North Carolina legislators proposed the Constitutional Carry Act (HB 69) earlier this month. The Act would remove the requirement to acquire a concealed carry permit in order to carry a concealed handgun.
Florida's Probate Code provides a short window of time for creditors to make claims against the decedent's estate following creditor notification, with a statute of limitations extending two years after the decedent's date of death. A recent appeals court decision involving an estate and a claim against an insurance company for bad faith draws attention to application of statutes of limitations, the degree to which estates are immune to claims, and an insurance company's powers to refuse defense of an estate.
A bill introduced earlier this month in the House and Senate in Tennessee proposed to create an annual sales tax holiday for guns and ammunition. The proposed tax incentive in HB 744 (SB 1004) asks lawmakers to consider holding the three-day tax exemption the first weekend of every September.
A senior official with the ATF released a white paper proposing to lift restrictions on firearms sales and imports. The 11-page document 'provides potential ways to reduce or modify regulations, or suggest changes that promote commerce and defend the Second Amendment.' Among several matters, a few notable items include federal regulation changes for silencers, gun show sale changes, and lifted import restrictions.
The United States Tax Court filed a memorandum shortly after the New Year pertaining to an estate tax case. The case highlights three important tax matters that executors might misinterpret or otherwise overlook during estate administration.
The Death Tax Repeal Act of 2017 was introduced just a few days after the first of the year. In late January, another bill was introduced to the House. This bill includes provisions for permanently setting the lifetime gift tax exemption (with an inflation adjustment) and a maximum gift tax rate of 35 percent.
On the first day of President Trump's tenure in office, federal regulators were ordered to suspend new regulations pending further review, excluding emergency response matters. The memorandum ordering suspended regulations addresses three items.
While the term digital estate planning refers to developing provisions for post-mortem transfers or disposition of online assets, S.B. 206 (known as the Florida Electronic Wills Act) addresses a digital component of one's estate plan. An electronic will is one that is prepared, executed, and stored entirely on digital platforms.
Florida lawmakers released an initial draft of House Bill 167 in early January 2017. HB 167 would ban private transfers and sales of large capacity ammunition magazines and assault weapons (with some exceptions) across the state.