Do you plan on getting rid of your guns before you die?


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usmarine0352_2005
April 10, 2012, 01:02 PM
.

If you are getting up there in age and know you are closer to not ever being able to ever use your guns again do you plan on giving them away to friends/family and/or selling them?





The reason I ask is because my father had to be put into a nursing home rather abruptly because his mental health went downhill suddenly.



He owned a lot of guns and his medical care is thousands of dollars a month. We needed to sell his guns and almost everything else to take care of him. My dad was also into model trains and other stuff. Luckily we have friends who were able to hunt and fish and were able to help us liquidate all of his guns. We kept 2 for personal reasons but sadly all of the other ones had to go. He had a rather large and extensive collection. However, he hasn't shot a gun or driven in nearly 10 years because of his deteriorating health. We would have sold most of his guns awhile ago but he wouldn't have any of it and I can understand why.


My mother, brother, and I are big hunters/fisherman and love guns but we couldn't afford to keep his collection.


I can tell you though that liquidating his gun and train collection was a lot of work and it took time. If we hadn't had help from great friends it would have been much worse and we would have made much less money. I can't imagine how hard it would have been for someone who isn't a gun person to sell everything.



I know a large amount of my dad's gun collection was bought from an estate sale where the father passed away and the only son had no interest in owning guns. My dad got some very good deals from there I hear. If your kids have no interest in guns I can see why it would be different than if your kids were.




So, I think that if I get older and know I won't be living much longer I will want to give my most personal guns away to friends and family and sell the others while I know what they are worth so that my family doesn't have to go through the trouble of attempting to sell everything and judge their value after I'm gone. Unless of course my kids want all of my guns, they will get them all. I just don't see that happening for anyone though.



What about you?
.

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wannabeagunsmith
April 10, 2012, 01:03 PM
I would put it in my will, but Godwilling that is a really long way off.

Rail Driver
April 10, 2012, 01:05 PM
I plan to ensure that my children each get at least one firearm from me before/when I die. The rest of them will be sold or auctioned off.

bigfatdave
April 10, 2012, 01:19 PM
some would be passed down or gifted
I'd probably keep one rimfire and one centerfire handgun and rifle for myself

the rest could be sold once I stop enjoying them

Teachu2
April 10, 2012, 01:19 PM
I hope to pass most of my guns - and other assets - on to family members while I'm still able to enjoy the kids enjoying the assets. THIS NEEDS TO HAPPEN AT LEAST FIVE YEARS BEFORE I NEED LONG-TERM CARE. Why? Because if I do that, it preserves my estate so that Medicare will pay for my nursing home - and I'll get exactly the same care as if I were paying out of my estate.
I'm going through this with both parents. They cost about $75,000/year each in costs that would have been covered 100% by Medicare. That's $750,000 that could have been used by their families....and they are getting the same care in the same facilities as those with no assets get from Medicare.
We all have living trusts in place. I encourage you all to explore that, if you have assets.

Shoobee
April 10, 2012, 01:23 PM
By the time we are all feeble enough to be worthy of death, our hunting days would be over with, no matter what you are hunting, whethere game or zombies, and so you and I should have distributed or sold our rifles by then.

My shotgun is going to my nephew who is a shooter and does not have a shotgun.

My rifle is going to my other nephew who is a hunter but does not have a rifle.

The .44 revolver will go with the rifle.

And the .45ACP I will die with it under my pillow as usual.

Most old men do not plan ahead sufficiently and therefore it is common to die with a slew of firearms, and then your poor widow has to deal with them. I have seen it too many times.

It is called "in denial."

As Achilles said in The Illiad, and as Someone Else said when He was talking about to the dust thou shalt return, everyone dies, whether now or 50 years from now. Might as well get a grip on reality sooner rather than later. Nobody lives forever.

forestdavegump
April 10, 2012, 01:30 PM
My kid will get them, we share alot of them now. But I got allota miles left!

usmarine0352_2005
April 10, 2012, 01:32 PM
I hope to pass most of my guns - and other assets - on to family members while I'm still able to enjoy the kids enjoying the assets. THIS NEEDS TO HAPPEN AT LEAST FIVE YEARS BEFORE I NEED LONG-TERM CARE. Why? Because if I do that, it preserves my estate so that Medicare will pay for my nursing home - and I'll get exactly the same care as if I were paying out of my estate.
I'm going through this with both parents. They cost about $75,000/year each in costs that would have been covered 100% by Medicare. That's $750,000 that could have been used by their families....and they are getting the same care in the same facilities as those with no assets get from Medicare.
We all have living trusts in place. I encourage you all to explore that, if you have assets.



