Estate planning for your guns.
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tomf52
Member
I have a trusted friend and FFL who is going to dispose of them for my wife.
I had a bad fall that almost killed me years back and lying in the hospital I started to think about that.'
Do to NYS draconian laws about legal pistol possession of handguns and knowing that some people had their legally registered handguns confiscated after their death I made a move.
I had my wife get her pistol permit and put my carry guns on it. Now having a permit all it would take is a couple weeks of legal"red tape" and my other pistols could be added to her permit as in our will at death all went to her and she was executer. I also leave a updated list of all guns and some other items with what I consider are current prices so if she sells she will have a reasonable idea of what they are worth. I list all my guns by what a gun shop will probably pay and what that are worth on the open market.
Now I have 2 adult kids that will inherit the estate if both of us are gone Both are shooters/gun people and one has a unrestricted NYS pistol permit so the handguns will not go to the state for "SAFE KEEPING"
Do to NYS draconian laws about legal pistol possession of handguns and knowing that some people had their legally registered handguns confiscated after their death I made a move.
I had my wife get her pistol permit and put my carry guns on it. Now having a permit all it would take is a couple weeks of legal"red tape" and my other pistols could be added to her permit as in our will at death all went to her and she was executer. I also leave a updated list of all guns and some other items with what I consider are current prices so if she sells she will have a reasonable idea of what they are worth. I list all my guns by what a gun shop will probably pay and what that are worth on the open market.
Now I have 2 adult kids that will inherit the estate if both of us are gone Both are shooters/gun people and one has a unrestricted NYS pistol permit so the handguns will not go to the state for "SAFE KEEPING"
Brian41
Member
My wife especially has concerns about my guns as we have no children to leave them to. I've directed her to have my brother and cousin go with her to a gun shop I've suggested and sell them there. Both of them are gun guys and would know if she's being treated fairly or not on prices.
If we both were killed at the same time then our bank has our wills and power of attorney to dispose of our estate and give the proceeds to our heirs. At that point I wouldn't care how they got rid of them only they'd probably have to get a locksmith to get into the safe unless my brother or FIL remember the combination I gave them.
My cousin and I have a pack as well we've discussed with our wives present. Who ever survives gets two picks from the other's gun collection before the spouse sells them off. It wouldn't hold up in court and hopefully the spouses remember our agreement too.
If we both were killed at the same time then our bank has our wills and power of attorney to dispose of our estate and give the proceeds to our heirs. At that point I wouldn't care how they got rid of them only they'd probably have to get a locksmith to get into the safe unless my brother or FIL remember the combination I gave them.
My cousin and I have a pack as well we've discussed with our wives present. Who ever survives gets two picks from the other's gun collection before the spouse sells them off. It wouldn't hold up in court and hopefully the spouses remember our agreement too.
charlie sherrill
SWCA Member
They are covered by my will. No need to involve the government or an FFL where I live except for the class III stuff and Jr. knows how to handle that.
I told my former marine SIL that when I go he gets all my guns.
Now, when he sees me, he says "Soooo........................
How ya feelin'?"
Now, when he sees me, he says "Soooo........................
How ya feelin'?"
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Aticus
Member
Several years ago I told my wife that should something happen to me she was go to a friends shop and sell everything. A couple years ago my grandson told her not to do that, he wanted it all. Guess that settles that, eh? 
Biggfoot44
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Does NFA Trust count ?
I just hope she doesnt sell them for what she thinks I paid for them.
In all honesty if I died suddenly it would be a friggin mess. I really need a plan. With no kids its actually more difficult than if I had one or more. I had hoped my nephew's would get them but neither had shown any interest.
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In all honesty if I died suddenly it would be a friggin mess. I really need a plan. With no kids its actually more difficult than if I had one or more. I had hoped my nephew's would get them but neither had shown any interest.
