Getting older, what is your firearms endgame?

[jessebogan]

I am 59, and think about this on occasion. I have decided that I will place all of mine in my will.The heirlooms will go to my son. Some of the rest will go to people that I care for. Some friends, some family. They all know I am a gun nut, and they all shoot, so what the heck? Some, a few, I may give away before that. Not everyone can afford to get the gun of their dreams (Lately that includes me), so I can spread a little joy that way. My small collection is not anything to write home about, mostly martial arms, but I bought most of them long ago. I am planning to be sure the Smiths stay in the family.

 

[federali]

Same Thought

I'm 73 and just recently, my prostate cancer returned after 22 years. Just finished radiation, won't know the outcome until October. So, yes, the exit sign is slowly coming into focus. Anyway, I have a modest collection of handguns and long guns. I have three sons and three very young grandsons. The one son with a passing interest in guns lives in the Peoples' Republic of California so I can't transfer the guns to him.

My plan is to slowly liquidate the guns, especially the multiples of guns suitable for deer hunting, which, I no longer do. Better to reduce the herd to a manageable size so as not to burden the estate.

Very important: make sure somebody knows how to clear a handgun as you don't want to leave a booby trap for a family member. I'm thinking of the nightstand gun. On trips, I clear my EDC guns and store them in the safe, all unloaded. If I elect to leave a loaded handgun in the safe for convenience, it wears a prominent sign saying "LOADED."

 

[ladder13]

Sounds like you have a good plan Slustuff. No one knows the hour of their last breath, could be tonite or in ten years.
Enjoy all the time you have left with those you love and who love you, everything else is "things".

 

[ditto1958]

Whatever you do, try to make sure that when you die your family doesn't sell all your guns for what you told your wife you paid for them.

 

[LarryMNH]

Just turned 65. I love shooting some of my guns and have major ammo for those I do shoot.
I am in the initial stages of turning the ones I haven't shot in a very longtime and probably won't into cash.
Non of my heirs understand gun values so leaving them to sell them will end up a great give away to someone I never met. And btw I would rather spend the cash on myself.
I will be targeting son, daughters, and grandkids with a specific one or 2 for each that I will still be shooting now. And will continue to shoot until my time is up.
I have never sold one of my guns. So this is new for me.
I think I'll enjoy financing a trip or two to the islands with the profits from guns I bought 30 to 45 years ago. And shot to my hearts content.
Got to love guns. Buy the gun for $135.00, shoot thousands of rounds through it and sell it for $700. To $800.
Larry

 

[les.b]

I have occasionally thought about this subject, but then I get sidetracked buying another gun that "I always wanted". I have an awful lot of guns. I have always thought that they were an investment, and they are, but my GF says that I never sell any of them. And of course she's right, but on the other hand, I have other investments that I haven't cashed in on, and in fact am still putting money in 403B, etc., which I hope to take out some day. I have two sons that like guns, and three grandchildren, and the GF, so there are folks to pass them down to, but probably they would not want all of them. I do have a database which includes approximate value, a history of each gun, whether it has any family significant family value (my service guns, for example, and ones that came to me from earlier generations), and this will be a help to my family in deciding what to keep, and what to expect to get if they sell.

But I'm not really ready to start selling, unless it is to upgrade an item, or buy something that I've always wanted.

After all, I'm only 71, and hope to have many more years to enjoy this wonderful hobby of ours!!

Also, I'm still working full time. I'm trying to learn from my mom. She retired when she was 60, and lived to be 96. She often told me that she wished she had kept working, not just for the income, but for many other reasons as well, like continuing to do something she liked. Well, if I go unexpectedly, my family know not to let the unwanted guns go too cheaply....and neither of my kids really need money from me, both are sucessful, so I'm going to at least keep my favorites for the foreseeable future.

Best Regards, Les

 

[Inusuit]

I'm 73 and neither of my sons are interested in my firearms. I have tagged all of my collection with pertinent information and estimated value. My wife, who is younger and will probably outlive me, knows who to contact upon my demise. He's a trusted FFL dealer who handles estates.

 

[Camster]

I'm 73 and just recently, my prostate cancer returned after 22 years. Just finished radiation, won't know the outcome until October. So, yes, the exit sign is slowly coming into focus. Anyway, I have a modest collection of handguns and long guns. I have three sons and three very young grandsons. The one son with a passing interest in guns lives in the Peoples' Republic of California so I can't transfer the guns to him.

My plan is to slowly liquidate the guns, especially the multiples of guns suitable for deer hunting, which, I no longer do. Better to reduce the herd to a manageable size so as not to burden the estate.

