ATF and trust(s)

ATF has released their proposed rule in ~~sticking it to bitter clingers~~ err trusts.

Posted in ATF on September 9th, 2013 by SayUncle | RSS 2.0 |

Will Brown Says:
September 11th, 2013 at 5:15 am
Looking at the proposed change regarding “responsible person”, all trustees would have to clear the CLEO hurdle, but only those beneficiaries who have the right to use or dispose of trust property would also need to jump through that hoop. Using the trust as a means to secure your NFA property for your minor children/heirs would still seem to be a viable option (until the BATFE changes its interpretation again, of course).

I’m not sure this part of the proposed rule change will survive legal challenge since trusts are regulated by the laws of the state within which it is established; this rule would seem to exercise a federal authority that doesn’t exist in law. Yes, yes, quelle surprise and all that; the point being that all doesn’t seem quite as lost as the common assumption would have it.

Remember, I do this to entertain me, not you.

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