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Specialized Firearm Trusts

Gain an understanding of federal firearms laws and how to design a firearm trust to benefit your client.

Gun laws in the Unites States are promulgated through the Second Amendment of the United States Constitution establishing the right to keep and bear arms and various federal and state statutes, many of which are confusing or conflict with respect to possession and transfer of firearms. Federal gun laws are enforced by the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF). Most states and some local jurisdictions have additionally imposed their own firearms restrictions. Unwary executors of estates, trustees of trusts and their advisors can easily run afoul of the myriad of rules and regulations and commit unintentional felonies if a firearm is transferred improperly or to an improper transferee. There are substantial fines and jail time associated with these felonies. This topic is designed to give anyone involved in estate planning a brief overview of federal firearm laws and potential penalties related to improper transfers and possession of firearms. The topic will also provide the advisor with an understanding of how a properly designed gun trust can help their clients avoid inadvertently violating these laws and how the advisor can benefit from understanding these complex laws.

Runtime: 87 minutes
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

A Perspective on Gun Law in the U.S.

  • Time Line
  • The Gun Control Act of 1968
  • The National Firearms Act
  • The Bureau of Alcohol, Tobacco, Firearms and Explosives

Possession and Transfer of NFA and GCA Firearms

  • Definitions
  • Prohibited Persons
  • Penalties for Improper Possession and Transfer
  • Update on ATF Rule 41F
  • Example State Law

Gun Trusts

  • Basic Trust Concepts
  • Reason Gun Trusts Are in Demand
  • What Makes a Trust a Gun Trust?
  • Alternative Entities
  • Transfer Analysis
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on May 24, 2016.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

  • AK CLE 1.5
     
  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • GA CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MO CLE 1.8
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NM CLE 1.5
     
  • NV CLE 1.5
     
  • NY CLE 1.5 including Areas of Professional Practice 1.5
     
  • UT CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

C. Dennis Brislawn, Jr., J.D.

Oseran Hahn Spring Straight & Watts, P.S.

  • Principal attorney in The Private Client Law Group at Oseran Hahn Spring Straight & Watts, P.S.
  • Principal member, WealthCounsel, LLC
  • Practice emphasizes all aspects of estate, business and asset protection planning
  • Creator of the GunDocx® Trust System and numerous other systems distributed to attorneys nationally
  • Nationally-known presenter to attorneys and other planning professionals
  • USAR retired, Army Airborne Ranger, NRA Benefactor, Firearms Instructor/Trainer
  • Can be contacted at [email protected], www.ohswlaw.com or www.nwgunlawgroup.com

Shawn J. Estep, J.D., LL.M. Tax

The Estep Law Firm, LLC

  • Principal attorney with The Estep Law Firm, LLC
  • Practice emphasizes all aspects of estate planning, asset protection and elder law
  • Conducts regular seminars and workshops for financial professionals, CPAs and trust officers on a wide range of estate planning subjects
  • Member of Missouri Bar, WealthCounsel LLC, Elder Counsel LLC, National Association of Elder Law Attorneys, National Rifle Association and listed as an NRA estate planning partner
  • J.D. degree, Saint Louis University; LL.M. degree in tax, Washington University in St. Louis; B.S. degree in electrical engineering, University of Missouri Columbia
  • Can be contacted at [email protected] or www.esteplawfirm.com
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 399096
Published 2016
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