What happens when you die?

[benjamin101677]

[OlderThanDirt]

I have detailed instructions in my trust for every firearm, all ammo and accessories. I've move the problem children out of state to facilitate a smoother transfer. I revisit these instructions frequently given the ever evolving changes in real and perceived legal hurdles.

[Rogerbutthead]

It is sad, but most gun stores just take advantage of widows and families that want nothing to do with the deceased's firearm collection.

They will give maybe 35 to 40% of fair market value - and salivate when the family doesn't seem to have any idea of the amount of money it is worth.

Use to hang out at a gun store and watch it happen. Their rule was they had to pass on it first before I could make an offer. They didn't pass on much.

[nitroxdiver]

[GW]

I have a list of family and friends who will receive guns of mine that they have admired. I have a trusted FFL who will sell off the rest of my collection and give my wife a fair settlement after his cut.

[Mark49]

I started a will and trust in 2019 but procrastinated.
At that time, I had never spent a single day sick or in a hospital.

Caught Covid Dec 23rd, 2019 and was admitted to LLMC as my lungs filled up with blood clots (D-dimer). All I could think about was I didn't have a will or trust in place. I got out of bed around February 2020.

Low and behold, June 30 2020 I had a heart attack, a stent and a few days in the hospital I go. still hadn't completed or recorded my trust.

July 2020 I completed and recorded my now ____ family living trust.

I own 87 guns total and Ammo enough to supply all of Ukraine.

I have a son that has somewhat of a passion for firearms, he owns a Glock and Shield.
Where I differ with many of you, I'm single.

I hope he'll come here and ask you great folks for advice If I was to croak!

But until then, I had a full recovery at age 68

Moral of the story, get a living trust!!!

[Marauder2003]

Single, no living relatives and no friends that are gun people. I also have 5-6 NFA items.

All being given to my favorite FFL here in NV. They can do what they want with them.

Not sure what to do with the 50k rounds of various calibers I have.

[wpod]

My kids have picked what they would like when I die, maybe sooner. We have paper list to lessen confusion/bickering. These are all long guns. Interestingly, none want any ARs.
Handguns, Wife will probably keep. She likes guns and shooting too. She recently bought a PX4 because she likes mine. Handy that we EDC the same thing.
Ammo will go with the guns. The reloading equipment & supplies, she'll probably give away or sell.
But whatever happens, it won't effect me.

Sent from my SM-S908U using Tapatalk

[jonnyt16]

It is sad, but most gun stores just take advantage of widows and families that want nothing to do with the deceased's firearm collection.

They will give maybe 35 to 40% of fair market value - and salivate when the family doesn't seem to have any idea of the amount of money it is worth.

Use to hang out at a gun store and watch it happen. Their rule was they had to pass on it first before I could make an offer. They didn't pass on much.

Yep. I used to work at a gunshop in my 20's and this was my same experience. In fact, if you got caught offering a seller (or family member of the deceased) money for a firearm before the shop made an offer, you would get fired.

[Jeepergeo]

She'll try to sell them for 75% of what you told her you paid for them.

[Dirtlaw]

She'll try to sell them for 75% of what you told her you paid for them.

Sorry guys. Most wives are wise to the "I really got an amazing deal" story.

[Jimi Jah]

One benefit here is you will still be allowed to vote.

[mikeyr]

my wife has a vague idea of the guns (and tools in the shop, other toys) and their value. But when I talked to her about it, she said we have made sure that she has enough to live comfortably and "you will be dead, why do you care ?" She did say it would be different if she was going to struggle to financially survive after my death but she will be fine. By the way she also said the same thing about her jewelry if she goes first, she said she will be dead, she does not care what I do with it...she did specify a few things go to our daughter, but the rest is mine to throw away or sell or give to daughter.

[benjamin101677]

I think what people are missing here is the gun market goes way up and way down. Someone with a big gun collection needs to flip it either because of death or health or financial reasons are going find that it is harder to sell them they expected. 12 - 18 months ago I could have probably flipped my whole collection in a month or two as buyers were everywhere. Now that the market is a buyers market, going be hard to get fair market value. Even if someone was a collector and willing to buy guns at fair market value most people don't have the funds to buy $15,000-$20,000 worth of guns at once.

I know someone who is trying to sell off Browning Rifles, and Ruger revolvers that he collected. He is old in bad health and could use the money for other expenses. He is not finding buyers, across local gun shops, across gun broker, across his friends that collect guns. Buyers just aren't there and the buyers that are around aren't paying fair market values.

For those that have stated they have left value guidelines with wives, friends, etc. what if the buyers just aren't there? Gun markets change all the time. Very few people are going have the funds to buy 50-60 plus guns at once. If you put them on gunbroker, etc. you will flood the market and get reduced buyers. This is not even counting what happens if the California gun roster gets beat in court, that is going kill a lot of gun values across all markets for a while.

I know from experience in buying large number of guns at once that there could be money to be made but there is also a major pain in dealing with them.

I know after seeing some of these collectors that can't find buyers that I am going start reducing my collection. Going start selling off guns that mean nothing to me, and guns that I never shoot. One less headache for someone to worry about when I die. I know from my personal experience when I think about it my dad died when I was young; the only guns that mean anything to me are the ones that either he shot or carried. He had a whole stash of guns in safes that meant nothing to us kids.

[mikeyr]

you price it right and you will find a buyer anytime...I fully expect my wife to dump my 2nd gun Colt SAA for $100 when I am gone, my HK, well its plastic, can't be worth more than $50...and absolutely yes, she knows what I paid for them (The Colt was a bday gift from her). There is always a buyer no matter what the market if you price it right. If you try to get top dollar then yes, you may have a hard time. I will be dead, so I won't care if she gives all my guns to the cops for destruction, I have provided for her in other ways, she won't need a few dollars from guns. And same goes for her, I can guarantee her hobby supplies that also run into big dollars will be gone for pennies on the dollar if she goes first and she herself, as I said 2 posts above said once dead she won't care. The real issue is we all and I am guilty of it also, think our guns are special and worth top dollar when in reality they are worth half what we think. You can bet if I sell while alive, I will ask top dollar