Interested in training for your team? Click here to learn more

Firearms in Estate Administration: Legal Issues, Executor Liability, Transferring Title I and II Guns, Penalties

Understanding Gun Legal Designations, In-State and Out-of-State Transfers, Use of Gun Trusts

A live 90-minute CLE video webinar with interactive Q&A

This program is included with the Strafford CLE Pass. Click for more information.
This program is included with the Strafford All-Access Pass. Click for more information.

Thursday, July 11, 2024

1:00pm-2:30pm EDT, 10:00am-11:30am PDT

(Alert: Event date has changed from 1/16/2024!)

or call 1-800-926-7926

This CLE course will guide estate planners and administrators on managing the legal challenges of firearms in estate and trust administration. The panel will discuss federal gun laws and firearm designations, issues for beneficiaries inheriting guns, in-state and out-of-state transfers, and legal ownership. The panel will also review the use of trusts and other entities to transfer guns legally and best practices to avoid mishaps in the administration of estates or trusts holding firearms.

Description

The administration of an estate holding firearms can cause increased expenses, fees, taxes, and potential liability if mishandled. Managing guns within an estate requires an in-depth knowledge of various federal and state regulations to avoid excessive fines and criminal liability.

The National Firearms Act encompasses strict prohibitions and restrictions on the transfer of certain firearms. Prohibited possession can be actual or constructive, with zero tolerance for inadequate processes in the acquisition. Also, state laws will apply to transfers or sales of firearms within their jurisdictions. Compliance with federal and state laws becomes more complicated if there is an out-of-state transfer or sale of a gun.

Estate planners and executors must be mindful that some beneficiaries may be ineligible to receive firearms and consider alternative methods to align with a client's intent, such as naming alternate recipients or creating a gun trust. Trusts can legally hold firearms, allow a trustee to lawfully possess firearms, and minimize administration issues regarding the transfer or sale of firearms during probate.

Listen as our panel discusses the classification, ownership, and transfer rules applicable to firearms, the creation and use of gun trusts, and other planning methods to ensure the proper administration of an estate holding firearms.

READ MORE

Outline

  1. Firearm classification, ownership, and transfer rules
    1. Federal and state gun laws
    2. Title I vs. Title II firearms
    3. In-state and out-of-state transfers
  2. Handling the estate administration of firearms
    1. Critical considerations for gifts and bequests
    2. Valuation
    3. Legal ownership
    4. Potential penalties and liability
  3. Gun trusts
    1. Key provisions
    2. Liability issues
    3. Sale or transfer of estate-held firearms
  4. Best practices for estate planners and administrators

Benefits

The panel will review these and other key issues:

  • The impact of federal and state gun laws on estate administration
  • Valuation issues for firearms and processes to overcome them
  • Transferring or selling Title I vs. Title II firearms
  • In-state vs. out-of-state transfer processes and considerations
  • Handling the estate administration of firearms outside of a trust
  • Creating gun trusts and critical provisions

Faculty

Pierce, John
John Pierce

Attorney
The Law Office of John Pierce

Mr. Pierce is the serving Chair of the American Bar Association Second Amendment Civil Rights Litigation Subcommittee...  |  Read More

Taire, Jammie
Jammie Smith Taire

Founding Partner
Perimeter Law Group

Ms. Taire offers over 20 years of experience! In addition to managing SmithTaire Legal, LLC, she serves as a...  |  Read More

Attend on July 11

Cannot Attend July 11?

You may pre-order a recording to listen at your convenience. Recordings are available 48 hours after the webinar. Strafford will process CLE credit for one person on each recording. All formats include course handouts.

To find out which recorded format will provide the best CLE option, select your state:

CLE On-Demand Video

Download