Very important: make sure somebody knows how to clear a handgun as you don't want to leave a booby trap for a family member. I'm thinking of the nightstand gun. On trips, I clear my EDC guns and store them in the safe, all unloaded. If I elect to leave a loaded handgun in the safe for convenience, it wears a prominent sign saying "LOADED."

I did the very same thing with one that I kept loaded in the safe.A tag on it's rug that read, "LOADED!"
Being a fellow Long Islander, you probably understand that one of my reasons for no longer being interested in shooting, is the dangerous nonsense that goes on at the Calverton range.I won't return there after a jerk and his non gunnie idiot friend thought nothing of being off the firing line,playing with a possibly loaded S&W 500,that was pointed in every direction.When I gestured for them to be on the line, I heard one say to the other,"What's his problem?" At Brookhaven,being tall requires me to stand with my legs splayed, so that I can see the target without the overhead beam interfering,which is there to limit shooters from taking elevated shots.

 

[les.b]

I might add that one of my best friends, who was also a gun collector passed away very unexpectedly a few years ago, his widow called on me to help her dispose of his collection with the exception of a few that she was going to keep.

Well, I went over the collection, and told her what she should expect to get for each item, then bought about 8 or 10 of them myself, and the worst part of that was, that if I had been buying them from my buddy, I would have tried to get him to come down on the price. In the case of his widow, I ended up paying more than I had told her they were worth, just to help her out.....

Best Regards, Les

 

[TTSH]

As one of the older members here... and with one foot in the grave already or so my doctors tell me... all I can say is that you young whippersnappers in your 50's and early 60's have got a long way to go... so chill!!!

According to the infamous Bam formula, I've got less than 3 good years left, but I plan to make the most of them as opportunities and senior citizen cash flow allow. I am still buying although at something less than half my peak rate which I hit in 2014-2015. And I am only dumping my cheap plastic wonder guns that I shouldn't have bought in the first place. Who wants to hand down those guns? Not moi! That said, no one wants to buy them!

I do have a nephew who would be more than willing to take my entire collection. He has a son as well. I also have at least one nephew-in-law who would be thrilled to get anything from my collection... well, except plastic probably.

It's too early to tell about my one and only grandson... but if he has any interest, he will be well taken care of. For the rest, my fully-licensed good wife knows what I own, what I paid for them and where to go to liquidate.

 

[federali]

Camster:

I fully understand. People who are a danger to themselves and those around them are not limited to Long Island.

 

[Cortelli]

I'm 73 and just recently, my prostate cancer returned after 22 years. Just finished radiation, won't know the outcome until October. So, yes, the exit sign is slowly coming into focus. Anyway, I have a modest collection of handguns and long guns. I have three sons and three very young grandsons. The one son with a passing interest in guns lives in the Peoples' Republic of California so I can't transfer the guns to him.

My plan is to slowly liquidate the guns, especially the multiples of guns suitable for deer hunting, which, I no longer do. Better to reduce the herd to a manageable size so as not to burden the estate.

Very important: make sure somebody knows how to clear a handgun as you don't want to leave a booby trap for a family member. I'm thinking of the nightstand gun. On trips, I clear my EDC guns and store them in the safe, all unloaded. If I elect to leave a loaded handgun in the safe for convenience, it wears a prominent sign saying "LOADED."

(emphasis added)

You should look into this (transfer to your son in CAL).

Father-son transfers where the father is resident outside CAL and son is CAL resident are permitted without regard to CAL's "roster" of approved handguns.

I'm not really up to date on long guns; and I'm not sure how a transfer via will / trust works - but I do know that off-roster handgun gifts to CAL residents by a select list of family members are legal even if one has to jump through a few hoops involving finding FFLs to handle the gift and reporting requirements on the recipient's part.

And I wish you the best with regard to your health challenge.

 

[federali]

Log Book

I forgot to mention that I keep a looseleaf log book in which each gun is identified by type, brand, caliber and serial number. I also identify what increases its resale value such as a Leopold scope or what makes it less valuable. I identify accessories belonging to the gun, particularly if it's not practical to store with the gun.

Every year or two, I update each gun's value, based upon what they're selling for online.

 

[Denver Dick]

Well, I'll be 66 years old next month and I'm in general good health. I have 50 handguns plus about 14 long guns. I'm always thinking about selling one or two handguns, but it seems that if I sell one I end up buying two. My wife and I are fortunate not to need any money from the sale of my guns.

