SIGforum.com    Main Page  Hop To Forum Categories  Suppressed Weapons    What to do with NFA items ...
Go
New
Find
Notify
Tools
Reply
  
What to do with NFA items ... Login/Join 
Member
Picture of kimberkid
posted
I'm not depressed or sucicidal or anything like that but it's been on my mind lately mainly because my health isn't great, I'm 60 and in the last few generations only my grandmother has lived past 75. I've got more than a couple NFA toys and 2-3 times as many title one guns and no other gun-nuts in the family to pass them down to.

The NFA's are in a Trust, but I doubt anyone in my family knows the difference between a title 1 and NFA item is. Since I'm the only one that's interested in them should I just enjoy them while I can and let my wife and daughter deal with it when I'm gone, start thinning them out now myself over the next 10 years or so ... Or just play it by ear?

To be honest, some guns haven't been shot in a decade or longer but I keep thinking I'll get them out, but there just doesn't seem to be enough time in the day/week/month/year ...

Does anyone else have decisions like this to make?


If you really want something you'll find a way ...
... if you don't you'll find an excuse.

I'm really not a "kid" anymore ... but I haven't grown up yet either Wink
 
Posts: 4069 | Registered: January 11, 2007Reply With QuoteReport This Post
Member
posted Hide Post
quote:
Since I'm the only one that's interested in them should I just enjoy them while I can and let my wife and daughter deal with it when I'm gone, start thinning them out now myself over the next 10 years or so ... Or just play it by ear?


I think you need to go to the range and shoot everyone of them and post back here afterwards. I am serious about that, then you will know your answer. My father used to always say it is later than you think. None of us is promised tomorrow, so enjoy the day.
 
Posts: 1133 | Location: MS GULF COAST | Registered: January 02, 2015Reply With QuoteReport This Post
Member
posted Hide Post
The trust would at least allow you a tax free transfer to a beneficiary. Not sure where that puts you as far as their liquidating them after your death. The secondary market for suppressors and to a lesser extent, SBRs is pretty soft because of the complicated nature of the process and the $200 tax.

Might not be bad to at least reduce some of it, but you'll likely be unhappy with the returns.
 
Posts: 1896 | Location: Iowa | Registered: February 24, 2011Reply With QuoteReport This Post
Cat Whisperer
Picture of cmr076
posted Hide Post
quote:
Originally posted by DaBigBR:
The trust would at least allow you a tax free transfer to a beneficiary. Not sure where that puts you as far as their liquidating them after your death. The secondary market for suppressors and to a lesser extent, SBRs is pretty soft because of the complicated nature of the process and the $200 tax.

Might not be bad to at least reduce some of it, but you'll likely be unhappy with the returns.


I'd also make sure someone trustworthy knows the actual values of the guns. Can you imagine some slippery asshole buying a DIAS for the cost of an over the counter AR15.


------------------------------------

135
├┼┼╕
246R
 
Posts: 3238 | Location: SE PA | Registered: November 13, 2010Reply With QuoteReport This Post
Member
posted Hide Post
Important info posted directly above.
 
Posts: 1297 | Registered: December 03, 2006Reply With QuoteReport This Post
Member
Picture of kimberkid
posted Hide Post
After reading DaBigBR's comments, I realize I'm pretty well covered, but the worst could happen at any time ... or I could be like my Grandmother and live to be 99. I have some trust-worthy friends that would help her and she know's who they are, but I think detailing some disposal guidelines might be the best answer ... little things like selling the uppers separately from the lowers, and removing the lowers from the NFA registry so she could do what-ever she thought best with them ...

I am one a lucky guy, in that I can tell my wife what I've got and it's value; she's never surprised when I come home with a new gun; she also knows that if there is a need, there aren't any that I wouldn't sacrifice, and only 2 that I don't feel like I could replace. I try to keep a current spread-sheet of my guns, serial numbers and their values/what I paid in the safe with our Will and my Trust. My wife and my son are beneficiaries of my Trust; and they know the guns on it are NFA and require special paperwork to sell. She's smart enough to match up serial numbers to see what something is so hopefully no one will take advantage of her, but it's really not "her thing" ... my son has his own business and family and likely won't have time to be of much help.

We updated our Will about 5 years ago and to the best of my knowledge there is nothing my wife or daughters want; only my son has said he would like to have grandpa's Savage Little Scout, a Marlin 39a I rescued, and an engraved 1957 Colt 1911NM that my wife gave me for my 57'th birthday; he would like to have those as family heirlooms; but doesn't have any interest in anything else, he's not a shooter ... he use to go out shooting with me on rare occasions, but it was just to spend time with me.

