Transferring firearms after my dirt nap

[lightman]

I've had a will for a long time and on the advice of my financial adviser have recently set up a trust. This includes power of attorney for medical and financial. I have a list of my guns with serial numbers, descriptions and accessories. The ones that I inherited or were gifted to me have that noted as well.
I have an additional note with the will offering advice on what to do with my lead and brass stash. Don't laugh, dealing with both will be something of a job!

[bob208]

check if there is a auctioneer that specializes in guns. we have one nere me I already talked to him so that is one thing taken care of. he advertises on line and takes phone bids plus has his own ffl. so he does transferees right there the day of the sale.

for anyone interested it is Redding's auction service. in Gettysburg pa.

[oldlongbeard]

The $$ you spend now on the revocable trust will pale in comparison to what Probate will eat up. My sister works in probate. She tells everyone she knows that the revocable trust is an I.Q. Test, unless you want the gubmit to take WAY more when you’re gone....and chance that some relative may try to do things differently than your wishes. DO IT NOW.

[Land Owner]

Another poster, in another thread, on another board, asked what he could do with his armory, in his prime, with heirs, but no heirs of the shooting persuasion. Maybe not your case, but simply "leaving them to the wife" just speaks of inconsideration. She is going to have her hands FULL with emotions, loss, loneliness, depression, insurance, paperwork, wills, attorneys, trusts, family, stocks, bonds, probate, bank accounts, credit cards, disposal of your personal effects, clothes to donate, a garage to unpack, a closet to clean out, the storage shed full of "stuff", power, water, sewer, electric bills to pay, and all the while continuing to run and keep a household for herself.

And many of you want to leave her to dispose of your guns and gear? With strangers? Strangers with guns? Does she shoot? Does she reload? Does she cast? Does she have a CLUE what you have amassed? Will she know where to go to find the right price to ask??? Will she be swept away by the Flea Market mentality of the Buying Public offing peanuts on the dollar for high value guns? Do you want HER to make these decisions at that time in her life in dealing with your absence?

I suggest that you SELL THEM NOW. Maybe a few at a time, the same way you acquired them. Sell them to the gun lovers on THIS FORUM, or another forum of your choosing. Sell them for what you PAID FOR THEM. Get your money back - or nearly so - less the fun you had in loving them though your own hands while you used these tools. Do not leave your guns to be sold to just "anybody" after your death. SELL THEM TO US. WE LOVE GUNS (and I am NOT BUYING. I am selling mine for the same reasons I am offering to you)!

Folks here can be assured to take GOOD CARE of your stuff as their newly acquired purchases. Take the money and buy the two of you a FIRST CLASS VACATION (something to talk about for the rest of your lives together), and the wife some brand new JEWELRY, and SPEND EXTRAVAGANTLY on the two of you while you are ALIVE!!! Turn your guns and gear into MONEY and SPEND, SPEND, SPEND, cause you cannot take it with you...or leave the Mrs. with a nest egg for after you are gone. She can live it up with that "guy next door" that you always wondered about.

[higgins]

I recently attended the estate auction of a shooter who had accumulated about as much stuff as I have. The guns sold for reasonable prices for the buyers (I don't know what the widow paid the auctioneer). The reloading tools, presses, some powder, a bunch of brass, bullet moulds, sizing dies, etc. sold for yard sale prices. I had to restrain myself to not bid on some tools that would have ended up being duplicates to what I already have.

One reason I was able to resist was because I've made a decision to not buy anything until I run out of it, and to not buy any more tools unless there's a good reason. Better to sell your stuff to friends at good prices for them (or give it go them if they're close friends) than to wait for strangers to buy it in box lots at your estate sale. If the auctioneer puts the box lots together you can rest assured the sizing dies to the lubrisizer will go in a box with the shotshell wads, and the MEC charge bars will go in a box with misc. pistol brass and rifle bullets.

[alamogunr]

I keep reading here how much probate costs. I have been the executor of two estates. Relatively modest ones at that but I don't remember any government entity getting anything except the Chancery Court Clerk getting a small fee for registering the wills. Both cases were in Tennessee. I don't know how the laws differ in other states.

In both cases I took a 5% fee because of the time I had to take off from work and all the driving involved since the deceased were not local. The lawyer also was paid but I don't recall how much, only that I didn't consider it exorbitant.