Wow. That's good to know. Thanks. Great info.
.

Larry Ashcraft
April 10, 2012, 01:39 PM
A few years ago my wife and I talked about this. We decided to give some of them to the kids NOW, instead of leaving them.

So we wrapped up a few and made Christmas gifts out of them.

Rob62
April 10, 2012, 01:50 PM
As the end draws near for me, if I see it coming, I will be selling off most of my firearms.

Some will be given away to family and of course those that are my kid's already will remain for them. But overall I see no reason to keep a bunch of my collection and the family does not have much interest in them.

Teachu2
April 10, 2012, 02:04 PM
Most old men do not plan ahead sufficiently and therefore it is common to die with a slew of firearms, and then your poor widow has to deal with them. I have seen it too many times.

It is called "in denial."

As Achilles said in The Illiad, and as Someone Else said when He was talking about to the dust thou shalt return, everyone dies, whether now or 50 years from now. Might as well get a grip on reality sooner rather than later. Nobody lives forever.

So very true. You should see what happens when an avid model airplane guy dies! I've been disposing of my "collection" for the last nine months, and I'm about 80% of the way through what I can sell - and I've given away over a dozen.... I've converted 20+ years of acquired hobby items to cash, at reasonable prices, and then converted most of that to guns. :D

My wife is relieved, to say the least. She wouldn't have known where to begin. Most of what I had were collectable kits, long out of production, and hard to price unless you really know the market. Guns? She knows those well enough to find market value - but our kids shoot, so she'll pass 'em on. What they don't want (HA! - Like there will be ANY of those!) can be consigned at a local shop.

Our plan is to run out of money shortly after we are unable to enjoy it. When we can't ride our Harleys anymore, it'll be time to shelter and/or pass on assets.

Most people plan for after their death - but ignore managing the transfer of assets while they are alive. This is an expensive mistake.

nosmr2
April 10, 2012, 02:09 PM
I would prefer to pass down most to relatives. However, the number of relatives younger than me is slim. Assuming my daughter has a son or daughter that enjoys shooting I will pass them down to them. I'm 40, she's 8, so doing the math, if she has a kid at 18 (I hope not) I would have a grandkid at 56 that would have shown an interest in shooting and that's on the early side of it. So maybe they would wind up with some of them. If not, probably sold before I'm too old to sell them for what they are worth.

Mike Sr.
April 10, 2012, 02:11 PM
Right now I am in my mid 60's and for the last yr or so I have been thinking about the same concerns presented here. This is my 2nd month retired so I have been cullling my heard. For sure my kids have ""absolutely no clue"" on the 'real' value of the guns I've collected over the last 40 yrs.

Last month I bought my sons 2004 Jeep Rubicon, 74,440 miles on it, and I have been restoring it to it's proper glory!!! Glory in the sense that I think 04' was the last yr for the 4.0 motor and it has a 4spd Auto, and I though I heard or read that most had 3spd auto's but I am not sure on the accuracy of the 3spd's.

http://i283.photobucket.com/albums/kk313/thissignupishorrible/2004%20Rubicon/IMG_1819.jpg


Well, guess where the restoration money is comiing from...you guessed it! I am selling some of my 'stuff' mostly the 3rd of triplets. So far most everything underneath has been replace w/new better aftermarket parts. Already have a JKS body lift kit and the next episode will be a suspension lift kit...about 3-inches. After the Suspension kit a few more modifications and I will be done. Pretty sure when all is restored I'll have approx $2600-$3200...and I 'could' stilll sell if in the mid 15's if I want to....

So this is where part of the gun collection is going: into the Rubicon. When completely done I'll sell my F150 4x4 then I can focus on buildiing up my 6.0, 4x4, 1/2, 07 Surburban.

As most of you know I am a stainless afficianado, so I still buy good, stainless guns. But I have so much gun stuff, I am almost ashamed to admit it. And during the next few months I be gathering, counting and deciding what to keep, what to give away, what to sell.

Right now trying to get my Grandson Ethan heavily involved in fishing; a month ago I was teaching him checkers and chess. And the little brat after two days was beating me in checkers and on a 3rd day I am sweating a chess game...he picked up all the correct chess moves in 3 days...he's EIGHT...grrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr

Maybe I should tell him how I waxed Boby Fisher, maybe that would scare him...heheeeeee


For sure before the yr is over I will have all sorted, divided and directed where certain guns go. This does not count the two duffle bags of Bucks and Gerbers I have managed to acquire...phewwwwwwwwwwww.....these knives are going also.


