Some non-lawyer industry professionals are even under the impression that you do not need to engrave. This article is […]
ATF 41P Update As most of you are aware, the ATF released a final ruling on 41P January 4, 2016. This final regulation is called 41F. The P stood for proposed, F for final. The implementation date for 41F is July 13, 2016. That means any applications for NFA weapons submitted July 12 are not […]
NFA Lawyers’ Initial Review of Final Ruling ATF 41P The BATFE and Attorney General finalized proposed regulation 41P on January 4, 2016. A link to same can be found at https://www.atf.gov/file/100896/download. As many of you are aware, this regulation impacts gun trusts. This initial review provides an overview of what those key changes are. This […]
How do you execute your gun trust? We have a lot of clients ask, “How do I initiate my gun trust after receiving it from you?” In other words, how do I put the trust into effect? This procedure is called executing the trust. A gun trust becomes valid only after it is properly executed. […]