[Land Owner]

I have one (1) triple level tackle box that is filled with lube sizing dies, top punches, shotgun chokes, gun cleaning gear, and a plethora of small miscellaneous rifle, pistol, and reloading items. The cost of everything in that box is on a spreadsheet, which Talley is MORE than $1,000.00, Retail. I could envision in my untimely estate someone picking that whole tackle box up for $50.00 (or less). I have told the Spousal Unit that the tackle box is WORTH a whole HEAP (more than $1K) and to first look at the spreadsheets for value before she does ANYTHING in the event of my untimely death. I need to staple a printout of those spreadsheets (and those of my Inventory) to my Last Will (just in case).

I am executor of my Hunting Partner's estate, which is both a Trust (house and properties) and a lot of unspecified accounts requiring probate. The estate is already over $4K through the Court to the Probate Attorney, and the end is not yet in sight.

[Geezer in NH]

Being the one my Father picked to be the executor of his estate I can tell you the court is the final and only way it happens.

It all belongs to the estate. Nothing gets done without the permission of the court. His was a simple estate that took 1 1/2 years after he died. I wish he made the lawyer his executor rather than me.

It divided the family that I could not believe. NO matter what I did was wrong by them. Now family I was very close to are gone. So much for family it seems MONEY is the divider nowadays.

Sister died hating me as her baby was denied to live in gramps house with his wife and 30+ cats and ferrets. He is somewhere in drug induced dementia but who cares Now the spawn of the sister thinks nothing of us.

Let the lawyers handle it I do not care what it costs the estate it is not worth it.

[Thin Man]

Three years ago I lost along time friend who was a firearm and ammo collector. He treasured 1911s and Lugers above everything else but had a wide variety of very good quality firearms, along with 7 NFA items. He had drawn up his will through a local attorney but was still making changes to it when he passed. End result- he passed without a binding will signed and active. He was divorced and had no children, so in this state (TN) his estate went to his only living relative which was his sister. This is what he wanted anyway so that part of the settlement was easily established. She had no idea what any of the firearms and ammo were, or worth. I created an inventory schedule for her with approximate market values. All sales were completed through a local FFL shop with actual sales advertised and marketed by an auction company that is familiar with firearm sales. Everything went smoothly, except for the NFA properties. The sister thought they were worth much more than the offers coming in and it took a while to move them to an SOT dealer who took the entire lot. The inventory and sale were burdens but he and I trusted each other enough to offer each other this work for the one who passed first. The sister inquired why I did not accept any payment from her for my work, and why I did not bid on the items at the auction. My quick answer was that he and I agreed to assist the other's remaining family and it was my intent to do as I have a "make a promise, then keep a promise" approach to these friendships. Guess this is a story about personal honor. It has no price tag attached to it.

[Froogal]

We've got sons, sons in law, grandsons, grandsons in law, and even a great grandson. When it is time to disperse of my guns, we'll just let them have their choice.

[RickinTN]

A will only becomes a court order if it requires probate. A will can be written to avoid probate. An attorney in your locale is worth every penny spent.
Good Luck to you,
Rick

PS. I agree to give them to family and such before your passing if that is where you want them to go. You may be able to enjoy them with the recipients.
Rick

[NY_Treeguy]

Just went through this when Dad died 2 years ago. He was a NJ resident. As NJ does not have handgun permits, just purchase permits and FAID cards, guns can be legally passed on to any family member with a FAID card. If your wife has one she can legally posses with no paperwork. At that point she is the owner and can sell as is legal in NJ.

[RickinTN]

I keep reading here how much probate costs. I have been the executor of two estates. Relatively modest ones at that but I don't remember any government entity getting anything except the Chancery Court Clerk getting a small fee for registering the wills. Both cases were in Tennessee. I don't know how the laws differ in other states.

In both cases I took a 5% fee because of the time I had to take off from work and all the driving involved since the deceased were not local. The lawyer also was paid but I don't recall how much, only that I didn't consider it exorbitant.