Yes, I am not going to have heartburn about who gets what, I am not going to wait till I am room temperature to get this settled. I am going to enjoy their using my stuff while I am still here to do so...

The family on my Dad's split up, broke up, quit talking w/each other when upon my grandparents death the FIGHT FOR THINGS became blood letting...when I was 15...this was burned into my memory....

I am not going let that history be my history.

cambeul41
April 10, 2012, 02:37 PM
I don't have a great many guns; my kids have expressed no interest; my wife is 18 years younger; she claims them all; so I will let her worry about it.

The family on my Dad's split up, broke up, quit talking w/each other when upon my grandparents death the FIGHT FOR THINGS became blood letting...when I was 15...this was burned into my memory....

Something similar happened in my father's family, but not so bad. My parents, to avoid such things, ordered the five of us to sit down together to draw up an agreement specifying who got what. It worked.

Jonah71
April 10, 2012, 03:25 PM
Yes...IF I have the time. Well, I know where 12 of them are going anyway. The "leftovers" will be given to a good friend to sell or do whatever he sees fit to do with them. I really don't have any close family members who like to shoot handguns. I already have signed paperwork with serial numbers etc. All that's left to fill in is the date. If I'm gone suddenly, there is someone with a key, the neccessary letters to gain entrance, and instructions. The reason I say 12 is that there are only 10 I plan on never selling and 2 I'm asking so much as to discourage an actual sale. I just didn't want them sold by a relative who doesn't understand the market value of guns or appreciate them.

tech30528
April 10, 2012, 03:30 PM
NFA trust for the guns
Real estate holding LLC for the property
Long term disability coverage for the health expenses

The kids don't inherit the guns, they are owned by the trust and they are trustees.
The kids don't inherit the real estate, they get promoted from nonmanaging members to managing members of the holding company as a provision of my will and don't pay any inheritance tax. If they decide to sell off properties all they pay is capital gains.

The odds of needing disability care after the age of 60 is high enough to pick up disability insurance in your late 50s so that your kids will be protected. Nothing against the OP, most people don't know that these are things they can do before the time comes. But if you know these things ahead of time there are things you can do to protect them. The NFA costs $550 to set up. I've got several rifles worth more than that. The holding company cost $1000 to set up and allows us to purchase our retirement home pretaxed without it showing anywhere as a personal asset.

Think about Social Security. Benefits are being scaled back every few years. Nobody is going to dump it, that would be political suicide. Nobody is going to fully fund it, that would also be political suicide. I can see a day when you will have to prove need to get it and that will require an audit. If you own too much, you will be ineligible. You don't need to own things to have full control of them.

usmarine0352_2005
April 10, 2012, 04:00 PM
NFA trust for the guns
Real estate holding LLC for the property
Long term disability coverage for the health expenses

The kids don't inherit the guns, they are owned by the trust and they are trustees.
The kids don't inherit the real estate, they get promoted from nonmanaging members to managing members of the holding company as a provision of my will and don't pay any inheritance tax. If they decide to sell off properties all they pay is capital gains.

The odds of needing disability care after the age of 60 is high enough to pick up disability insurance in your late 50s so that your kids will be protected. Nothing against the OP, most people don't know that these are things they can do before the time comes. But if you know these things ahead of time there are things you can do to protect them. The NFA costs $550 to set up. I've got several rifles worth more than that. The holding company cost $1000 to set up and allows us to purchase our retirement home pretaxed without it showing anywhere as a personal asset.

Think about Social Security. Benefits are being scaled back every few years. Nobody is going to dump it, that would be political suicide. Nobody is going to fully fund it, that would also be political suicide. I can see a day when you will have to prove need to get it and that will require an audit. If you own too much, you will be ineligible. You don't need to own things to have full control of them.


Very good info.



