What happens to my guns when I die, and my wife has her LTC??

[Electric Eric]

What will my wife need to do with my guns once I've gone to my Valhalla?
She's got her LTC Class A no Restrictions, too.
I have them cataloged with pictures, serial numbers, pertinent info on them, when and where I got them, printed on paper and on a disk in the Safety Deposit Box.
Will she have to pay a FFL for every transfer??
Thanks!

 

[Wrench75]

I'm not positive but I think she can just take possession of them. Even if she didn't have her LTC she could still have them, pending their final disposition, since she would be the executor of your estate. I don't think she will have to transfer them but she may have to re-FA10 them in her name.

 

[Rick1987]

whoever is the executor of the estate can dispose of the firearms, they have 180 days to do so from the day the estate is settled.

 

[RHJJ]

What will my wife need to do with my guns once I've gone to my Valhalla?
She's got her LTC Class A no Restrictions, too.
I have them cataloged with pictures, serial numbers, pertinent info on them, when and where I got them, printed on paper and on a disk in the Safety Deposit Box.
Will she have to pay a FFL for every transfer??
Thanks!

This happened to my friend. Two guns involved. He died all she had to do was fill out a fa10 form for each and sign diseased in seller box. I called Chelsea and this is what they said. This happened in 2008 and everything has been fine.

 

[Palladin]

This happened to my friend. Two guns involved. He died all she had to do was fill out a fa10 form for each and sign diseased in seller box. I called Chelsea and this is what they said.

this. I did the same with over a dozen

 

[MisterHappy]

Karma?

if so....IN

 

[NewGunGuy]

Kinda creepy talking like that, is everything okay?


Charles.

 

[Quiet]

It all depends on your will, or lack thereof, just like any other property you own in your name alone.
If she's entitled to them, probably just eFA-10 as RHJJ said and you're all set.

Then again, IANAL.

 

[jpm]

He died all she had to do was fill out a fa10 form for each and sign diseased in seller box.

lol hopefully you mean 'deceased' since I don't think they really want to know about any diseases someone may have! ;-)

 

[Matt E]

I just went through and set everything up with trusts, will, POA, and Hcp. I was told that was suffient to have them listed and with a clear beneficiary.

 

[Electric Eric]

Kinda creepy talking like that, is everything okay?


Charles.

Thanks for askin! I'm good, but I drive race cars, ride a Harley, and don't know when to keep my mouth shut when I should.

 

[HKdrummer]

Guns what guns? I don't know what you're talking about......he collected stamps.....

 

[Electric Eric]

She'll be left ok with my Gasser, Harley, tattoo studio, guitars, and guns.

 

[SteelShooter]

Thanks for askin! I'm good, but I drive race cars, ride a Harley, and don't know when to keep my mouth shut when I should.

I think I met you the other night..

 

[RHJJ]

lol hopefully you mean 'deceased' since I don't think they really want to know about any diseases someone may have! ;-)

Ya what ever.

 

[Electric Eric]

I think I met you the other night..

Where at?

 

[Rob Boudrie]

What will my wife need to do with my guns once I've gone to my Valhalla?

There are as many solutions as there are green NES members.

 

[terraformer]

Have your attorney put them in your will to her. Name the ones you have specifically and then put in a clause that covers all those bought that are not specifically named in the will.

 

[RHJJ]

What I said has worked and is been proven. If you have any questions beyond this contact a lawyer.

 

[Rider]

What will my wife need to do with my guns once I've gone to my Valhalla?

If she's anything like my wife, she'll sell them to some bottom-feeding gun buyer to fund her one-way ticket to Maui. Not out of disrespect for me or anything, but dude, seriously, Maui.

The collection, plus insurance money should make for a fairly comfy grieving process.

 

[warpig]

Leave all the guns behind. There are no gun laws in the afterlife!

 

[terraformer]

What I said has worked and is been proven. If you have any questions beyond this contact a lawyer.

Just because it works doesn't mean it is the best (or only) thing. Did you consider interstate transfer issues? Federal law on transfers (which has it's own exception in §921 et seq? Probate issues? Just saying...

If they are in the will, following your advice is how you deal with state law (at least as far as EOPSS and FRB is concerned) but there is more to it than that. Having them in the will is preferable to not having them there.

 

[shamrockjr]

Guns what guns? I don't know what you're talking about......he collected stamps.....

+1

 

[RHJJ]

.