Hello There John,
It seems we are neighbors so Howdy neighbor! I too have probated a will in Marshall County, Tennessee and the cost of the court was minimal. It actually was a simple process. However, in Davidson county, Tennessee (Nashville), and maybe others, the rules of the court now require hiring an attorney to probate a will. The cost, as you can see I'm sure then goes through the roof. Most wills will waive an accounting but any attorney is going to do a full accounting, even if there is only one heir, in order to run up the hours. It then becomes an expensive situation.
Rick

[alamogunr]

Hello There John,
It seems we are neighbors so Howdy neighbor! I too have probated a will in Marshall County, Tennessee and the cost of the court was minimal. It actually was a simple process. However, in Davidson county, Tennessee (Nashville), and maybe others, the rules of the court now require hiring an attorney to probate a will. The cost, as you can see I'm sure then goes through the roof. Most wills will waive an accounting but any attorney is going to do a full accounting, even if there is only one heir, in order to run up the hours. It then becomes an expensive situation.
Rick

Rick, I'm way over here in Crockett county in West Tenn. We have two sons in Middle TN, one in Sumner county, the other in Williamson county. I'm hoping to pare down as much as possible by giving them most of the guns, reloading equip and casting stuff in advance. Not too sure whether the casting stuff will be welcomed as they are not as inclined in that direction as I am.

I'm pretty sure that being an executor around here will be fairly simple and inexpensive. I may have to appoint someone local to avoid them having to travel here often. I'm hoping that if I can appoint both they can share duties without both having to be present each time an executor is required. It has been awhile since we set up wills, powers of attorney and living wills, so may have to consult with another attorney about some of these questions. Also want to enquire about trusts. Don't think we need one but would like to be sure.

Up to now haven't thought too much about our "estate". Actually, thought we had too little to call it an estate. Amazing how things add up as you get older, owe very little except month to month credit card bills and are not sure that you will ever need to buy a new car or truck. Net worth would probably surprise most people if they went through the process to add it all up.

[alamogunr]

Hello There John,
It seems we are neighbors so Howdy neighbor! I too have probated a will in Marshall County, Tennessee and the cost of the court was minimal. It actually was a simple process. However, in Davidson county, Tennessee (Nashville), and maybe others, the rules of the court now require hiring an attorney to probate a will. The cost, as you can see I'm sure then goes through the roof. Most wills will waive an accounting but any attorney is going to do a full accounting, even if there is only one heir, in order to run up the hours. It then becomes an expensive situation.
Rick

Rick, I'm way over here in Crockett county in West Tenn. We have two sons in Middle TN, one in Sumner county, the other in Williamson county. I'm hoping to pare down as much as possible by giving them most of the guns, reloading equip and casting stuff in advance. Not too sure whether the casting stuff will be welcomed as they are not as inclined in that direction as I am.

I'm pretty sure that being an executor around here will be fairly simple and inexpensive. I may have to appoint someone local to avoid them having to travel here often. I'm hoping that if I can appoint both they can share duties without both having to be present each time an executor is required. Right now my wife will be executor if I pre-decease and I will be if she does.
It has been awhile since we set up wills, powers of attorney and living wills, so may have to consult with another attorney about some of these questions. Also want to enquire about trusts. Don't think we need one but would like to be sure.

Up to now haven't thought too much about our "estate". Actually, thought we had too little to call it an estate. Amazing how things add up as you get older, owe very little except month to month credit card bills and are not sure that you will ever need to buy a new car or truck. Net worth would probably surprise most people if they went through the process to add it all up.

[15meter]

The more you lay out in advance the better it is for all involved. My dad died in 2012 with a solid well written trust in place that basically put everything at the disposal of my mother if she need the financial funds. My mother survived until July of 2020 and there were still assets in my dad's trust and she had assets of her own held in an identical trust.

I was the executor of both and I thank my lucky stars that everything was written out as specifically as it was. I have 3 sisters, one that accused me of using a "disreputable" (my broker) broker.

One that ignored my instructions on how and when to dispose of personal effects and generally made it harder than it should have been.

The third one is so mad at me, my name is not allowed to be spoken in her house. She and her husband are absolutely convinced that I ripped them off, even though every move I made was with consent of the lawyer I hired to oversee the estate.

Didn't matter that the lawyer was her nephew that she likes, and in addition, we were working with a CPA to make sure the taxes were handled properly.

Even with the both trusts in place there is a tremendous amount of animosity aimed at me.

Without the trusts in place I suspect the sisters would have wasted half the estate on lawsuits against me.

I'm not convinced that I am out of the woods yet. I still have concerns about being sued personally just for spite.

I still have to file taxes for 2021 because there was real estate sold in 2021. After that I have to distribute what is left over after paying the taxes/legal/accounting fees.

If I make it through 2022 with out a trip or two before a judge, I'll be happy.

[GregLaROCHE]

My ex didn’t have any problems selling my guns when she wanted some cash. And that was after we were divorced!