Yes, I don't know much about this kind of thing. My mother is handling all of the stuff regarding my father. Both are fairly young, in their early 60's.
.

tech30528
April 10, 2012, 04:47 PM
Well, these are the kinds of things that you find out about when you complicate your life lol. I own an auto repair business and have been thru Dave Ramsey's Financial Peace course. The disability (long term care) insurance is his idea. The real estate holding company was my idea after loosing a home to foreclosure in the infancy of the business. Ran the idea past my accountant and her lawyer and they liked the idea so much they did it first. Turns out it's not all that uncommon. I did it thru a different lawyer. You can do it without one, but the advantage is that doing it thru the lawyer "masks" your company behind the attorney's office which makes it that much more difficult for anyone to discover who is the actual owner for liability reasons. The NFA was suggested by a friend who has a lot more toys than I do. I'm more or less just getting started. But I'm only 43 and plan on retiring when I'm 55. Fate favors the prepared mind. ;)

tech30528
April 10, 2012, 04:53 PM
I hope to pass most of my guns - and other assets - on to family members while I'm still able to enjoy the kids enjoying the assets. THIS NEEDS TO HAPPEN AT LEAST FIVE YEARS BEFORE I NEED LONG-TERM CARE. Why? Because if I do that, it preserves my estate so that Medicare will pay for my nursing home - and I'll get exactly the same care as if I were paying out of my estate.
I'm going through this with both parents. They cost about $75,000/year each in costs that would have been covered 100% by Medicare. That's $750,000 that could have been used by their families....and they are getting the same care in the same facilities as those with no assets get from Medicare.
We all have living trusts in place. I encourage you all to explore that, if you have assets.
Definitely look in to the holding company LLC and the LTC insurance. Even if you are still paying for your home you can deed it to the holding company and make the payments from the "rent" you charge yourself. In my case my business will pay rent to the holding company even after the building is paid off, and the holding company will use the money to pay for my home. The business writes off the rent as an operating expense, so it is pretax, and the holding company never shows a profit, so it has no tax liability since LLCs are tax thru entities.

mrcooper
April 10, 2012, 04:54 PM
I have no one in the family that is interested in my guns other than to sell them and spend the money.:cuss:
So if i can i want to take them all to the mt and find a good clif to toss them over.:neener::neener::neener:

tightgroup tiger
April 10, 2012, 04:58 PM
I am in my early 50's now. I inherited my fathers and my father in laws guns both. I have about 18 pre 64 rifles and my pistols range from 1929 to present.

My son(my only child) will inherit all all 27 of my guns, the difference here is he already wants them and I'm not dead yet. Hopefully not for a while.

When I discover I am terminally ill he will get alot of things very quickly, my wife obviously will be taken care of as she is the one with no interest in my guns.

But some of those guns were her fathers and even though she doesn't care for them she also won't part with them for that reason.

I don't know how this will work out when I go but I know this, I WILL BE WATCHING. And I already told her this so she better do the right thing and make sure my son get all but the pistol she will need to protect herself with.

I've already picked it out of my collection and I am starting to train her with it weather she likes it or not. It may save her life some day after I'm gone and she has recognized this.

I will do like my father before me, when his time got near he told me to get over here and get this stuff out of here before he passes. It was very hard to do because taking them meant he was going to die soon and that really hurt but it was his wish so I sucked it up and loaded them up.
My mother made sure I took them before I left that day.
I have never sold any of them and my son has told me that he won't be either. My father's guns are how I remember him when I get them out and look at them. My father in laws are the same for me.
To me those guns are their memorials.

N003k
April 10, 2012, 05:01 PM
Long way off for me still, but my plan is pretty smiple. Once I get too old to shoot them, I'll either pass them on to any children I have that I believe will enjoy them, or find someone that will! I'd rather at least some of them become family heirlooms that continue to get passed down as they become antiques, so, I'd want to be sure that any family member that recieves them would enjoy them, and not have to sell them.

Of course, that's in a perfect world, way too soon to see if things will work out for me in that regard!

JVaughn
April 10, 2012, 05:07 PM
Wife said she would bury me with my sidearm and and my pocketknife, along with two extra mags, just in case. She's a good wife.

The rest she can have, keep, sell, whatever she wants.

glock2211
April 10, 2012, 07:08 PM
I'm gonna pass most on and a few are going in the ground with just in case lol!

Nicky Santoro
April 10, 2012, 07:20 PM
No. I have them listed by serial number as a codicile to my will as a bequest to my daughter. In that way we bypass all the ridiculous NJ permit/FOID nonsense that would normally be required for her to take ownership.

Arkansas Paul
April 10, 2012, 07:53 PM
I have enough family that is into shooting to leave them to. I reckon that's what I'll do.

Rembrandt
April 10, 2012, 07:53 PM
Been giving away some as Christmas gifts to the kids for a few years now.....getting harder to disguise those long boxes under the tree. Still have around 70 more to give away. Most are designated for individual grand children that have shown interest in a particular piece.

