As the end of the year approaches, now is a good time to review and update your estate planning. Here's a checklist we recommend:
Midnight last night brought the end of the comment period for ATF 41P, the Obama Administration's proposal re the use of entities to register firearms regulated by the National Firearms Act (NFA), such as silencers, short barrel rifles, machine guns, etc. Over 9,000 comments were posted, and we haven't yet to see any of them supporting the proposal.
Want to transfer an NFA firearm? If you want to buy a silencer, short barrel rifle or shotgun, machine gun or other legally transferable firearms regulated by the National Firearm Act ('NFA'), you'll need to complete ATF Form 5320.4, otherwise known as the 'Form 4'.
After collecting more than 9,000 public comments during a 90 day period ending December 9, the US Government updated the status of BATFE's proposed rule on the transfer of NFA firearms to 'legal entities', such as trusts and corporations (docket number ATF 41P). The 'Unified Agenda Statement' maintained by the Office of Management and Budget (OMB) must announce an estimated date of a 'Final Action' on this proposal; however such forecasts often prove unreliable as proposals are often changed, dropped, delayed, or sped up.
For now, the government has planned a 'Final Action' of "06/00/2014." What does this mean?
Arsenal Attorneys is committed to answering your questions about estate planning, firearms, business law, litigation, and criminal defense issues.
We'll gladly discuss your case with you at your convenience. Contact us today to schedule an appointment.