Thursday, April 24, 2014
The American Bar Association is presenting a live webinar entitled, NFA Gun Trusts: Protecting Your Client’s Firearms for the Future Under New and Pending Regulations, on Wednesday, May 21, 2014. Provided below is a description of the program:
In recent years gun trusts have come to prominence in estate planning for gun collections and as a means to comply with federal laws on select firearms. The National Firearms Act (NFA) was passed in 1934 with amendments in 1968 and 1986, and Title 2 of the NFA regulates silencers, machine guns, and short-barreled rifles and shotguns, among other firearms, which compose a fast growing segment of the gun market. The NFA has strict requirements and severe penalties making it crucial that those who draft these instruments understand the NFA regulatory scheme as well as state specific requirements. This CLE program will be a comprehensive discussion of the purpose, design, and use of NFA trusts/gun trusts. Topics will include new and pending regulations concerning NFA firearms and trusts and drafting tips for essential provisions. Also included will be material on what ATF looks for when reviewing these trusts and what provisions should be included regardless of ATF or state law requirements.