The Gun Trust Loophole Exposed by Christopher Dorner

Much has happened in the months since I wrote about how you can use a specialized gun trust to safely bequeath firearms to your heirs.

Between Connecticut and Christopher Dorner, the public debate surrounding gun control and the second amendment has truly ignited, and I for one am not stepping into that fire.

Instead, I’m just going to rake the coals.

On Monday, The New York Times ran an article about gun trusts that reviews an important loophole in traditional firearms legislation.

Essentially, you are not required by law to pass a background check, be fingerprinted, or generally be approved by law enforcement if you buy a gun through a trust.  

The late Christopher Dorner, whose manhunt captivated the nation before ending in his death, apparently exploited this rule to obtain a gun and silencers without a background check.

That said, the article wisely notes that few who use gun trusts do so explicitly to circumvent these regulations, and also that many gun stores impose these regulations on prospective buyers anyway.

However, it’s important to be aware of such loopholes in the trusts you create–especially when they’re suddenly on the minds of lawmakers and lobbyists. Expect more developments on this issue as Washington refocuses on the gun debate in coming months.  I’ll keep you posted.

In the meantime, good luck and good hunting.

Randy

__________________________________________

Related articles

The Fisher Law Office is known for its experience in estate planning, probate administration, asset protection, and business development. Annapolis attorney Randall D. Fisher has practiced for over 20 years, maintains the highest peer review rating for ethics (AV Preeminent) by Martindale-Hubbell, and is a sucker for long walks on the fairways.

Find out how to reach Randy via TheFisherLawOffice.com or find him at Facebook.com/FisherLawOffice, on Twitter @thefisherlawoffice, or at LinkedIn.com/in/FisherLawOffice.

Image: Sources longhorndave and mikejmartelli neither approve nor endorse the content of this blog and the Fisher Law Office.

This entry was posted in Estate Planning, Guns, Revocable living Trust and tagged , , , , , , , , , , , . Bookmark the permalink.

10 Responses to The Gun Trust Loophole Exposed by Christopher Dorner

  1. Pingback: The Gun Trust: Estate Planning with the National Firearms Act | Planning for Your Wealth

  2. Pingback: Sequestration: How we got here and what comes next | Planning for Your Wealth

  3. Pingback: Elements of an Effective Business Plan | Planning for Your Wealth

  4. Pingback: New Maryland Slayer’s Law to Disinherit Murderers from Victim’s Estate | Planning for Your Wealth

  5. Pingback: Legacy Lost: The Dwindling Family Inheritance | Planning for Your Wealth

  6. Pingback: Plan your New Year’s resolutions while planning your holidays | Planning for Your Wealth

  7. Pingback: Maryland’s House of Cards may crumble under (state) taxes | Planning for Your Wealth

  8. Pingback: Odenton Town Center Tax Increment Financing District | Planning for Your Wealth

  9. Pingback: Use of LLCs for holding real estate: Pros and Cons | Planning for Your Wealth

Post Your Comment

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s