What's your plan for your guns when you pass?

If my wife survives me and doesn't want to keep the guns, I have instructed her to contact Rock Island Auctions. They will come, inventory the guns, take them, give her a receipt, sell the guns at auction and send her the money. They also take gun books on the same basis. I have no need to worry about what I paid for the stuff, since as an inheritance, the cost basis is the value they sell for. (If I sell them, I have to calculate the cost basis and pay capital gains tax on the "profit.")

Will she get "what they are worth"? Maybe, maybe not, but I won't really care. She will get a goodly sum of money.

Jim
 
They are all listed in my will,,,

They are all listed in my will,,,
As well as the people who will inherit them,,,
I also included an addendum that shows their contact information.

At my age whenever I purchase a new gun,,,
I immediately list where I want the gun to go when I die.

I know it sounds silly,,,
But in at least two instances,,,
I've bought a gun specifically to bequeath to someone.

A detailed will is a must do thing,,,
I had a heart attack back in September,,,
That scared me and spurred the revamp of my will.

One thing I did was to take pictures of the guns,,,
And every accessory that will go with them,,,
Things like holsters and the original boxes.

I keep everything in a notebook that's also duplicated in CD-ROM,,,
I had my brother come to my home one afternoon,,,
I gave him the tour as to where everything is,,,
He is the executor so he appreciated that,,,
And he has a key to my gun cabinet.

Aarond

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I will have to make a will one of these days. All of my gun buddies are older than me so I might outlast them and they have more than they can give away already. My boys will have to split it, but a will makes it legal. I dont know if they will appreciate them the way I do. Tim will tell.

I lost out on a couple of 1890's winchesters and a few other gems becuase what was promised and what was written didnt line up. They went from my uncle to his brother then passed to his son that probably sold them to buy an ATV. I still have the memories of the years of hunts with my uncle, but it would have been nice to have a momento of our good times.
 
I have created a database document listing all of my firearms serial numbers, etc. and had it notarized by my bank and signed by me and my wife which transfers all of my firearms, accessories, and ammunition to my son. This document is in my safe deposit box in an envelope addressed to my son. If I die before my wife, the guns are hers and hopefully she will honor our agreement. The only signed and notarized copy will go to my son upon my death, and the guns will be his. Until then, the transfer sits in limbo. I did this when all of the nonsense gun control started up last year. The document is dated 12/25/12 so that if any "grandfathering" schemes pop up the transfer of ownership will have happened before any legislation which could create "banned" items. The guns are my son's when I die, not mentioned in any will, they are already his, just in my possession for now.
 
It is in my will that my sons gets all my firearms. He is an LEO and will have no problem. He is exempt from the NYS safe act, so he can have my AR as well. My wife and other family members agree so that is good.
 
Pretty simple,
My M1 Garand is common property between my 3 boys. After that they cut cards, high card goes first. There are 3 AR's and 3 bolt rifles, after that they will just keep picking through until everything else is gone. If there is any intention to sell, I just want them thrown in the hole with me.
 
Give them to my son, hopefully he'll keep them. The wife doesn't care for guns and if she sells them for I told her I paid for them, they'll go cheap. :eek:
 
Have a will. It will make things easier all around for the survivors.
Click to expand...

Not only have a will, but also make sure your PR/Executor has access to it ...... my mother and her husband had a will, but it mysteriously vanished when she died in an auto accident. I was appointed her PR, but without a will, we got nearly nothing- her husband (also in the crash) survived her by about 30 minutes..... by law, her estate passed to him, and his to his siblings (he had no children), some of whom he was not even on speaking terms with .....

Make a will, and make sure your PR/Executor has it. Otherwise, you may as well speak your wishes to the wind, for all the good it'll do you.

Probate Lawyers cast hundreds of $$$ per hour, and can drag the process out until the only parties that get anything are the Lawyers and the Courts....... :mad:
 
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