Passing guns down without obvious heirs

Gun related chat that doesn't fit in another forum

Passing guns down without obvious heirs

Postby yukonjasper on Tue May 30, 2017 1:09 pm

Came across the following article and it made me think. Marrying late in life with no children planned leaves me with a interesting decision, what to do with the contents of my safe if I should die. I hope I go slow enough to allow me to sell most if not all of the collection, but I guess I should have something in a Will with specific instructions. I don't own any NFA pieces, so that isn't a concern.

http://www.fieldandstream.com/you-cant-take-it-with-you-sporting-guns-edition

I cringed a little with the shopping cart story.

Anyone else in the same situation, care to share your plan..............
Deo Adjuvante Non Timendum - (with the help of God there is nothing to be afraid of)
Spectamur Agendo - (We are proven by our actions)
Non Ducor, Duco - (I am not led, I lead)
NRA Life Member
User avatar
yukonjasper
 
Posts: 5823 [View]
Joined: Wed Feb 06, 2008 3:31 pm
Location: eagan

Passing guns down without obvious heirs

Postby gun_fan111v2 on Tue May 30, 2017 1:34 pm

I hope my kids will want mine. If not, will probably donate to the NRA.
User avatar
gun_fan111v2
 
Posts: 1110 [View]
Joined: Thu Feb 19, 2015 9:31 pm

Re: Passing guns down without obvious heirs

Postby mmcnx2 on Tue May 30, 2017 3:22 pm

Given you have no children, you should definitely have a will. Just make sure your executor knows what they are dealing with. If not mandate in the will the disposal/distribution process. You can also name a selling agent that can make sure they get a reasonable market value or donated per your direction.

It all depends on what you have and want done with them. If there are certain pieces that are very unique make arrangements now while you can to arrange a tentative sale - including reappraisal every few years to assure a fair price.

I have one pistol that a company would like to have for their museum. I've willed it to them and made sure they are aware of the executor and the intent.
User avatar
mmcnx2
 
Posts: 2208 [View]
Joined: Sun Dec 16, 2007 2:59 pm
Location: Hanover, MN

Re: Passing guns down without obvious heirs

Postby Grandpa Rex on Wed May 31, 2017 10:33 am

I have a grandson who would take anything he can get...If he stays in school I will consider it.

One nephew would get my grandpa's Lemon squeezer...

I have no blood descendants either so I will sell them off too given time.
If you are going to walk on thin ice, you might as well dance.
User avatar
Grandpa Rex
 
Posts: 668 [View]
Joined: Tue Jan 13, 2009 3:34 pm
Location: Blaine, MN

Re: Passing guns down without obvious heirs

Postby smurfman on Wed May 31, 2017 7:02 pm

I am in the same boat. My attorney told me I could just add an addendum on a separate sheet of paper into my will giving personal items to particular people or entities. No need to put it into the will and allows changes to be simple and easy. Best is I can change my mind as I want without having to pay my attorney to change my will. At least that is how my attorney explained it to me, your situation may be different. Ask your attorney how to proceed.

For the remainder of my stuff, I left instructions for my wife to follow. She can chose between a local auction service (Reinhardt) an/or Rock Island Auction for firearms depending on timing and need. My other hunting/shooting "stuff" is being dumped on my niece's husband as I don't like him.:).
smurfman
 
Posts: 975 [View]
Joined: Sat Jun 12, 2010 1:43 pm

Passing guns down without obvious heirs

Postby gun_fan111v2 on Wed May 31, 2017 7:59 pm

gun_fan111v2 wrote:I hope my kids will want mine. If not, will probably donate to the NRA.


I'd like to change my answer. You should will the best pieces to the great members of this forum ;)
User avatar
gun_fan111v2
 
Posts: 1110 [View]
Joined: Thu Feb 19, 2015 9:31 pm

Re: Passing guns down without obvious heirs

Postby Holland&Holland on Fri Jun 02, 2017 6:56 am

I offer gun and ammo disposal devices and my fees are very reasonable :D
User avatar
Holland&Holland
 
Posts: 12496 [View]
Joined: Mon Jan 12, 2009 9:17 am

Re: Passing guns down without obvious heirs

Postby yukonjasper on Fri Jun 02, 2017 7:32 am

Just send me your social security numbers and I will make note :high5:
Deo Adjuvante Non Timendum - (with the help of God there is nothing to be afraid of)
Spectamur Agendo - (We are proven by our actions)
Non Ducor, Duco - (I am not led, I lead)
NRA Life Member
User avatar
yukonjasper
 
Posts: 5823 [View]
Joined: Wed Feb 06, 2008 3:31 pm
Location: eagan

Re: Passing guns down without obvious heirs

Postby whiteox on Tue Jun 27, 2017 10:27 pm

I think a will is a good idea, but it doesn't work unless you're dead. Folks often forget about incapacity planning. What happens to your guns if you have a stroke or get in a car accident?

NRA would be a good option and they have a well developed planned giving site. https://nrahq.giftlegacy.com/

I would suggest maybe thinking local as well. Your gun club, a high school trap team, the MN Gun Owner's Caucus, or GOCRA would also be good options.

I did some videos about gun trusts. They work well for non-NFA firearms as well, because there are still traps for the unwary when it comes to administering guns in an estate.
http://www.minnesotaguntrustlawyer.com
whiteox
 
Posts: 507 [View]
Joined: Thu Feb 11, 2010 9:13 pm


Return to General Gun Chat

Who is online

Users browsing this forum: No registered users and 12 guests

cron