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It's in my will for a few of them to go to certain people, and for my wife, (or if she has also deceased my two children) to sell off what they do not want (they know who to have sell), and split the proceeds. It is my goal to gradually dispose of most of them in my last years, (when to start is the question), so they don't have much to worry about. I have already given away a couple.
OLDNAVYMCPO
US Veteran, Absent Comrade
It's coincidental you should bring forth this thread. I spent all day yesterday going thru the safe, documenting descriptions, serial numbers and recording which family member got which. Was motivated by some questionable medical issues that have recently surfaced. Still have more to do today. Trying to be equitable and yet match guns to ability or interest is the most difficult part.
gdnagle
US Veteran
My problem is I live in a free state
and my kids live in a communist state
so They can't get most of what I have. I'll be gone so it's up to the little lady to do with what she wants. I told her to research before she sell's any. But then again my wife is 13 years younger so she might get married again and give them to her new hubby.
Gosh I hope not would rather see them sold and give the money to the kids.
and my kids live in a communist state so They can't get most of what I have. I'll be gone so it's up to the little lady to do with what she wants. I told her to research before she sell's any. But then again my wife is 13 years younger so she might get married again and give them to her new hubby. Gosh I hope not would rather see them sold and give the money to the kids.italiansport
Member
Well the 1st thing I did was to relocate to Arizona from the Peoples Republik of Illinois.
All my guns are described in a comprehensive inventory that is updated periodically. This inventory list in sent on a DVD to my daughter at least once a year. We have a Revokable Trust set up with my wife, daughter and myself as executors. They will all go to my daughter and eventually to my grandchildren who may keep them or dispose of them as it will be their choice.
Jim
All my guns are described in a comprehensive inventory that is updated periodically. This inventory list in sent on a DVD to my daughter at least once a year. We have a Revokable Trust set up with my wife, daughter and myself as executors. They will all go to my daughter and eventually to my grandchildren who may keep them or dispose of them as it will be their choice.
Jim
Have you spoken with an estate planning attorney who is thoroughly familiar with the current estate planning laws of your state? This is a special practice area, plus the laws are continuously changing/being revised.
We now live in Georgia. We met with our attorney two years ago after moving here from Austin, TX. He provided my wife and me with a "Personal Property Memorandum" (available on request via a PM) which allows us to each specify those personal (firearms included) items which we own that are to bypass our estates and go to specific people. Otherwise, our personal items (firearms, jewelry, watches, collectibles, etc) all become a part of the entire estate itself, which if not requested by an heir will be converted to cash and distributed according to the provisions of our separate wills. This also removes the valuables from the grasp of the creditors and all other claimants.
Just as has been previously mentioned, I also maintain detailed records and documents in a large binder for all of my firearms, including my historical letters from Smith & Wesson. The detailed records are also in an Excel spreadsheet on my computer hard drive.
I have already spoken with 3-5 trusted collectors in my city, explained to them the situation, and obtained a commitment from them to assist my "personal representatives" with the disposal of all of the firearms in my collection. The cover page in my binders provides the names, addresses, contact numbers, my relationship with them etc.
Our oldest son is our "personal representative". During recent visits I have explained to him where all of the firearms are located, the contents of the binder, and where to find the additional detailed information on my computer hard drive.
Probably all of us are "dynamic collectors" in that the specific items in our collection are continuously changing. My challenge is to ensure that my records are always up to date. That in itself is another story!
We now live in Georgia. We met with our attorney two years ago after moving here from Austin, TX. He provided my wife and me with a "Personal Property Memorandum" (available on request via a PM) which allows us to each specify those personal (firearms included) items which we own that are to bypass our estates and go to specific people. Otherwise, our personal items (firearms, jewelry, watches, collectibles, etc) all become a part of the entire estate itself, which if not requested by an heir will be converted to cash and distributed according to the provisions of our separate wills. This also removes the valuables from the grasp of the creditors and all other claimants.
Just as has been previously mentioned, I also maintain detailed records and documents in a large binder for all of my firearms, including my historical letters from Smith & Wesson. The detailed records are also in an Excel spreadsheet on my computer hard drive.