Although I don't shoot the long guns much anymore, I do go to my indoor range once every week and usually take a couple of pistols. One week it might be one of my five .45 1911s and one of my three S&W 10mm autos, the next week one of my seven S&W .45 autos and one of my four Glocks, and the week after that one of my five Makarovs and my CZ-52. You get the idea.

My older brother (70 years old) is a gun guy like me. I have no children but he has two, and although they each owns a few guns, they're not gun nuts. I'm designating (within our family trust) a few specific firearms to my brother (if he out lives me), nephew, two nieces, grand-nephew and grand-niece. That will account for about a dozen firearms. Then they will each get to select a few more in rotation. If there are any remaining, the trust will sell them.

Now, that said, if I get into my 80s and I find I'm not shooting them as much, I will probably sell a few. However, there are several I will never sell, although I don't need to be buried with any of them . . . heck, I'll be dead!

 

[kbm6893]

I did the very same thing with one that I kept loaded in the safe.A tag on it's rug that read, "LOADED!"
Being a fellow Long Islander, you probably understand that one of my reasons for no longer being interested in shooting, is the dangerous nonsense that goes on at the Calverton range.I won't return there after a jerk and his non gunnie idiot friend thought nothing of being off the firing line,playing with a possibly loaded S&W 500,that was pointed in every direction.When I gestured for them to be on the line, I heard one say to the other,"What's his problem?" At Brookhaven,being tall requires me to stand with my legs splayed, so that I can see the target without the overhead beam interfering,which is there to limit shooters from taking elevated shots.

Calverton was dangerous 20 years ago. Can't imagine what it's like now.

I bought a mint, and I mean MINT 19-2 4" 5 years ago. Diamond Target stocks numbered to gun. 99% easily. Guy got it in that morning. $249. $263 out the door. He bought it that morning from "an old lady whose husband died and she found it in his things". Probably gave her $100 for it. I fired 18
rounds, cleaned it, and sold it three months later for $750. It was just too nice to shoot. I do regret that sale the most. That would have been the one to leave to my son. But I have others.

Point being if you kick off before you sell them those who are left with them
Will get taken advantage of and that isn't right. If I ever believe my time is short, all but a couple are being sold. The rest go to the kids.

 

[BigBill]

Yup time to thin the herd. Sad but true. The kids will get hunting rifle and handguns.

 

[Buford57]

Some of my plan will show up in the classifieds within the next 6 months. I had the fortune of growing up relatively poor. For the first 10 years or so of my shooting life trying something new meant trading or selling what I already had, so I chose carefully and made few impulse buys. During times of financial reversal I sold off surplus guns. But over the past 25 years or so I have accumulated a lot of stuff I rarely shoot, and I bought them to shoot. One son has no interest in guns, including the ones I bought to teach him shooting. The other has tastes far from mine and has already received most of what I have that interests him. Only grandchild is too young to tell whether he'll give a rip that he had a Grandpa, let alone want or appreciate my stuff.

There are a few well used ordinary working guns that belonged to my father, grandmother, father-in-law and grandfather-in-law that I don't have the heart to put a price tag on. My shooting son can peddle them and use the money to buy something he enjoys. As for the rest, I will gradually sell off all but what I carry or shoot on a regular basis and then try to wear those out in the time remaining. That will mean less time on this forum and more time on the range.

 

[BigBill]

It's tough to part with stuff. I'm doing my best not to give up yet. I am trying to hang on.

 

[SPEEDGUNNER]

I have been collecting for 40 years. Mostly U.S. Military, but there is an eclectic side of me that has accumulated an odd but interesting assortment of other weapons. I always looked at my collection as part of my retirement. I am fortunate to have 2 sons who have an interest, so the passing of the torch is not an issue. What worries me is, with the current and future state of affairs regarding gun control and the libs attack on guns in general, will my collection have ANY value in 10, 15 or 20 years?

 

[Cortelli]

The one son with a passing interest in guns lives in the Peoples' Republic of California so I can't transfer the guns to him.

(emphasis added)

You should look into this (transfer to your son in CAL).

Father-son transfers where the father is resident outside CAL and son is CAL resident are permitted without regard to CAL's "roster" of approved handguns.

I'm not really up to date on long guns; and I'm not sure how a transfer via will / trust works - but I do know that off-roster handgun gifts to CAL residents by a select list of family members are legal even if one has to jump through a few hoops involving finding FFLs to handle the gift and reporting requirements on the recipient's part.

And I wish you the best with regard to your health challenge.

Check out this link: Interstate transfer among some family members - Calguns.net

It doesn't speak to transfer via will or trust, but it pretty clearly lays out the process for a gift to your son in CAL (if that's what you want to do). Again, best wishes for a positive health outcome.