Guns Legacy

[Kurt S.]

I hope this is the the right forum to bring this up in.

My wife and I had wills prepared about 4 years ago. The lawyer that prepared the wills said that the best way to deal with my modest gun collection (about 40 guns) was to put how I wanted to distribute it in a "memorandum" to my will, which I would have to prepare myself. She could have done it but let me know that it would save me legal fees and it could be changed very easily.

There are plenty of resources on the web that tell you how do a memorandum so that's not what I'm worried about. None of the guns are extremely valuable.

I have no natural children, but 2 stepkids that I love and who consider me their Dad. I have a boatload of nephews and nieces.

I was thinking that for any of them who manages to make it to my farewell party, they could kind of sit around in a circle and take dibs on the guns they want; a raffle if you will. There is a problem because my favorite nephew got into some trouble a few years back and is a convicted felon now.

The other thing I could do is just consign the guns, sell them, and put the proceeds into my estate. Problem is, I have had discussions with my potential heirs and most of them have said they'd like something from Uncle Kurt to remember him by.

Anybody have any ideas?

 

[PabloJ]

A person needs four handguns, three rifles and two or three shotguns. I would move most of that inventory while still alive if I were you. Forty guns is not what I would consider portable asset.

 

[BigBore44]

Remember a gun doesn't have to be valuable to be valuable. If a nephew wants a particular gun, ask him why. If the answer is "it's worth the most money.", I wouldn't give it to him. That's just me though. If it's a gun they have made memories with you with, then that is worthy answer.

Some of them may not want any guns.

In our family, handed down guns don't leave the family. They can be sold. But only to family members.

 

[David E]

Don't fo a rifle raffle.

My dad didn't specify squat and sudddnly, my two brothers that never bought a gun in their life were suddenly avid gun enthusiasts.

Many of the guns dad had were because of me, but we had to divide them anyway. One gun we never found.

This was in 1993......one brother has yet to fire a single one while the other brother hocked and lost them.

Depending on your age, decide how many YOU need and give the others away as you go. That way, you insure the right gun goes to the right person and you get to enjoy them using it. At the very least, write down your wishes.

 

[StrawHat]

I, too, am approaching the age where I am wondering what to do with the firearms I own. What I have decided will work for me is to go shooting with those I cherish and see which firearms are preferred by whom. At some point, those firearms will be given to them, while I am still alive to help them learn more about them. This way, I will not anly be able to give away my accumulation but also the knowledge of each of the pieces and the history.

Just something for you to consider.

 

[Bluelight]

The lawyer preparing our wills also advised the memorandum approach to distribute property that you may want to leave to a specific person. This would include the firearms as well as jewelry, tools, or keepsakes that may mean more to one than another. Attached to the will it would have the same force as the will itself.

I do agree with PabloJ though about giving it away while still alive.
I just did that by giving a "Christmas present" to my daughter.

 

[Lex Luthier]

My will designates specific weapons (including guns and honed edge) to specific people, and the balance of all the gear (including accessories, tactical gear and ammo) to a very lucky and blessed brother in arms.

 

[Jim Watson]

Lacking blood relatives, I am thinking about letting my shooting friends draw numbers and pick guns and gear in random order.

Kurt, do you have a muzzleloader the black sheep nephew could have? OK under federal law, check for state restrictions.

 

[JTHunter]

Kurt S. - why don't you give each relative a chance to choose the "Top 10" guns they like and keep a record of that until all in-laws have chosen. Then you divide them up based on their preferences and make a list of those guns for each relative. They get a copy so they know what they are to receive someday and nobody feels left out.

 

[Hurryin' Hoosier]

A person needs four handguns, three rifles and two or three shotguns.

Oh, shoot! I'll have to adjust my inventory. Thanks, Pablo. We can always count on you to explain the rules.

 

[Kurt S.]

Thanks, y'all.

