Your firearms after you die

[Caribouriver]

Not to be morbid, but this has crossed my mind a few times as a couple of range friends passed away this year. So, you have a few rifles and pistols. Your estate is just simply to be divided equally among your children. What is the best way to turn it into easily divisible cash? I suppose selling individual firearms would bring in the most cash but can they do that legally? Like on CalGuns? Or put them in a LGS on consignment? I suppose it would be easiest for them to just have a LGS buy the lot, but that would likely yield the least cash. What arrangements can a person make to simplify the process? None of my kids share this interest so I figure it unlikely that they will want to take physical possession of anything. What have you guys done? Thanks.

[pitbull30]

My wish will be that they do not sell them and they pass them down to their kids. When my dad leaves me his I will not sell them.

One day my dad and I were talking about guns and my mom said she was going to sell them when he passed. My dad said to her "You will not sell my guns! You give them to my son!"

[Full Clip]

Truth is most guns will be sold by family for rock bottom prices and quick cash. Not everyone is into guns, most people aren't actually. Personal sentimental value is only valuable to the individual for most everyone else cash is generally highest on the agenda.

This, for sure. I've seen it done with all kinds of collections: coins, stamps, sports stuff, comics, etc.
If you want to collection kept together, will it directly to someone in the family who shares your interests.

[dpr]

Line up at my door when I kick. My wife will sell everything for pennies on the dollar. Want a $10,000 Perazzi for $200, you'd probably get it if you have cash.
This thread is a good reminder that many of us probably need to work out what do with our guns after we pass.

[Condorguns]

I see this all the time.

First write down the information about your firearms and place it in a place your wife or whoever will be dealing with the knows about. Include with the basic gun description what things go with the gun ( mags, boxes, scope, whatever). Write down an aprox. value.

I had a nice lady come in a few months ago with a bag full of stuff and a note. This is what it said.

Honey, this is the Colt ( had a photo). You need to take this gun, with this box (had photo), and these mags (had photo). To Torrey at Condor. She will tell you what it's worth, this is what I paid for it ( had photo of sales slip from forever ago), but it will be worth more now. When you have the value call ( listed names and numbers) and ask them if they want to buy the Colt for the amount that Torrey said. If they do Torrey will walk you through the process. If they don't then put it in her place on Consignment.

The silly letter helped her out a lot. She had no idea what she was doing but was able to get a nice chunk of money from a simple PPT, and there was no hassel about missing mags or anything else.

So long story short. Leave info behind for your family.
Find a shop your trust to not take advantage.
Know that they will make the most amount of money by PPT
Consignment is next down on the money scale
Selling to a shop gets you the least amount.

Unless you specify in your will that a certain gun will go to a certain child, the executor of the estate will be the person who has the legal authority to sell the firearms.

[Canucky]

My wish will be that they do not sell them and they pass them down to their kids. When my dad leaves me his I will not sell them.

One day my dad and I were talking about guns and my mom said she was going to sell them when he passed. My dad said to her "You will not sell my guns! You give them to my son!"

Have them transferred to you sooner than later.

[Fjold]

My biggest fear is that Wifezilla will sell my guns for what I told her that I paid for them.

[ZirconJohn]

All my gun are going to my best friend whom I've known since the age of 12.

We started with BB guns back in 1968 - And now his collection is bigger than mine. OMG, you should see some of the guns he has fuuuuuuuuu...

My little brother gets one gun out of my collection - Dad's Walther P38 he brought back from Germany - WWII.

For my wife, Doug knows how to sell, and prices... he will take care of that. We've talked.

[numpty]

My biggest fear is that Wifezilla will sell my guns for what I told her that I paid for them.

Good thread topic though.

[Canucky]

I have met many independent FFL's that got their start buying large estate collections. Have them appraised before your gone. Physically and mentally.

[VegasND]

My daughter is not much into guns and shooting but my son is (not as much as me but at least he understands value). I have given them both guns beginning with .22 single-shots when they were under 6 years. They both understand their 2nd Amendment Rights and responsibilities.

But -- because I know my daughter and her husband will rush to turn them into cash as quickly as possible with little regard to value, my son gets them all.

He must give his sister one of my guns after I pass -- HIS choice.

[glockman19]

I see this all the time.

First write down the information about your firearms and place it in a place your wife or whoever will be dealing with the knows about. Include with the basic gun description what things go with the gun ( mags, boxes, scope, whatever). Write down an aprox. value.

I had a nice lady come in a few months ago with a bag full of stuff and a note. This is what it said.

Honey, this is the Colt ( had a photo). You need to take this gun, with this box (had photo), and these mags (had photo). To Torrey at Condor. She will tell you what it's worth, this is what I paid for it ( had photo of sales slip from forever ago), but it will be worth more now. When you have the value call ( listed names and numbers) and ask them if they want to buy the Colt for the amount that Torrey said. If they do Torrey will walk you through the process. If they don't then put it in her place on Consignment.

The silly letter helped her out a lot. She had no idea what she was doing but was able to get a nice chunk of money from a simple PPT, and there was no hassel about missing mags or anything else.

So long story short. Leave info behind for your family.
Find a shop your trust to not take advantage.
Know that they will make the most amount of money by PPT
Consignment is next down on the money scale
Selling to a shop gets you the least amount.

Unless you specify in your will that a certain gun will go to a certain child, the executor of the estate will be the person who has the legal authority to sell the firearms.

I have a spreadsheet with the price I paid and current value, (I update regularly). Wife has been instructed to become a Cal Guns member, (Mrs.Glockman19, reserved), will notify everyone of the sad news and offer my firearms and ammo to the Cal Guns Community.

My biggest fear is that Wifezilla will sell my guns for what I told her that I paid for them.

[toby]

I have and will be giving a as gifts to a chosen Nephew and Son in law, the rest will be sold except for 2 and those will go to my Grandson when the time comes. This put's me in control of who gets what so in short I will have to live "firearmless" for a few years.

[uhlan1]

[QUOTE=glockman19;15181172]I have a spreadsheet with the price I paid and current value, (I update regularly). Wife has been instructed to become a Cal Guns member, (Mrs.Glockman19, reserved), will notify everyone of the sad news and offer my firearms and ammo to the Cal Guns Community.


Great idea! I just have to make sure Mrs. Uhlan becomes a member AFTER I'm gone, otherwise I'll be gone much sooner.

[Ford8N]

Truth is most guns will be sold by family for rock bottom prices and quick cash. Not everyone is into guns, most people aren't actually. Personal sentimental value is only valuable to the individual for most everyone else cash is generally highest on the agenda.

This X1000!!!!

Line up at my door when I kick. My wife will sell everything for pennies on the dollar. Want a $10,000 Perazzi for $200, you'd probably get it if you have cash.
This thread is a good reminder that many of us probably need to work out what do with our guns after we pass.

Seen this several times.




Best idea, give your guns away before you die to someone that appreciates it for what it is. I have liquidated a couple of estates in my time, the only thing that matters to family left behind is MONEY and what ever they can sell your crap for, fast.