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This program will examine pertinent aspects of the National Firearms Act (NFA), explain how to stay compliant with the NFA, and elaborate on how to develop fully-compliant gun trusts. Various NFA items can be owned by trusts and business entities, in addition to individuals. In fact, the number of applications by trusts and entities that are not dealers went from 840 in 2000 to 40,700 in 2012. And to meet this rising demand there are a number of cheap trusts currently available. However, many of these cheap trusts have major drafting errors that in some cases require trustees to violate the law, subjecting them to potential prosecution. The presenters on today’s program will show attendees how to avoid these traps and stay compliant.
•Learn that it is illegal to transfer an NFA item until an application (Form 4) has been submitted and approved, and a transfer tax paid.
•Learn how an NFA trust allows any of the trustees to lawfully possess NFA items.
•Understand that an NFA trust eliminates the normal requirement for a transferee to obtain approval of the chief local law enforcement officer (CLEO).
•Appreciate that applications by a trust are processed faster than applications by individuals.
•Understand what composes a suitable fee for drafting an NFA trust, considering the amount of time it takes to confer with the client and do the job right, and the stakes involved.
•Be informed that there is a proposed regulation (41P) that would require all applications to be signed by the CLEO, and all "responsible persons" (including trustees) to submit fingerprints and photos with each transfer application.
Who Would Benefit Most From Attending This Event?
Lawyers, CPAs, and financial advisors.
Mr. Blattmachr is Director of Estate Planning for the Alaska Trust Company and co-developer of Wealth Transfer Planning, a computerized system for lawyer offering document assembly for Wills and other document and specific client advice using artificial intelligence. Mr. Blattmachr brings over 35 years of experience in trusts and estates law. He is a retired member of Milbank Tweed Hadley & McCloy, LLP, and the Alaska, California and New York Bars. Mr. Blattmachr has been recognized as one of the country’s most creative trusts and estates lawyers. He writes and lectures extensively on estate and trust taxation and charitable giving and has authored or co-authored seven books and over 500 articles on estate planning topics.
Mr. Blattmachr has served as a lecturer-in-law of the Columbia University School of Law and as an Adjunct Professor of Law at New York University Law School in its Masters in Tax Program (LLM). He is a former chairperson of the Trusts & Estates Law Section of several committees of the New York State Bar Association and the American Bar Association. Mr. Blattmachr is a Fellow and a former Regent of the American College of Trust and Estate Counsel and past chair of its Estate and Gift Tax Committee. Among professional activities, which are too numerous to list, Mr. Blattmachr has served as an Advisor on The American Law Institute, Restatement of the Law, Trusts 3rd; and as a Fellow and Director of The New York Bar Foundation and as a Fellow of the American Bar Foundation.
Lee-ford is an Academic Fellow of the American College of Trust and Estate Counsel and is the Treasurer of the American Association of Law Schools’ Trusts & Estates Division. In addition, Lee-ford serves as Vice Chair of the ABA RPTE Law Section’s Outreach Committee as well as a Vice Chair of a committee for the Non-Tax Estate Planning Considerations Group. Before joining UF College of Law in 2005, Lee-ford spent eight years in the New York City trusts and estates departments of Davis, Polk & Wardwell and Milbank, Tweed. Lee-ford’s strong commitment to students and the practice of law has helped earn him Professor of the Year for the academic years 2008/2009; 2009/2010; 2010/2011; 2011/2012 and 2012/2013. Lee-ford is a frequent lecturer across the country on various estate planning issues, including presentations for the ABA’s RPTE Law Section’s annual meetings, the Heckerling Institute on Estate Planning and the Notre Dame Tax and Estate Planning Institute.
Sean is an attorney in private practice. He has served as general counsel for two congressional campaigns, and as National Corporate Counsel for American Mensa. He spoke at the 2003 and 2004 State Bar Firearms Law Seminars, and served as Course Director of the 2012 and 2013 Seminars. He is the General Counsel for the Texas State Rifle Association. He is a mediator for civil, family law, and child protective cases, a member of the American Arbitration Association's Panel of Mediators, and an arbitrator for the Better Business Bureau and AAA. During law school he served as an appellate advocacy instructor, and he previously served as a college instructor in business law.
Mr. Healy is also a concealed handgun instructor, an NRA-Certified Instructor and Training Counselor, with certifications in Pistol, Rifle, and Shotgun; Muzzleloading Pistol, Rifle, and Shotgun; Metallic Cartridge Reloading and Shotshell Reloading; Home Firearms Safety; and Personal Protection in the Home. He is a Chief Range Safety Officer. He is a nationally-trained instructor trainer for Texas 4-H Shooting Sports, and is qualified as a force-on-force instructor.
Speeches and Publications: Mr. Healy testified before a Senate committee as the expert witness for NRA and TSRA regarding House Bill 823, the predecessor to the Motorist Protection Act. He now serves as Election Volunteer Coordinator for the National Rifle Association Institute for Legislative Action, covering Texas Congressional District 1. He has given numerous speeches, continuing legal education presentations to judges and lawyers, and televised interviews on firearms matters and other subjects, including an extensive interview that aired on CNN.
Each year Mr. Gassman publishes numerous articles in publications such as BNA Tax & Accounting, Estate Planning, Trusts and Estates and The Thursday Report, and will be moderating a new Webinar series for Bloomberg BNA on Creative and Practical Planning in 2016 that will feature many of the leading thinkers in our professional community. Mr. Gassman is a member of the Advisory Board for the Annual Notre Dame Tax and Estate Planning Institute, which takes place on September 17 and 18, 2015 in South Bend, Indiana and will speak this year with a panel on structuring and evaluating life insurance policies. Mr. Gassman has authored a number of books, including Gasman & Markahm on Florida and Federal Asset Protection Law and Eight Steps to a Proper Florida Trust and Estate Plan.
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