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July 20, 2010
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 7.8 Million Firearms Applications Approved Last Year126,000 Firearms Applications Rejected

WASHINGTON, D.C. About 1.6 percent of the approximately 7,831,000 applications for firearm transfers or permits were denied by the Federal Bureau of Investigation (FBI) or state or local agencies during 2003, the Justice Department's Bureau of Justice Statistics (BJS) announced today. This continued a decline in the denial rate from 2.4 percent of applicants in 1999. BJS attributed this decline to an increased reluctance among potential purchasers to be subjected to background checks that now encompass an immediate review of many more records from a wide variety of databases.
The firearms applications were made pursuant to the Brady Handgun Violence Prevention Act, which requires criminal history background checks on people who apply to buy any type of firearm from federally licensed dealers.
The Federal Gun Control Act, 18 U.S.C. § 922, prohibits the transfer of a firearm to a person who:
Is under indictment for or has been convicted of a crime punishable by imprisonment for more than one year.
Is a fugitive from justice.

Is an unlawful user or is addicted to any controlled substance. Has been adjudicated as a mental defective or committed to a mental institution. Is an illegal alien or has been admitted to the United States under a nonimmigrant visa.
Was discharged from the U.S. military service under dishonorable conditions. Has renounced U.S. citizenship.
Is subject to a court order restraining him or her from harassing, stalking or threatening an intimate partner or child.
Has been convicted in any court of a felony or misdemeanor crime of domestic violence.

In addition, the statute makes it unlawful for any licensed importer, manufacturer, dealer or collector to transfer a long gun to a person younger than 18 years old or any other type of firearm to a person less than 21 years old.
Since February 29, 1994, when the Brady Act went into effect, through December 31, 2003, more than 53 million plications were checked and approximately 1,102,000 were blocked.

During 2003 half of the denials were made by state and local agencies and half by the FBI From 1999 through 2003, 58 percent of the denials by state and local agencies were for the applicant's felony conviction or indictment, 13 percent for a domestic violence misdemeanor conviction or restraining order, and the remainder for other reasons.

However, 2003 data show that for both state checks and FBI-administered checks, the percentage of application denials for reasons other than a felony conviction history has been growing. For the first time, more than half of all applicants were denied for a misdemeanor domestic violence conviction, for being the subject of a protection order, for a history of mental illness or for another reason. Presale firearm checks entail a search of more than 53 million records held in 14 separate national databases.

About 15 percent of the 790,000 applicants rejected since the Brady Act's full provisions took effect in 1999 appealed their denials. Of these, 35.5 percent have had their denials reversed. This is a denial error rate of approximately 0.1 percent of the 40.8 million checks conducted during that period. At the same time, about 7,200 arrests and 20,000 retrievals from improperly cleared purchasers took place -an error rate of less than 0.1 percent for improperly cleared individuals.

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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.

 


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Latest news about Financial & Estate Planning in Plano and nationwide:

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Estate Planning Terms

 


Today's Terms

Fiduciary

Definition:
A person in whom one places great confidence in and upon whom one relies for his or her integrity, trust, and good faith. A fiduciary has the legal duty to act in the best interest and benefit of another and therefore is held to the very highest legal standards. A trustee is a fiduciary.

Grantor

Definition:
The person who sets up or creates the trust; also called a Settlor, Trust Creator, Trust Maker, or Trustor.

Gain

Definition:
The difference between the Tax Basis (the amount originally paid for property with certain adjustments) and the amount received for the property when it was sold.

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Estate Planning Hot Topics

 
Topics Related to Estate Planning:

  • Trusts
  • Wills
  • Uniform Probate Code
  • Gift Tax

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Plano Estate-Planning Attorney

 
If you live in the following cities and need an Estate-Planning attorney you should contact our Estate-Planning Attorney as soon as possible:

  • Alvin
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  • Baytown
  • Brownsville
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  • Palestine
  • Pasadena
  • Pharr
  • Plano
  • Richardson
  • Richmond
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  • Weslaco
 


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