Hypothetical question re: guns if you died

[Geezerbiker]

In this respect I'm fortunate. My only daughter is pro gun and I've made her executor of my estate. I've left a will but she gets the final say on who gets what.

Tony

 

[Frank Ettin]

Take some pictures of guns/holsters etc, get printed. On the back write S/N and other pertinent data along w/ suggested value..

Give set to someone trusted and encourage them to sell for you. Make sure wife/child (in a few yrs) understand the position.....

It's important to understand that informal "work-arounds" in general aren't useful. If you really want your guns, and any other personal or real property, to go to certain, specific people, or to be handled after your death in a particular fashion, you need to have a properly prepared, valid will, or an appropriate trust set up. Sidebar instructions will not trump a will or trust, or, for that matter, state intestacy law, if some relative decides to object.

Some things that folks often don't consider:

1. To be valid, a will needs to satisfy certain legal requirements. The exact requirements depend on state law.
   
   
2. Someone needs to be designated in a will or trust as the executor or trustee. That person becomes the personal representative of the decedent to wind up the decedent's affairs. Depending on state law that person might need to be confirmed by the probate court.
   
   
3. Winding up the decedent's estate can involve, among other things:
   
   
   • Accounting for the assets and liabilities of the estate.
     
     
   • Paying any taxes due and/or outstanding debts.
     
     
   • Managing any investments or property left. Collecting any debts due to the estate.
     
     
   • Distributing the remaining assets in accordance with the will or trust.
   
   
4. If there's insufficient cash in the estate to pay all outstanding debts, assets will need to be sold to raise cash.
   
   
5. If it's important to the testator that certain items of personal property be preserved if possible in order to pass to designated beneficiaries, a will or trust can include instructions regarding how liquidation decisions are to be made.
   
   
6. If there's no will or trust, property will go to whomever is entitled to it under the applicable intestacy laws -- without regard to any sidebar, informal instructions the decedent might have left.
   
   
7. Some of the ugliest, nasties fights we see in court involve surviving friends or relatives fighting over the distribution of some dead guy's stuff. Properly prepared wills or trusts can help avoid at least the worst of that.

 

[Aguila Blanca]

Take some pictures of guns/holsters etc, get printed. On the back write S/N and other pertinent data along w/ suggested value..

Give set to someone trusted and encourage them to sell for you. Make sure wife/child (in a few yrs) understand the position.

I previously posted a response to the above, saying it's illegal. One of the other moderators removed my post (thankfully), because it was only partially correct. As usual, the problem is that we live in a constitutional republic. We have fifty states, and each state has its own laws. So, to avoid generalizing, I will go on record as saying that what langenc suggests would be illegal in my state -- unless the friend happens to be named as the executor in my will.

In another thread, someone mentioned that a will must be filed with some [unnamed] state agency in order to be legal and binding. That is not the case here but, once someone passes away, before anything can be done with his or her assets, the will (if there is one) must be submitted to and approved by the probate court having jurisdiction, AND the executor must be approved by the probate court having jurisdiction (whether there is a will or if the person dies intestate).

I have two friends who have acted as executors of their respective father's estates (one is still being closed out), in two other states, and in both cases they also had to be approved by the probate court before they could take any action with respect to the decedant's assets.

So, once again -- there is no one-size-fits-all answer, and there is no substitute for looking up the laws of the state/jurisdiction in which you live.

Check w/ your state rifle/pistol or other gun assn for laws at that time regarding sales/gifts of said guns. Might ask lawyer about mentioning in will(s).

Once the person dies, "gifts" is out of the question. An executor of an estate has a fiduciary duty under the law to close out the estate responsibly, and I'm pretty certain that means preserving the value of the estate for the benefit of the heirs. Giving away anything that has monetary value would not be preserving the value of the estate. If you have specific firearms that you want to go to certain people, either give the guns to them while you're still alive, or make out a will and list those guns and the recipients as specific bequests.