What to Know About New ATF Rules Affecting Gun Trusts

Gun trusts are a very effective method of estate planning for gun owners. There are very restrictive laws that make it difficult to transfer guns either during life or at death without gun trusts. New ATF rules just went into effect on July 13 addressing gun trusts. While gun trusts will remain an effective estate planning tool, the new rules now call for extra care to be taken. A recent article in Forbes goes into more detail.

The article begins: “Gun trusts were used primarily to bypass the rule that individuals needed the sign-off of their local police chief to buy NFA firearms like a short barrel shotgun or a silencer. But as of today, under new ATF rules, the same identification and background check requirements that apply to individuals now apply equally to trusts and other legal entities applying to make or transfer an NFA firearm. The new rules are a victory for gun control advocates, have one big concession for gun owners (law enforcement sign-off has been replaced with notification), and include new estate provisions for when a gun owner dies …” Click here for the full article.

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Written by Legacy Planning Law Group

Legacy Planning Law Group is dedicated to working with individuals and families to help protect the assets they have built throughout their life, and make everything simpler for families who have lost a loved one. We help thoughtful people achieve the peace of mind that comes with planning their personal legacy and passing on family harmony.