Ignition Override
April 10, 2012, 08:07 PM
A large retirement complex in northeast San Antonio - The A.R.C. (west of Randolph AFB)- prohibits possession by residents. My mother-in-law is there.

Is this a standard rule at retirement complexes?

Spaceman Spiff
April 10, 2012, 08:19 PM
Right now I am in my mid 60's and for the last yr or so I have been thinking about the same concerns presented here. This is my 2nd month retired so I have been cullling my heard. For sure my kids have ""absolutely no clue"" on the 'real' value of the guns I've collected over the last 40 yrs.

Last month I bought my sons 2004 Jeep Rubicon, 74,440 miles on it, and I have been restoring it to it's proper glory!!! Glory in the sense that I think 04' was the last yr for the 4.0 motor and it has a 4spd Auto, and I though I heard or read that most had 3spd auto's but I am not sure on the accuracy of the 3spd's.

veeeery nice looking rubi, i must say...i just checked the wiki for info on the tranny and '03-'06 had the 4-speed auto...personally i'm a manual guy so i always look for '05-'06s with the 6-speed (was a 5-speed prior)...'06 was the last year for the 4.0, too...

as for guns and kicking the bucket, there are a few in my family that have traveled down the generations and i like that idea so i don't see getting rid of mine, but i totally understand having to raise funds for medical expenses when necessary...it's a hard thing to do, but those bills are huge, i've seen them first hand...

theautobahn
April 10, 2012, 08:43 PM
Last weekend I went over to a friend's house. When we walked into his "toy room" ALL of his guns (40+) were gone. Turns out he has lung cancer (we didn't get into details but it doesn't sound good) and is getting rid of all his excess stuff (four wheeler, sleds, kayaks, etc.) to make life easier on his wife when he dies.

Manny
April 10, 2012, 08:49 PM
This concern is why I don't get carried away with accumulating a lot of guns in the first place. I'm single with no kids, most of my family other than my youngest brother are not shooters. My best friend and youngest brother are really the only shooters of close aquaintence, with one young nephew a possibility and two Godchildren. I'm guessing I will look to pass on to them or maybe donate my target pieces to my gun clubs youth program.

What I own doesn't come close to filling up my medium size safe, and I'm reducing it from there. All are working guns with plastic stocks, dull finish etc.. no heirlooms to pass along. I may reduce even more going forward, but we'll see. I will have at least a core group of guns for as long as I'm able.

Vern Humphrey
April 10, 2012, 08:53 PM
My daughters have instructions to bury me with my.45 and bowie knife.

I don't know where I'm going, but I want both hands full when I get there.:evil:

303tom
April 10, 2012, 09:07 PM
No...............

usmarine0352_2005
April 10, 2012, 10:03 PM
No........




What are you gonna do?
.

Millwright
April 10, 2012, 10:54 PM
Dealing with that now !

Lotsa guns but no one to shoot them ! >MW

Vern Humphrey
April 10, 2012, 11:11 PM
Send them all to me -- I will keep them nice and warm.;)

22-rimfire
April 10, 2012, 11:15 PM
I hope to sell all but about perhaps 10 guns. Those can be given to family. I'll be dead of course and won't know the difference.

whalerman
April 10, 2012, 11:26 PM
Sorry to have to make some corrections here, but. Teachu is a bit off on some of his statements. First off, he says any transfer of firearms has to take place at least 5 years before any need for nursing home care. Sorry, but that figure is now 7 years, and likely to increase without notice. In this age of government melt downs due to dishonest claims be Washington watch this number very carefully. It WILL change. Also, it is not Medicare that pays nursing home bills, it is Medicaid. You have to be, on paper, poor for the government to pay for long term care. You have to plan far ahead for this. Again, 5 years isn't enough. Talk to an estate planner, a lawyer who is experienced in these matters. DO NOT WAIT. If you do you will be paying for all the folks who never planned for anything in their lives. If you act today, you better hope that nothing happens to you for at least 7 years. Are you sure that will be the case?

Agsalaska
April 11, 2012, 01:51 AM
Im in my thirties so have not given it much thought. I have a very good friend who owns a gun shop and would do the right thing for my wife and kids. He would sell the guns that should go and tell my wife to keep the guns that are investments.

That all beign said other than one night over one too many beers, we have never really talked about it. As much as I travel it would probably be a good idea to say something to him again, although he would immediately take on that responsibility anyway if something happened to me.

Hacker15E
April 11, 2012, 07:02 AM
Let's not forget that "someone" pays for Medicare and Medicaid -- it's not free.

