What happens to your guns in event of your demise? - Page 2

KEYBEAR · June 11, 2018, 08:16 PM

My son is a gun guy like me he is also a hunter . My son will be 50 years old this next year . I have gave him nice guns the last 5/6 years two or three each year . Indiana let us use Rifles to hunt deer now I gave him a Ruger Number one in 30-06 and a Weatherby old Model Made in California Southport I think also 30-06 . I also load most of his ammo he has little interest in loading (for now) . I also gave him a nice old Browning sidexside 20gr i just remember that . This is what we do out of love because we can .

peterg7 · June 12, 2018, 11:01 AM

OP You’re a year older than me and while I don’t have a large collection, I plan to leave a few to my kids(their wants) keep what I need to hunt and CC and liquidate the rest, converting that money to gold and silver.

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peterg7 · June 12, 2018, 11:07 AM

My wife says Longaberger is going out of business so we expect a big upside on baskets

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Hal · June 12, 2018, 12:01 PM

Sadly - gun ownership in my family dies with me.

Since that's the case, I'm planning on selling most of mine & just using the money to have fun.
I'd much rather do that than see all of them sold just so my wife could pay for my medical bills.

J.G. Terry · June 12, 2018, 12:42 PM

Guns, what to do: Lacking a crystal ball something needed to be done now. Back in the day when I was in business it was not unusual to see this drama played out.

Drama #1: Liquidating an Estate- Melvin comes into store. Irving, before he died agreed to sell me his Parker A1 Special for $500.00. The last actual example was an old long barrelled Ruger Flattop 44 Magnum in 99% condition. The sharks will circle.

Drama #2: Already addressed but this happens. How much significant other was told gun cost was the then selling price. Deceased may roll in the grave.

What I did: Made a comprehensive list of firearms with serial numbers. Also included anything special about the gun. Next I specified in my will who was to dispose of these items. Two guys with great experience and integrity were named in will. Also have a person who was to take care of disposing of reloading gear. I won't be around. I can do my best to take care of my survivors while I'm on the green side of the grass.

lamarw · June 12, 2018, 08:18 PM

She stopped buying Coach years ago. Something about MIM parts or cheap quality. LOL She does say their quality has gone down hill.

kozak6 · June 13, 2018, 07:01 AM

No biggie. My brother and his fiancee are shooters, so they'd put them to good use. The fiancee also has some FFL's in the family, so they could figure out what do with anything unwanted.

If I were in a more difficult position, I'd think about liquidating most of them. Sounds like that could buy a few crazy vacations, maybe some kind of interesting vehicle, or fully fund some new hobbies. Or, it could make for some stocks or bonds to pass on.

For the remaining firearms, I'd want to keep an updated spreadsheet printout in the safe as a guide for value.

Skans · June 13, 2018, 07:22 AM

Here's what I have done. I only have one child. My child will likely not want all of my guns and my wife has an interest in only a couple of them. So, I have done several things:

1. I keep an updated log of all of my guns, explaining why I bought them, how much I paid, serial numbers, and estimated values as of a particular date. I am in the process of incorporating photos of each gun into my log so that they can be easily identified.

2. If there is something special about a particular gun, I will also tag that gun and write a note on the tag (these would be collectible guns that I mostly don't shoot)

3. I have told my wife (and this is in my log too) that any guns she or my child does not want should be auctioned off at Rock Island Auction; and I've left contact information for RIA in my log. I have attended auctions at RIA and I really like the way they are run.

If/when I have grandkids, I will probably need to update this a bit, but that is my procedure.

T. O'Heir · June 13, 2018, 02:38 PM

Placed in the pyramid with me.
"...have a formal will or living trust prepared..." Like Frank says. If you don't the government will decide who destroys your property. At least, that's how it works, up here. Have no will and they decided everything. Your's will have no say in any of it.
Have a will and the executor gets to deal with it.

Chainsaw. · June 14, 2018, 10:13 AM

Being on the flip side of the coin, I'm 38, my Dad is 70. He has some guns, but none that are terribly valuable, his "collection" is very pragmatic, only useful stuff save for one really, that being his remington target master that his Dad gave him. Well I have that rifle already as well as My Dads 1974ish winchester 30-30, the first rifle I ever shot at 5 years old, I still remember that clear as day. So, not much of a collection, as I said, strictly pragmatic, non the less it was Dads. All that being said My Pops asked me a few years back if I'd like any of his guns, of course I said sure but no need to rush. What I DO very much want are his service medals from his time in the war in Vietnam. Best thing is ask the kids, maybe they ho-hum now, but as time inevitably marches on they may grow closer to the idea of have one or two of Dads guns. The rest, are just things, perhaps you could sell them now and enjoy the proceeds with your family in another way.

lunger · June 14, 2018, 07:14 PM

Thanks for the replies. I see I am not alone in this situation. I do have a will but not specific to my firearms. I do like the idea of cataloging them with the history . Maybe I will sit down with my children and see if there are any that they would like now.

