As I posted back on January 4, based on the summary issued by Justice, new rule 41F (published in the Federal Register today and thus effective July 13, 2016) will hit the gun trust mills hard but gun trusts are still the smart way to hold all guns and this is not likely to affect the estate planning I typically engage in. Gun trusts are still useful in preventing accidental felonies; are the only way to effectively carry on the firearm legacy; and possibly may assist in avoiding or delaying the effect of future gun bans (federal or state).
Dates: This rule is effective July 13, 2016. Effective Date: 07/13/2016 Entry Type: Rule Action: Final rule. Document Citation: 81 FR 2657 Page: 2657 -2723 (67 pages) CFR: 27 CFR 479 Agency/Docket Numbers: Docket No. ATF 41F AG Order No. 3608-2016
Source: Federal Register | Machineguns, Destructive Devices and Certain Other Firearms; Background Checks for Responsible Persons of a Trust or Legal Entity With Respect To Making or Transferring a Firearm
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David R. Duringer, JD, LL.M, is a concealed firearm instructor and tax lawyer specializing in business and estate planning. He is managing shareholder at Protective Law Corporation, serving Southern California from its Laguna Hills (Orange County) headquarters and a satellite office in Coronado (San Diego County).
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