I have already spoken with 3-5 trusted collectors in my city, explained to them the situation, and obtained a commitment from them to assist my "personal representatives" with the disposal of all of the firearms in my collection. The cover page in my binders provides the names, addresses, contact numbers, my relationship with them etc.
Our oldest son is our "personal representative". During recent visits I have explained to him where all of the firearms are located, the contents of the binder, and where to find the additional detailed information on my computer hard drive.
Probably all of us are "dynamic collectors" in that the specific items in our collection are continuously changing. My challenge is to ensure that my records are always up to date. That in itself is another story!
X Ring Ranch
Member
After talking to several Texas attorney's I know they advised a "Trust"
Name yourself the administrator and the person who can sign off on disposing of the contents of the trust. (Land, personal property, stocks, bonds, checking accounts, and etc)
Name a person who you trust completely, as the alternate in case you die or incapacitated.
You can put your guns in the trust and it does give a level of protection. It is just a firewall between your stuff and people trying to take it when you kick the bucket.
Believe me the buzzards start to circle when you get old and they know you have stuff.
Dwight
Name yourself the administrator and the person who can sign off on disposing of the contents of the trust. (Land, personal property, stocks, bonds, checking accounts, and etc)
Name a person who you trust completely, as the alternate in case you die or incapacitated.
You can put your guns in the trust and it does give a level of protection. It is just a firewall between your stuff and people trying to take it when you kick the bucket.
Believe me the buzzards start to circle when you get old and they know you have stuff.
Dwight
I'm taking action now. Since I'm at the age (mid-70's) when physical things are starting to not work as well as they had in the past and getting to and from the range is getting more and more difficult, I'm in the process of selling what I have. The kids have no interest in them so they are now going. So far, I've sold about 1/3 of the collection. I'm doing it by watching the Want to Buy columns on several gun boards and responding to them. I'm also post ads on Gunbroker for items which are of the more rarer variety and the value is undetermined.
I also have a clause in my will where a friend will assist my wife in selling anything that is left and he gets a fixed percentage of the items sold so it is in his best interest to get the best price for my wife. Hopefully, the bulk will be gone and there will be but a few items will be left when I go.
I also have a clause in my will where a friend will assist my wife in selling anything that is left and he gets a fixed percentage of the items sold so it is in his best interest to get the best price for my wife. Hopefully, the bulk will be gone and there will be but a few items will be left when I go.
chaparrito
Member
My boy gets them all. He can do whatever he wants with the ones I've collected and I know he'll take care of and keep my dad's guns. I know for sure once I'm gone I'm not gonna care. Life's too short as it is to get real complicated with this inheritance stuff. I guess you fellows with the armory sized collections might have more decisions to make. I don't consider my guns part of my estate. Their monetary value is largely unimportant. (yeah I know, ask me how I feel about that when somebody steals them!)
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ibewbull
US Veteran
I am thankful my wife is a shooter and knows values or how to get them.
My two sons have indicated what they would like me not to sell.
So I chose to gift the boys those. Some I to them at a really good price to finance my next S&W.
My taste have changed over the years and some of my unfired guns are no longer unfired. The AR180 was one of those. Then I sold it to buy several S&Ws.
My daughter and grandson will get some tagged guns in the safe.
I really felt funny while I was recovering from my cancer surgery not having my 640 close by.
So I continue to buy sell and trade until the last.
All the accessories which I have lost track of are another issue which I wont fret about.
My two sons have indicated what they would like me not to sell.
So I chose to gift the boys those. Some I to them at a really good price to finance my next S&W.
My taste have changed over the years and some of my unfired guns are no longer unfired. The AR180 was one of those. Then I sold it to buy several S&Ws.
My daughter and grandson will get some tagged guns in the safe.
I really felt funny while I was recovering from my cancer surgery not having my 640 close by.
So I continue to buy sell and trade until the last.
All the accessories which I have lost track of are another issue which I wont fret about.
