I Need advice so as not to leave my wife in the dark.

[mike britton]

My 27 year old grandaughter lives with me and helps me keep the spread sheet on the guns up to date.
One good thing she brought up was that we needed to be sure the "family" guns are highlighted on the sheet so that the family knows what guns stay in the family and what guns are merely trading fodder.
I'm 72 and I have started listing in word histories of each of the guns, where they came from, what I paid for them, etc. so that the family has some idea of each gun's story. Do it now while you still can. I have a couple examples that I have no idea of their individual stories.
Everyone has a box full of photos that they cannot identify. Family guns can possibly have that same problem.

[MarkW]

As mentioned, a lot of good advice here. Only thing I can add is a good indicator of actual value right now is to make an account on gunbroker and then you can look up completed auctions that will show you what the guns actually sold for. It is not the best indicator for prices but at least you can have a wild idea whereas before you had none.

[Winger Ed.]

The wife & I have established a trust and there is a 'letter to executors' that lists and designates where everything goes, and who gets what.
The guns, tools, antique family heirlooms, jewelry, furniture, the cars, everything is listed in the letter.
No taxes, no court hearings, hopefully no unanswered questions, or hard decisions for those who we leave behind.

After seeing a life long friend's sisters come to blows, basically over their Mom's 20 year old underwear---
We have left no wiggle room for, "I'm 1,000% sure Dad wanted ME! to have that"

[Handloader109]

A couple of points. If you make list of things, make sure to DESTROY old list when you update (if you do) In other words only have ONE list. My mom had a bunch of jewelry. Some hers, some her Mothers and some an aunt's. Not a lot was really worth a lot, and she has SEVERAL lists all together, where she had tried to describe and list the items. While my brother and I get along, my Sil and my wife don't and unfortunately I was short man out when we all quickly parsed out the items. No pictures to match items, some items missing or mismatched. It doesn't matter money wise but it left bad taste in my mouth as my mom tried to make it easy. If any of you have this sort of rivalry, work to insure things go smoothly without quarreling over trivial things.

Sent from my SM-G892A using Tapatalk

[725]

A complete spread sheet with details, first of all. Then I'd set those aside I want to keep and then attach a tag on each with details of history, significance, and why it has been important to you. Tag those you want to go to certain people and sell as many as you are comfortable with selling. Then discuss everything with the wife.

[Land Owner]

Who cares about estate planning? I sure as heck do! Some are afraid and don't want to consider the morbidity of their own death. They SHOULD!

It only takes a few minutes a YEAR to be considerate and designate to whom, family or friend, you wish to leave something of value, sentimental or real. Making a DATED list is a partial plan in that.

Be certain of what you want done after your death. Make a notarized, signed, and witnessed:

i.) LAST WILL AND TESTAMENT

ii.) LIVING WILL - to allow the decision, on your sworn word, to literally "pull your plug" rather than languish in a vegetative state, before the Health Care profession drains your life's blood and savings

iii.) designate a HEALTH CARE SURROGATE - to clearly steer Health Care decisions about you if you become incapacitated

iv.) assign a DURABLE POWER OF ATTORNEY. If your incapacity persists, such as coma, unconsciousness, respirator, inability to speak, etc., trust and assign someone to make, and bind on your behalf, important and timely decisions while you are not at the helm through that storm.

None of these HAVE to be prepared by an attorney. Read the documents. Make up your own mind. If you can post text here, you can download a PDF from the Net and retype it as your own in a word processor, which you can then modify to suit ad infinitum. There are suitable free examples on line in every State.

JUST DO IT! There is no time like the present. Tomorrow may be too late. These decisions may chart the best course of your life.

[StuBach]

This thread and my positive Covid test lit a little fire under me last night and I updated an old list of firearms I used to maintain for my collection. Originally it just contained firearm, manufacturer year, age, and appx value current on gunbroker. I updated it last night with a “who should get” column that has 2-3 levels of how to disperse each firearm. First layer is who do I most want to get the firearm (misty my two kids) followed a second layer of who should get them if they are unwilling/unable to keep them after they turn adult.