Maybe they would be interested in some of the older ones for their historical value.I will have to give this more thought. Hopefully I have plenty of time to decide.

Bottom Gun · June 14, 2018, 08:15 PM

I’ve instructed my wife to keep what she wants, which will likely only be a couple of pistols. Then, a couple of my select friends who are still kicking get a chance to chose whatever they want. The remainder will go to my friend who owns our LGS to be sold on consignment with the proceeds going to my wife.

sgms · June 14, 2018, 08:23 PM

My 2 kids aren't much interested in my collection. My son wants a revolver, 1911, hunting rifle, an HD shotgun, and my over under trap gun. He says hell never want another gun after that, My daughter is only interested in the old British mail coach blunderbuss because its cute. The rest will be going too my brothers kids. 3 of them like shooting and fortunately 1, a Marine artillery captain, is a lover of antique U.S. military firearms. Oddly enough they heaved been my collecting love for 55 years now son I at lest have somebody who cares about them and there history as much as I do. because he does I am fleshing out the collections history and being sure he knows what they are, what I was given from my grandfathers collection and what I collected. If my kids get pissed about so much of the estate value going to some one else tough I've talked to both of them several time and told them I really don't want them just sold off for the money.

June 12, 2018, 11:07 AM	#28
peterg7 Senior Member Join Date: July 20, 2017 Posts: 316	What happens to your guns in event of your demise? My wife says Longaberger is going out of business so we expect a big upside on baskets Sent from my iPhone using Tapatalk

June 12, 2018, 12:42 PM	#30
J.G. Terry Senior Member Join Date: January 24, 2014 Posts: 577	Guns, what to do Guns, what to do: Lacking a crystal ball something needed to be done now. Back in the day when I was in business it was not unusual to see this drama played out. Drama #1: Liquidating an Estate- Melvin comes into store. Irving, before he died agreed to sell me his Parker A1 Special for $500.00. The last actual example was an old long barrelled Ruger Flattop 44 Magnum in 99% condition. The sharks will circle. Drama #2: Already addressed but this happens. How much significant other was told gun cost was the then selling price. Deceased may roll in the grave. What I did: Made a comprehensive list of firearms with serial numbers. Also included anything special about the gun. Next I specified in my will who was to dispose of these items. Two guys with great experience and integrity were named in will. Also have a person who was to take care of disposing of reloading gear. I won't be around. I can do my best to take care of my survivors while I'm on the green side of the grass. Last edited by J.G. Terry; June 12, 2018 at 12:48 PM.

June 13, 2018, 02:38 PM	#34
T. O'Heir Senior Member Join Date: February 13, 2002 Location: Canada Posts: 12,453	Placed in the pyramid with me. "...have a formal will or living trust prepared..." Like Frank says. If you don't the government will decide who destroys your property. At least, that's how it works, up here. Have no will and they decided everything. Your's will have no say in any of it. Have a will and the executor gets to deal with it. __________________ Spelling and grammar count!

June 14, 2018, 10:13 AM	#35
Chainsaw. Senior Member Join Date: September 12, 2015 Location: Issaquah WA. Its a dry rain. Posts: 1,774	Being on the flip side of the coin, I'm 38, my Dad is 70. He has some guns, but none that are terribly valuable, his "collection" is very pragmatic, only useful stuff save for one really, that being his remington target master that his Dad gave him. Well I have that rifle already as well as My Dads 1974ish winchester 30-30, the first rifle I ever shot at 5 years old, I still remember that clear as day. So, not much of a collection, as I said, strictly pragmatic, non the less it was Dads. All that being said My Pops asked me a few years back if I'd like any of his guns, of course I said sure but no need to rush. What I DO very much want are his service medals from his time in the war in Vietnam. Best thing is ask the kids, maybe they ho-hum now, but as time inevitably marches on they may grow closer to the idea of have one or two of Dads guns. The rest, are just things, perhaps you could sell them now and enjoy the proceeds with your family in another way. __________________ Just shoot the damn thing.

