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

Recording of a 90-minute CLE webinar with Q&A


Conducted on Tuesday, August 20, 2019

Recorded event now available

or call 1-800-926-7926
Program Materials

This CLE webinar 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, use of trusts and other entities to legally transfer guns, 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 a myriad of federal and state regulations to adhere to in order to avoid excessive fines and criminal liability.

The National Firearms Act (NFA) 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. If there is an out-of-state transfer or sale of a gun, compliance with federal and state laws becomes more complicated.

Estate planners and executors must be mindful of the possibility 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 by creating a gun trust. Trusts can legally hold the firearms and allows a trustee to lawfully possess the 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, and the creation and use of guns trusts and other planning methods to ensure the proper administration of an estate holding firearms.

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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. Key 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

Bergstrom, Matthew
Matthew J. Bergstrom

Managing Attorney
Arsenal Attorneys

Mr. Bergstrom has 20 years of combined legal and business experience helping clients pursue opportunities and reduce...  |  Read More

Clark, Cynthia
Cynthia M. (Cindy) Clark, JD, CFP

Atty
Law Offices of Cynthia M. Clark

Ms. Clark specializes in a variety of specialty trusts in the state of Florida which include gun trusts, IRA trusts,...  |  Read More

Pierce, John
John Pierce

Atty
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

Other Formats
— Anytime, Anywhere

Strafford will process CLE credit for one person on each recording. All formats include program handouts. To find out which recorded format will provide the best CLE option, select your state:

CLE On-Demand Video

48 hours after event

$297

Download

48 hours after event

$297

DVD

10 business days after event

$297 + $19.45 S&H