Estate Planning News

Adminstrative Law subcommittee to discuss legislation that grants immunity to gun makers

WASHINGTON, March 14 /U.S. Newswire/ -- A week after the Government Accountability Office released a report exposing a loophole in the law that allows terrorism suspects to easily obtain firearms, Congress is, of course, wasting no time in acting to ensure that not only are terrorists safe from scrutiny, but that all gun sellers are shielded from scrutiny as well.

As surprising as it may seem in the light of all the public attention on the terrorism report, the House Judiciary Committee's Subcommittee on Commercial and Administrative Law will hold a hearing Tuesday, March 15 at 10 a.m. (in Room 2141 of the Rayburn House Office Building, Independence Avenue and South Capitol Streets SW, Washington, D.C.) on legislation that would grant unprecedented immunity from civil litigation to all gun dealers and manufacturers, even in cases of obvious negligence.

"What is the response of the United States Congress to clear and present threats to our national safety and security? Is it to move quickly to strengthen the Brady background check system to stop terrorist suspects from buying guns? No. It is to hold hearings on a bill that would protect from legal accountability the most reckless gun sellers in America," said Dennis Henigan, director of the Legal Action Project of the Brady Center to Prevent Gun Violence. Henigan will testify at the hearing Tuesday.

Also on Tuesday, in 16 cities across the nation including Washington, D.C., members of the Million Mom March and local gun control activists will join together to ring bells 82 times in remembrance of the number of people killed every day in this country by gun violence and in an effort to convince Congress to reject the legislation (H.R. 800 and S. 397) that would deprive gun victims of their legal rights.

"This legislation is an insult to victims of gun violence and their families," said Marsha McCartney, president of the Texas Million Mom March Chapters and national spokesperson. "A small number of gun sellers are reckless, and the damage they do in supplying criminals with guns is devastating. Congress needs to stand with gun victims and reject this special interest giveaway."

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	Did You Know?
	A "Family Limited Partnership" can be used to own and manage your property In a similar manner to a Trust, but allowing additional tax planning techniques to be employed. Family Limited Partnerships are typically used for those who have large estates and thus have a need for specialized estate planning in order to minimize federal and state estate/death/inheritance taxes as well as provide elements of asset protection.