That someone is you and I, the physically able taxpayers.

Sav .250
April 11, 2012, 07:15 AM
If you have a will, then you can control where they might go.
If you sell them off prior to your demise, you can still control where they might end up plus the money received can be used for what ever.

Just don`t leave the "collection" to others with out some sort of direction.

Bubbles
April 11, 2012, 07:53 AM
I have a very good friend who owns a gun shop and would do the right thing for my wife and kids.
Hopefully your wife knows who he is.

And for those of you with a decent collect, leave a list with the values in your safe so your heirs don't get ripped off if they do decide to sell the guns.

dprice3844444
April 11, 2012, 08:01 AM
imma never gonna die

Sheepdog1968
April 11, 2012, 10:14 AM
My wife Nd I had a conversation not not that long ago about the ones that are special that I'd like to go to family and the others that I really don't care as much about. I'm in my mid 40s and right now I plan on keeping what I have till I die. As I get older I might be more specific in determining who gets what but I'm not loosing sleep over it. Id like things to go to folks who would appreciate and enjoy them.

Ryanxia
April 11, 2012, 10:37 AM
Dunked in cosmoline and sealed in a drum and buried in case my kids/grandkids/great grandkids need to start another revolution. :D

Seriously.

phil dirt
April 11, 2012, 01:01 PM
I will be 69 on my next birthday, and it has just in the last year or so occurred to me that I should be getting rid of my collection now instead of leaving them for my wife to deal with. I'm still in good health, but I've started to lose sleep over what to do with them since I don't have anybody to leave them with who is interested in guns and shooting. I don't shoot much anymore, anyway. I've been selling mine at the Puyallup gun show and plan to get down to just a few for home defense. One of my biggest concerns is getting rid of the ammo that I've accumulated over the years. That stuff is heavy and both of my knees are wearing out, so Im lugging it out of the basement and selling it off, too, while I'm still able to do so.

wannabeagunsmith
April 11, 2012, 01:15 PM
Nice Jeep, Mike. :)

Stevie-Ray
April 11, 2012, 03:43 PM
I've only done an inventory that shows current values, so the wife doesn't get too cheated should I die suddenly. Nobody in the family is into guns, save my nephew, who will probably get a few. But several are worth quite a bit, so I may sell them when I find myself too old to enjoy them if that day ever comes. I've also discussed with the wife leaving them to the NRA. I'm hoping I have a good bit more time here, though.

jaysouth
April 13, 2012, 09:08 AM
I have a friend in Virginia who buys large quantity collections from estates.

In several instances, a widow has contacted him and had the guns removed from the house BEFORE the funeral. At pennies on the dollar, of course!

Personally, I have been disposing of my militaria collection and some guns. The only people who will appreciate my treasures as much as me are collectors who will pay my price for them.

DO NOT EVER DONATE ANYTHING TO A MUSEUM!!!!!!!!!! Your treasures will either be sold to finance what the museum covets or buried in the sub-basement.

AirForceShooter
April 13, 2012, 09:16 AM
By the time I die I expect to own 1 gun.
All the others will have either been sold or given away.

The last one will be my wifes bedside gun

AFS

Cesiumsponge
April 13, 2012, 11:06 AM
I have everything arranged in my trust. It bypasses the probate process of items in a will so no public record. I would consult am estate lawyer if you want to do this type of planning. You don't want your beneficiaries to inadvertently break laws if you're rendered incapacitated or pass away with a safe full of tricky NFA items.

commygun
April 13, 2012, 05:47 PM
If they are still interested I will slowly give my two sons my collection as they go through their 20's and 30's, keeping whatever my aging self can handle for self-defense. If they're not interested I will slowly sell them off and treat my wife and myself to a series of gut-busting Tex-Mex dinners. Either way I hope they're gone by the time I die.

Oh, except for the Glock. I'll have that cremated with me. It'll melt, right?

beatledog7
April 13, 2012, 07:31 PM
One of my biggest concerns is getting rid of the ammo that I've accumulated over the years.

If I have fair warning that I'm about to kick over, getting rid of my ammo will be the best part of getting ready to die.

hepclass
April 13, 2012, 07:49 PM
sorry for your friend. this is my first post on this site and this thread really hits home!!! younger gen . just does not care about sentimental value of things, i do not know what i am going to do with all my things.kids are 28 and 30 still living with mom . they do not even have a place to store books . sorry but this though sucks big time.

tekarra
April 13, 2012, 08:00 PM
I am selling off most of my guns, having gotten rid of most of the rifles and shotguns as I have not hunted in some years. Gave a few away to siblings. Have also been slowly selling off the handguns and reloading stuff to leave less work for the wife. At first it was difficult to let them go. but then nothing is forever.