June 14, 2018, 08:15 PM	#37
Bottom Gun Senior Member Join Date: October 13, 1998 Location: Arizona Territory Posts: 1,092	I’ve instructed my wife to keep what she wants, which will likely only be a couple of pistols. Then, a couple of my select friends who are still kicking get a chance to chose whatever they want. The remainder will go to my friend who owns our LGS to be sold on consignment with the proceeds going to my wife. __________________ NRA Life Member Mechanical engineers have their moments.

June 11, 2018, 08:16 PM	#26
KEYBEAR Senior Member Join Date: January 11, 2012 Location: Indiana Posts: 1,059	My son is a gun guy like me he is also a hunter . My son will be 50 years old this next year . I have gave him nice guns the last 5/6 years two or three each year . Indiana let us use Rifles to hunt deer now I gave him a Ruger Number one in 30-06 and a Weatherby old Model Made in California Southport I think also 30-06 . I also load most of his ammo he has little interest in loading (for now) . I also gave him a nice old Browning sidexside 20gr i just remember that . This is what we do out of love because we can .

June 12, 2018, 11:01 AM	#27
peterg7 Senior Member Join Date: July 20, 2017 Posts: 316	OP You’re a year older than me and while I don’t have a large collection, I plan to leave a few to my kids(their wants) keep what I need to hunt and CC and liquidate the rest, converting that money to gold and silver. Sent from my iPhone using Tapatalk

June 12, 2018, 12:01 PM	#29
Hal Senior Member Join Date: October 9, 1998 Location: Ohio USA Posts: 8,563	Sadly - gun ownership in my family dies with me. Since that's the case, I'm planning on selling most of mine & just using the money to have fun. I'd much rather do that than see all of them sold just so my wife could pay for my medical bills.

June 12, 2018, 08:18 PM	#31
lamarw Senior Member Join Date: April 12, 2010 Location: Lake Martin, AL Posts: 3,311	She stopped buying Coach years ago. Something about MIM parts or cheap quality. LOL She does say their quality has gone down hill.

June 13, 2018, 07:01 AM	#32
kozak6 Senior Member Join Date: June 16, 2005 Location: AZ Posts: 3,113	No biggie. My brother and his fiancee are shooters, so they'd put them to good use. The fiancee also has some FFL's in the family, so they could figure out what do with anything unwanted. If I were in a more difficult position, I'd think about liquidating most of them. Sounds like that could buy a few crazy vacations, maybe some kind of interesting vehicle, or fully fund some new hobbies. Or, it could make for some stocks or bonds to pass on. For the remaining firearms, I'd want to keep an updated spreadsheet printout in the safe as a guide for value.

June 13, 2018, 07:22 AM	#33
Skans Senior Member Join Date: November 20, 2008 Posts: 11,132	Here's what I have done. I only have one child. My child will likely not want all of my guns and my wife has an interest in only a couple of them. So, I have done several things: 1. I keep an updated log of all of my guns, explaining why I bought them, how much I paid, serial numbers, and estimated values as of a particular date. I am in the process of incorporating photos of each gun into my log so that they can be easily identified. 2. If there is something special about a particular gun, I will also tag that gun and write a note on the tag (these would be collectible guns that I mostly don't shoot) 3. I have told my wife (and this is in my log too) that any guns she or my child does not want should be auctioned off at Rock Island Auction; and I've left contact information for RIA in my log. I have attended auctions at RIA and I really like the way they are run. If/when I have grandkids, I will probably need to update this a bit, but that is my procedure.

June 14, 2018, 07:14 PM	#36
lunger Senior Member Join Date: May 17, 2007 Posts: 443	Thanks for the replies. I see I am not alone in this situation. I do have a will but not specific to my firearms. I do like the idea of cataloging them with the history . Maybe I will sit down with my children and see if there are any that they would like now. Maybe they would be interested in some of the older ones for their historical value.I will have to give this more thought. Hopefully I have plenty of time to decide.

June 14, 2018, 08:23 PM	#38
sgms Senior Member Join Date: May 30, 2010 Location: Arizona or Ohio depending Posts: 1,021	My 2 kids aren't much interested in my collection. My son wants a revolver, 1911, hunting rifle, an HD shotgun, and my over under trap gun. He says hell never want another gun after that, My daughter is only interested in the old British mail coach blunderbuss because its cute. The rest will be going too my brothers kids. 3 of them like shooting and fortunately 1, a Marine artillery captain, is a lover of antique U.S. military firearms. Oddly enough they heaved been my collecting love for 55 years now son I at lest have somebody who cares about them and there history as much as I do. because he does I am fleshing out the collections history and being sure he knows what they are, what I was given from my grandfathers collection and what I collected. If my kids get pissed about so much of the estate value going to some one else tough I've talked to both of them several time and told them I really don't want them just sold off for the money.