 

[Len-2A Training]

I don't suppose that you bothered to check here.
http://www.northeastshooters.com/vb...laws/5804-ma-gun-laws-fed-ma-inheritance.html

whoever is the executor of the estate can dispose of the firearms, they have 180 days to do so from the day the estate is settled.

You listened well in the seminar. I'm proud of you!

This happened to my friend. Two guns involved. He died all she had to do was fill out a fa10 form for each and sign diseased in seller box. I called Chelsea and this is what they said. This happened in 2008 and everything has been fine.

That which I bolded is NOT required by any MGL (whether diseased or deceased ). What Chelsea "wants" has no relationship to what is required by law.

Have your attorney put them in your will to her. Name the ones you have specifically and then put in a clause that covers all those bought that are not specifically named in the will.

I used to preach this but at a recent seminar I learned (from someone with 1st hand experience) that this is not the wisest thing to do. She told us that it resulted in a formal appraisal being required for estate tax purposes (cost $$) and can trigger an estate tax issue in some cases, plus all these docs are public record for anyone to see/copy at the local courthouse. She suggested a separate letter signed and witnessed and no mention of guns in the Will itself. I've subsequently modified my recommendations accordingly.

Just because it works doesn't mean it is the best (or only) thing. Did you consider interstate transfer issues? Federal law on transfers (which has it's own exception in §921 et seq? Probate issues? Just saying...

If they are in the will, following your advice is how you deal with state law (at least as far as EOPSS and FRB is concerned) but there is more to it than that. Having them in the will is preferable to not having them there.

See above.

 

[Fixxah]

6 months to find a home for them via FFL if unlicensed and nothing in a will. YMMV, IANAL.

-Trolling via S3.-

 

[terraformer]

I used to preach this but at a recent seminar I learned (from someone with 1st hand experience) that this is not the wisest thing to do. She told us that it resulted in a formal appraisal being required for estate tax purposes (cost $$) and can trigger an estate tax issue in some cases, plus all these docs are public record for anyone to see/copy at the local courthouse. She suggested a separate letter signed and witnessed and no mention of guns in the Will itself. I've subsequently modified my recommendations accordingly.




See above.

If someone has enough $$ value in guns to trigger an estate tax, then hopefully they have a good lawyer writing up their will (current valuation is $1 million dollars) and hopefully has a good enough financial planner to have gotten the estate's affairs in order well before it becomes an estate. But regardless if the listing is in the will itself, or a separate letter, the point being is there is a clear intent of transfer to a beneficiary for the property to be executed only after the demise or incapacitation of the antecedent.

 

[Len-2A Training]

If someone has enough $$ value in guns to trigger an estate tax, then hopefully they have a good lawyer writing up their will (current valuation is $1 million dollars) and hopefully has a good enough financial planner to have gotten the estate's affairs in order well before it becomes an estate. But regardless if the listing is in the will itself, or a separate letter, the point being is there is a clear intent of transfer to a beneficiary for the property to be executed only after the demise or incapacitation of the antecedent.

Remember it's when you add the value of all guns, ammo (gold these days), mags, etc. to everything else it could trip over the tax-free limit. I can also think of two people whose collections might come close to $1 Million alone. Hopefully they are smart enough to have a good lawyer set things up, but I have no idea as they are merely casual acquaintances.

 

[terraformer]

Remember it's when you add the value of all guns, ammo (gold these days), mags, etc. to everything else it could trip over the tax-free limit. I can also think of two people whose collections might come close to $1 Million alone. Hopefully they are smart enough to have a good lawyer set things up, but I have no idea as they are merely casual acquaintances.

My point is that the blue collar dude whose house is worth $300K and has 4 guns has different needs than the dude with 500 Walthers (I have met just such a person) whose collection is still likely only $250K-$500K (but when added to his house actually has something to worry about).

 

[Rider]

My point is that the blue collar dude whose house is worth $300K and has 4 guns has different needs than the dude with 500 Walthers (I have met just such a person) whose collection is still likely only $250K-$500K (but when added to his house actually has something to worry about).

It's a fair point, but ultimately, the benefit of physical stuff you own is that your executor or other (hopefully) trusted individual can simply say, "Bob wanted you to have this" and hand you the guns or whatever, no fuss, no muss, whereas if it's in the will, it has to be accounted for in probate, so even if estate tax isn't the issue, you still need to document everything. Yes, there is documentation for the transfer, but you avoid a lot of the legal hassle. This is also a big part of the attraction with revocable trusts. If you put everything in the trust, then when you die, the assets pass to the beneficiaries without probate, thereby avoiding a lot of legal process.