Sauer Grapes
April 13, 2012, 09:09 PM
I already started this week. I'm still enjoying my guns and shooting. I don't have any kids, so most of them will be sold, one way or the other. I have nade a list of all my guns and priced them to sell if something "sudden" were to happen to me.

I do have a nephew that has shown some interest since he has bought a pistol for CCW. I just gave him one of my S&W 5906's and my father's Colt Targetsman .22. Someday down the road I'll probably give him his choice of something else in my collection.

Rontherunner
April 13, 2012, 09:37 PM
I hope to pass most of my guns - and other assets - on to family members while I'm still able to enjoy the kids enjoying the assets. THIS NEEDS TO HAPPEN AT LEAST FIVE YEARS BEFORE I NEED LONG-TERM CARE. Why? Because if I do that, it preserves my estate so that Medicare will pay for my nursing home - and I'll get exactly the same care as if I were paying out of my estate.
I'm going through this with both parents. They cost about $75,000/year each in costs that would have been covered 100% by Medicare. That's $750,000 that could have been used by their families....and they are getting the same care in the same facilities as those with no assets get from Medicare.
We all have living trusts in place. I encourage you all to explore that, if you have assets.
I'm guessing you meant Medicaid, not Medicare for long term care? I wasn't aware that Medicare pays for nursing home care, except in the 30 days immediately following a hospital stay of at least 3 days...?

Legionnaire
April 14, 2012, 09:11 AM
If God allows me to age gracefully, I plan to downsize my collection as my strength wanes. I'll hang on to a minimalist set until I can't shoot any more (my FIL is in his 80s and still hunts). My kids with interest will have opportunity to select something. I don't have anything of sentimental value, so no point in pretending to "pass on a heritage" that way. And if I don't need the money for something else, I'll probably donate what remains to a local club to help them raise funds.

Ohioan
April 14, 2012, 09:39 AM
I'm 30. I don't really have a collection per se. A handful of basic self defense guns, a muzzle loader i built myself, and a muzzle loader a very close family friend gave me.

There is no greater honor than an elderly friend showing up, out of the blue, at your door with a muzzle loader that he had built and saying "I want you to have this, I know you'll appreciate it." This same friend gave me some tools, a powder horn and other muzzle loading items because his children never had any interest, and i had been picking his brain for years.

If you're going to give your guns away, give them away while you're still alive. Honor your friends and relatives with gifts. Getting something after someone is deceased is nice, but when someone gives you something before they won't ever use it is a great honor.

I plan on giving my firearms to my son, if he's interested in them, not the monetary value they hold. Or, if not him, any friends or relatives who are interested.

A lot of you guys are looking at your collections as investments, with high dollar 1911s, gold plated special edition firearms etc. So that definitly changes what you're going to do with them. Right now, everything i own is utilitarian. So they'll be gifted. Now if i start collecting, then i'll probably liquidate things in 30 years or so, provided i'm still allowed to own them.


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WIKD
April 14, 2012, 11:37 AM
A very interesting question. I had not really thought of it before but now that the question comes up I will have to. I'm not sure whether my step son would value the collection I have and since he is the only one to hand it down to it may be smarter to give him the couple that mean the most to me and liquidate the rest.

4v50 Gary
April 14, 2012, 03:20 PM
Some are going to museums or National Battlefield Parks whee they may be used by rangers/reenactors to teach visitors. They're riel picas and not antiques so they're all suitable for handling without cotton gloves.

T Bran
April 14, 2012, 03:38 PM
I have no children so I'll take them with me when I go. A very dear friend has a machine shop and I've been thinking about having them all mig welded together in the shape of a casket. Just need one more break action shotgun to complete the hinge assembly.
Wonder what thats going to weigh. [ Just kidding pretty cool concept though ]
I have been saving a few things for the nephews/nieces to get old enough mostly family heirlooms. The rest can be sold off or kept by whoever survives me.
Sorry for the ribbing but this is such a depressing subject it needed a little levity.
T

BigN
April 14, 2012, 05:12 PM
If I become old and disabled enough to where I can longer get around to shoot, I'll give them away. If not, then my daughter will get them in the will. Her husband is a shooter and he's in for a real treat.

Ignition Override
April 14, 2012, 07:55 PM
No, although unanticipated medical costs years from now could easily bankrupt most people, requiring a sale.

