Looking for what other people have done.
Question is how to leave your firearms in your will.
Senario is- wife does not have FID/LTC, and kids are only 8-12 now.
I assume that my wife could not "keep" the firearms as she will not have an LTC-A.
My idea is to leave them specifically to a friend with LTC-A with a kind of "trust" where they would give the firearms to my kids when they reach 21 and have their LTC.
This might work if I trust my friend.
But what about my friend living out of state. Once he has the guns, can he give them back to my kids living in Mass? As long as they have the required LTC.
I guess the question is- will this meet the requirements of inherited guns, even though their will be a 9-13 year wait?
Key is that I would hate to have my many collectable guns sold for $100 to someone taking advantage of my widow.
So I want to do something to make sure this does not happen.
What have any of you done for your will? If you have done nothing specific in your will, then it will simply be transferred to your spouse with the rest of your estate.
In the process of updating my will and this topic came up.
Question is how to leave your firearms in your will.
Senario is- wife does not have FID/LTC, and kids are only 8-12 now.
I assume that my wife could not "keep" the firearms as she will not have an LTC-A.
My idea is to leave them specifically to a friend with LTC-A with a kind of "trust" where they would give the firearms to my kids when they reach 21 and have their LTC.
This might work if I trust my friend.
But what about my friend living out of state. Once he has the guns, can he give them back to my kids living in Mass? As long as they have the required LTC.
I guess the question is- will this meet the requirements of inherited guns, even though their will be a 9-13 year wait?
Key is that I would hate to have my many collectable guns sold for $100 to someone taking advantage of my widow.
So I want to do something to make sure this does not happen.
What have any of you done for your will? If you have done nothing specific in your will, then it will simply be transferred to your spouse with the rest of your estate.
In the process of updating my will and this topic came up.