From time to time, it’s good to review why having a complete, up-to-date estate plan is so important. In addition to confirming our own actions, it can provide us with valuable information to pass along to friends and family who, for whatever reasons, have yet to act. So, here are five common estate planning mistakes to avoid. 1. Not having an estate plan. Every state has laws for distributing the property of someone who dies without an estate plan—but not very many people would be pleased with the results. State laws…Read More
A gun trust is a special type of trust that is designed to hold all of your firearms and firearms-related accessories. Gun trusts make it much easier for your loved ones to handle your firearms should you become incapacitated or die, they boost your ability to share and transfer NFA firearms, and they help ensure all state and federal laws are followed. Gun trusts have become the planning tool for gun owners whose collections include NFA firearms. One of the primary reasons is the ability to share possession of the…Read More
What would happen if your grandfather passed away, leaving behind his collection of firearms? What if his collection included a German rifle he brought back from World War II … an MG 42, still fully automatic and in its original condition, taken by him off of a German soldier and brought back as a souvenir? Is it legal? Can you accept it when your family says it should go to you? Sometimes, gun owners die without preparing any kind of estate planning documents. Other times, gun owners may prepare nothing…Read More
When a gun owner dies and has not prepared a gun trust to direct how the firearms should be handled, it is imperative that the person handling the estate (Idaho probate or Oregon probate) understands the many rules that apply to the transfer and possession of firearms. Breaking these rules, even accidentally, is often a felony. A well-drafted Idaho gun trust will assist the trustee with the following issues by giving much more direction that a personal representative (executor or executrix) will receive in a probate proceeding. Keep in mind…Read More
There’s only one thing better than buying a new gun: Making your own custom firearm at home. Stick to Alex Kincaid’s “Three Rules for Staying Out of Prison” below, and you stand a good chance of not violating one of the many gun-control laws that can affect well-intentioned, law-abiding Americans. What Are The Three Rules? Be Selfish: Build firearms for your personal use Know what you’re buying Know what you’re making 1. Build for Your Personal Use The ATF has published an opinion that “Firearms may be lawfully made by…Read More
For too long, Americans have been taught to rely on the government for their needs: Social security will pay your retirement. The Affordable Care Act will take care of your medical expenses. Medicaid will pay for your nursing home. The court will handle your affairs if you are incapacitated or when you die. Astute estate planning attorneys know that the government-controlled court system is not the answer to their client’s legal problems any more than social security is the answer for living expenses during retirement. When we explain the difference…Read More
As expected, Obama made a push for more gun control during his speech following the Orlando nightclub shooting. He failed, however, to mention that the Orlando night club hosting the massacre was a gun free zone due to Florida’s gun control laws. All but approximately 1% of mass shootings since 1950 have been in gun free zones. Terrorists and criminals attack where there are no law-abiding American citizens with guns to fight back. California, Paris, San Bernardino, this nightclub, were all specifically selected because there would be little resistance until…Read More
By Alexandria Kincaid, Attorney What does the Second Amendment actually protect? Most gun owners believe the phrase “shall not be infringed” is pretty clear. However, some judges find it confusing. Today, we saw the country’s largest, busiest, and ordinarily liberal Circuit Court (the Ninth Circuit Court of Appeals) change its mind and overturn its own, prior decision about whether the Second Amendment protects our right to carry a firearm outside our homes. Peruta v. Cty. of San Diego. The facts: Gun owners know that California has some of the toughest gun…Read More
One day, you will leave your business. You will exit either voluntarily (through sale or retirement) or involuntarily (through death, disability, bankruptcy, liquidation, or fire sale). “Exit planning” is the topic for our next three blog posts. As a business owner, you must have a good understanding of each of the three key elements to every successful exit plan if you want to control the process of exiting your business. The Three Key Elements to a Successful Exit Plan While success is defined differently for each business owner, most clients…Read More