My wife is way too smart to ever consider selling to a pawn shop, or a gun shop. Most would probably try to cheat her out of over half of their value.
Hopefully my son will one day become interested in them, but he was gone to college before my interest in guns even began, and then he stayed in town with his mom.

tubeshooter
April 14, 2012, 09:22 PM
No. Right now the plan is to let my brother, daughter and best friend have at whatever they want. I have a cousin that shoots too, if he wants anything I'd like to see him get it.

Only the best friend and cousin are "into" guns, although I'm sure my brother and daughter will take a piece or two.



Past that, it's whatever. I'm gone anyway.

Romeo 33 Delta
April 14, 2012, 09:25 PM
I'm cruisin' toward the Cocktail Hour of Life and someone's greasin' the skids!

I've been an avid collector and shooter/reloader for decades and at 67, married, no kids, good health, I'm anticipating many more eventful years.
However, God may have other plans.

As much as I love collection, shooting, reloading, my guns are just "stuff", like any of the other "stuff" I've collected over the years (guitars & amps).

"Stuff" is what you can't take with you when you check out for the last time. (I checked into a Treasure Tomb ... herself said: "No way!" ... end of discussion.) If you have family that are interested in your firearms ... great. If not, that's OK too. Afterall, it was YOUR hobby, not theirs. If they'd rather have the money, don't feel bad. Your guns are going to be sold and bought by other, younger collectors who will likely love any particular one or a number of your guns every bit as much as you do. Nothing wrong with that, is there? Isn't that what it's all about ... giving them a good home?

You see, most of my collector firearms did come from a previous collector ... in some cases, multiple collectors. I'm THRILLED that someone opted to put them on the market so I could own some of them.

Just my 2 cents worth and worth about that much ... but from the heart!

P5 Guy
April 15, 2012, 04:36 PM
Almost all, hopefully will be sold off before I shuffle off the mortal coil so to speak. At fifty six single with no children, I have been selling the queens of the safe. Planning on having a chosen two or three, sooner rather than later.

moewadle
April 15, 2012, 06:34 PM
Special under my laprobe at the nursing home.

Ignition Override
April 15, 2012, 06:44 PM
When did nursing and retirement complexes begin allowing guns, or is the prohibition only at some of them?

valnar
April 15, 2012, 07:48 PM
I'm not an expert on trusts, estates or legalities, but what is the purpose of putting it all down on paper for lawyers to discuss? If I simply told my (adult) kids where the guns are, so that if I lose my mind or kick the bucket, they could simply go in and get them. Put them in their own house. As far as anyone else is concerned, they were never there. I want my kids to have them anyway, so they can make the decision whether to keep them or sell them for money. It's not like in the State of Ohio that anyone has a record of what I purchased.

Why treat my guns different than any other asset, like a toaster or television. Am I missing something?

VancMike
April 16, 2012, 12:37 AM
Commygun: "If they're not interested I will slowly sell them off and treat my wife and myself to a series of gut-busting Tex-Mex dinners....."

So you're going out with a bang with or without firearms???!!!! :what: :eek: :fire: :D

scythefwd
April 16, 2012, 07:13 AM
Yes, they will be passed to whatever family member takes the most interest in shooting. I'm not even near that age.. but I'm not kidding myself... I'll probably succumb to dimensia, just like the rest of my family so it's nice to have a contigency plan.

Bubbles
April 16, 2012, 08:55 AM
Why treat my guns different than any other asset, like a toaster or television. Am I missing something?
Some states have firearm registration. Also, anything Title II should be mentioned in the Will so it can transfer tax-free on Form 5 to the heirs, and machine guns are quite valuable.

Grousefeather
April 16, 2012, 09:36 PM
I plan on keeping any govt policies out of any determination of my estates be them guns, property etc. At the proper time I will, If I can, determine what happens to my goods. If not I will leave explicite inststructions.

WALKERs210
April 16, 2012, 10:52 PM
My wife knows the rifles that I intend to leave to my grandson. The rest have a fair price next to detailed description. Also we have friends that have already said they would help and get the highest price they could at no charge. Really I was looking for a casket large enough for 40-50 guns and then stick me in there too.

22-rimfire
April 16, 2012, 11:16 PM
I keep waiting for a "sign" that it is time to sell... I guess the first heart attack I have (and hopefully I survive it), I'll start selling a lot of things off as I figure my days are numbered at that point... of course, they are anyway no matter how you want to dress it up.

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