My wife and I both have our own collection of firearms that we have accumulated over our life.
Now age is becoming a concern on what happens to them when either of us dies.
From all of my research the answer can really create a PITA to either one of us or our sons as well.
Our individual personal wills don’t cover firearms as well as needed.
The correct course seems to be that both of us do a gun trust.
The states we will be dealing with are Tennessee, Florida and Alabama. That’s the good part for us.
**** Can anyone give me information about trust. Forms to use, maybe a e net source to purchase.
There are so many and I have to idea who the scammers might be.
Do I find a local attorney and do it that way?
What’s a typical cost?
Do we have to itemize and id a list on paper of our collection?
Do we really both have to have one or can we put both collections in the same trust ?
I have read that you can’t be in your own trust, is that true?
We both would add our sons and each other to our trust.
I fell like I actually know some of ya. Other wise I wouldn’t be asking. And of course we are a gun bunch lol.
I also know this can get kinda sorta personal. With that said, I’ll be glad to PM my phone and e-mail address to discuss off line.
Thanks for any feed back, I would really appreciate it.
I’m not sure on the whole gun trust but I don’t see why making a list of the model and serial numbers and which guns go to which kids in a will after both parents are deceased wouldn’t work
I was left 2 guns in my great grandpas will to be given to me at the age of 16. Of course that was when times was simpler and there wasnt all the anti gun stuff goin on like now days. Im sure your only talkin about the few firearms you have left after that terrible boating accident. You could allways start thinning the heard now while your still on the right side of the dirt to save a little hassle and extra paperwork.
Maybe talk to a FFL and see if you could sign and date the forms needed to transfer said firearms to your kids. I might have read about someone doing that.
Just give them away ahead of both you leaving, save your defensive tools. No paper or transfer needed on anything other than tax stamped NFA items. The bonus of being able to express the reasons personally while bestowing them.
My dad pre-filled transfer forms before he passed, which was very convenient, but i found that a trust is 3ven easier, so i’M looking into that as well, so tuned in for ideas here…
I guess I’m just not understanding the trust thing all guns in my family that have been handed down over the years were left in wills, passed off before hand or there was a piece of paper with the will stating model, serial numbers and who they were for
The only experience I’ve had with a trust is when I purchased a suppressor from Silencer Central. Since it is an NFA item that can only be used by me the trust ensures that when I die, my son, who is included in the trust, can take possession of the suppressor and make use of it legally. As to all my other weapons, I simply included them all in my will and left them to my son.
If I am unlucky enough to live beyond my physical abilities to do normal things, you know, like walk and talk, I have made it clear to my entire family that my son is to take possession of anything and everything in my home and shop which are firearm related with the exception of one pistol for when TSHTF. I want to be at least able to go out on my own terms should it ever get that bad.
Will
That is a very valid suggestion and I looking at that seriously.
In our case we may amend our wills a codicil.
Still studying that.
It’s a form that we can specifically describe firearms and document them. It would be notarized and witnessed then just add it to the will.
All be done in house with friends.
My dad passed away 2 years ago. He left me an entire room of stuff in his house. I was to take whatever I wanted. Along with some mementos, there was his colt pistol and a reproduction civil war rifle that I drooled over since I was 12! Anyway, I had his wife just do a gun gift/bill of sale, as she was his POA, (Power Of Attorney). Something to think about for any couple. Besides a will, Give your spouse POA, healthcare proxy and name a backup and a trustee while you still have all your marbles! That’s what I did when I turned 50.
We listed our collection as a single item because it is a bit dynamic. I then gave my oldest Son, who is the executor of the trust, a list of some of the particular guns and how they will be distributed among the other kids. Some of ours have family history so will be listed and distributed accordingly. Any items that have only monetary value and get sold, will have the proceeds divided evenly between them. I really only have two of my boys that have interest so I think this will work.
Thanks for the response.
Did you get a revocable or irrevocable trust.
When you pass away he will be the only one person in control of the trust? Is that correct?
And currently if you have any silencers or other licensed firearms he is the only other person that can use of have possession of legally ? Your other son don’t because he isn’t on the trust?
I named all for of my children on my trust. Each one in succession as I deemed their competency, (sorry kids), in case something should happen to one of them during the process the next in line will be able to legally handle it.
Ok, be patient a minute with me. So at any given time depending on who is the executor that one person can do what ever they want and change anything they want if no one else in on the trust.
Larry,
The whole trust thing can be very confusing. Yes, he is on the trust ( Irrevocable) and will be the only person that can receive the two NFA items I have, and that is mainly because of where he lives. He is a cop in NV and the other son lives in kalyfornya so he could not possess any NFA item there. My daughter-in law (his wife) is also listed in the trust if he were not around for some reason. I think they are the only two that could deal with an estate situation and I trust them completely to follow any additional instruction as deemed by the trust or instructions I leave.
So at any given time depending on who is the executor that one person can do what ever they want and change anything they want if no one else in on the trust.