This way my wife knows my wishes and in the worst case an approximate value of the firearms in today’s world (who knows what that value will be but that’s not a problem for today).

I printed this list, signed and dated it, and sealed in an envelope that is now taped to the side of one of my safes where it’s out of the way but conspicuous to someone opening the safes. Wrote in big letters, “who gets what firearms” on the envelope to catch someone’s attention.

[KCSO]

I made my Daughter MY POA a note book with detils of all my guns and acessoried with provenance and values as of 2015. When I pass on she will take care of the sales and dispositions according to the will.

I was afraid my wife wouls sell everything for what I told her I paid for it... Just joking. Althought a $79 SKS has risen on value somewhat in the last few years.

[.45Cole]

+1 on the auction idea. Super easy for somebody to go through the process and the attention of high value things will bring bidders. Best part is if you're not around to complain about something that may have sold cheap, your survivor will never know the difference. Most collections aren't valuable enough to be life changing (like $50k) and the hassle of actually selling something at it's value is hard. Be sure to list a couple of "keepers".

[BJK]

I'm in the process of going through this as I write. I'm getting older and firearms that I have loved and can no longer use, no matter how much I love them I'm selling. I have a brother who's buying many of them to keep them in the family. But my point is that I'm doing it now. If any of them need to go to selected individuals put it in writing or hand them out now. I want to know where my firearms are going and more importantly who they won't be going to. I once gave a rifle to a nephew and told him that if he ever sells it to let me know and I'll buy it back from him. He sold it to a friend and I found out from his father. I can sell things to people I don't know just as easily if I have a mind to, but firearms are as personal as underwear.

If you pass and she has to sell them they can be taken to a gun shop, but they have a business model that they must follow or they're out of business. She'll get maybe 50% of their worth. It's not a scam, it's just the reality of being in business. Or maybe she can put them on consignment, or call a trusted friend or 2 to sell them privately.

But fast moves are to be avoided. She should distrust anyone wanting her to make them and show them to the door. I've seen what can happen twice when a widow has done this. The first time a shady gent contacted the widow of a friend to take care of the firearms. He absolutely did that and removed the firearms that she hated. She never saw them or any proceeds from them and hasn't seen him again. The 2nd was another widow where a "friend" wanted the husbands SxS shotgun. A cousin of the woman called me to ask if I would look the guns over to appraise them and the widow was smart enough not to make fast moves. Of all the firearms the only one worth anything was that shotgun and I told her what to ask for it. The friend hit the ceiling when he was going to have to pay what it was worth to get it. Clearly he expected to get it for little or nothing.

There are plenty of other ways to handle the disposal of a collection and while I didn't read the entire thread I did see enough of them to where I know that I don't need to repeat them for you.

I wish you well.

[Ed K]

1. My local pusher recently pointed out several classes of collectible firearms that peaked a decade or more ago that may never regain their peak value.
2. Hamilton Bowen has gone on record claiming revolver prices (personal favorite) are at about peak and will in the future begin to decline indefinitely.
3. Firearms values are very high right now.
4. Why keep a spreadsheet of firearms that do not see use (when you're 60, 70, 80...)?

Sometimes being honest is tough: I could get by with a number I could count on one hand (or maybe two ). If that honesty results in concern for your loved one all the more so...

Quoting myself - never done that before. Why? I titled that post "These are a few points I seriously need to consider myself". It has been 8 days since that post:

• Started building an inventory of the keepers and developing a strategy for the rest.
• One is already on consignment with my local dealer.
• One is already listed on Gunbroker.

It will take a bit of effort but there is no rush. Feeling good about getting sufficiently motivated to begin. To be clear I'm not going to deprive myself here but the ones for sale just don't see any use. I'm sure I'm not alone on that.

[facetious]

I knew a guy years ago that collected full auto and other top end stuff. He told me that he had a dealer that had gone over his stuff and would take care of stuff for him should he kick it so his wife wouldn't have to deal with it. I haven't seen him in years but heard he had sold off all his full auto stuff. He would be in his mid 80s by now.

But it has made me wonder when ever I look at something I think would be cool to have and wonder why?