Well, StrawHat, one problem is, I am here in far west Texas, my closest relative is my niece in Houston 600 miles from here. I've got one nephew in Oklahoma. My other nieces and nephews live in south-central Kentucky and there is a boatload of them.

I don't feel like I'm that old (64) so I don't want to start disposing of my guns right now. I retired with the idea that I was going to be able to start shooting some of these toys.

BigBore44: like I said, I don't have anything really valuable. Unfortunately, my kinfolk just seem to like me for who I am (wish my wife felt the same!), they seem to just want something from Uncle Kurt...they ain't gettin' any money, that's for sure!

I kind of like JThunter's idea, truth be told.

Jim Watson: I'm kind of hoping that black-sheep nephew can get his problems taken care of before Uncle Kurt goes away. He's actually got some black-powder guns, which apparently is no problem where he lives in Kentucky. I have already told him I'd help him with getting his rights back, but he's got a ways to go.

 

[BigBore44]

Kurt,
We have a couple guns that are pretty valuable. One in particular. An original, fully functional, Colt 3rd Model Dragoon that my great, great grandfather used in the civil war. That gun goes to either myself or my brother. Neither of us care which one gets it because it's not going anywhere. All the others except one are under $1,000.

My most precious guns however are my grandfathers Winchester Model 50 12 gauge and Smith model 10 .38. The guns aren't valuable at all except they were my grandfather's and I was very close to my grandfather. That's how we knew who got what. My brother was very close to my other grandfather who passed away when I was young. My uncle had his Rem Mohawk and gave it to me. That day I called my brother and told him I had it and asked if he would like to have it. That just how we operate in my family. It wasn't the guns we wanted. It was the memories.

It's nice to know that when you pass, the firearms you leave behind are going to be valued for their memories of you.

 

[1911 guy]

Pass them out during your lifetime. First, it will be a gift to them from you, not something they get only when you're gone. Secondly, it prevents the squabbling that often goes on when there's stuff not specifically stated in a will.

 

[Speedo66]

^ +1

More fun to see their reactions, and them using it, while you're still alive.

I gave my Rolex to my son, some jewelry to my daughter, and cash to both.

Rather have them enjoying it while I'm still here to watch.

 

[TRX]

Neither my wife nor I have any near family. In the event we both die together, our will specifies disposition of various items and firearms to friends, both local and out of state, in the manner of, "if A rejects the bequest, it then goes to B..." and so on. Some of the items are NFA; an addendum explains what that means, emphasizing it is only a snapshot of the rules at the time the will was written, with contact information to the ATF NFA Branch as well as places to look for current information.

 

[MagnumDweeb]

As a lawyer who has friends who are Probate lawyers. Do yourself a favor and gift them while you are alive. It'll keep folks from wasting money over who gets what and it will possibly prevent a lot of bad feelings ahead of time.

I've contemplated many a time what I will when it comes my time to start looking at caskets. I've made the decision that I'll just give away all but a couple handguns, keep a couple rifles, and set all the shotguns free. Spend my waning years shooting .22lr, .38 special, 45 ACP, and 7.62x54r till it's my time to take my final breath. I plan on donating most of my .22lr rifles to the local Boy Scout group that might get some use out of them. The rest goes to the kids and if they never come, some lucky individuals who I know are good people.

 

[hartcreek]

Even the black sheep nephew may be able to own a firearm in the future......depends on what his felony was. My nephew is kinda in the same boat just waiting ofr his eight years to go by so he can get his rights restored.

 

[Yo Mama]

Kurt, good for you in your thoughts on a legacy. I believe that a gun or knife has a connection, and in my home if the kids sell them I'll haunt them till their end. They know this to, kinda scared them, which isn't a bad thing.

Engraving certain pieces made me more confident they will stay in the family.

 

[PJSprog]

My wife and I have considered that as well, and have decided to go the memorandum route. Even if you plan to give them away before you expire, you may not necessarily have the chance. Death can be a sneaky visitor. Have a plan B.