Like many here have (or may have at some point) a considerable investment in, not only firearms, but all the stuff that goes with them; sling's scopes, mags' and ammo ... then there are reloading presses, equipment and other tools (over the years, besides AR's, I've built AK's, HK's, re-barreled and brought back to life several) and it's likely that no one, other than a gun-nut would see the use in that stuff, or even know the best way to sell it and like DaBigBR referred to, when I'm gone, I want her to get everything out of my toys that she can.


If you really want something you'll find a way ...
... if you don't you'll find an excuse.

I'm really not a "kid" anymore ... but I haven't grown up yet either Wink
 
Posts: 4069 | Registered: January 11, 2007Reply With QuoteReport This Post
Be not wise in
thine own eyes
Picture of kimber1911
posted Hide Post
Any grandchildren?
Definately would want to try and keep them in the family.



"This American carnage stops right here and stops right now.”
Donald Trump (POTUS) Jan. 20th 2017

"ΜΟΛΩΝ ΛΑΒΕ!" King Leonidas of Sparta
 
Posts: 2164 | Location: NC | Registered: December 05, 2004Reply With QuoteReport This Post
Go ahead punk, make my day
Picture of RHINOWSO
posted Hide Post
I'm more than willing to be adopted. Wink

Seriously, it might be time to do a slow draw down on some of the ones you don't shoot often / ever.

WRT to the NFA stuff, it would probably be good to add the wife / son to the trust for legal purposes, as well as creating a "How to" document about them - maybe with the name / number of an NFA savvy lawyer (HeavyD?) to call when the time comes for them to deal with them, so they don't get taken advantage of or do something illegal with them like sell a MG as a rifle, etc.




read what you want
watch what you want
play what you want
think what you want
say what you want
 
Posts: 34853 | Location: Around | Registered: July 12, 2008Reply With QuoteReport This Post
certified biohazard
Picture of mew
posted Hide Post
Don't forget they can also be removed on request from the NFA registry ie; an SBR, short barreled shotgun or other weapon that gets reconfigured with the change of a barrel, upper etc. and Form 5 transfers to heirs are tax free.
https://www.atf.gov/firearms/d...-form-53205/download


"All that is necessary for the triumph of evil is for good men to do nothing"
Edmund Burke
 
Posts: 375 | Location: Florida | Registered: February 18, 2004Reply With QuoteReport This Post
Go ahead punk, make my day
Picture of RHINOWSO
posted Hide Post
quote:
Originally posted by mew:
Don't forget they can also be removed on request from the NFA registry ie; an SBR, short barreled shotgun or other weapon that gets reconfigured with the change of a barrel, upper etc. and Form 5 transfers to heirs are tax free.
https://www.atf.gov/firearms/d...-form-53205/download
Agreed, but the OP does have some valuable Machine Guns, IIRC.

To declassify those would be a crime of epic proportions, in addition to being a poor financial decision.




read what you want
watch what you want
play what you want
think what you want
say what you want
 
Posts: 34853 | Location: Around | Registered: July 12, 2008Reply With QuoteReport This Post
Member
Picture of kimberkid
posted Hide Post
quote:
Originally posted by RHINOWSO:
I'm more than willing to be adopted. Wink

Seriously, it might be time to do a slow draw down on some of the ones you don't shoot often / ever.

WRT to the NFA stuff, it would probably be good to add the wife / son to the trust for legal purposes, as well as creating a "How to" document about them - maybe with the name / number of an NFA savvy lawyer (HeavyD?) to call when the time comes for them to deal with them, so they don't get taken advantage of or do something illegal with them like sell a MG as a rifle, etc.

Selling down reminds me of when Abby was born; I sold all my HK's to start a 529 collage fund for her ... what a mistake that was! HK91, 93, 94 and SP89 ... I got just over $10K, Now I could get about twice that ... and her 529 has only gone up about 42% in 17 years.

Selling down is hard ... I sold a few to fund a high-end 6.5 Creedmoor a while back ... but you are right, there comes a time to think about what you are leaving behind and how it will be dealt with.

I have started a document of who to contact and how to dispose of my NFA toys and other firearms and I keep the NFA's in a separate safe so they aren't intermingled.


If you really want something you'll find a way ...
... if you don't you'll find an excuse.

I'm really not a "kid" anymore ... but I haven't grown up yet either Wink
 
Posts: 4069 | Registered: January 11, 2007Reply With QuoteReport This Post
Stupid
Allergy
Picture of dry-fly
posted Hide Post
For awhile I assumed I would pass along my small collection (NFA and non) to my brother in law. I've since changed my mind after they nearly divorced. There is no one else in my family that appreciates what I have. In my situation we do have a 6yo girl. My firearms will pass to a best friend I've known for over 20 years and he is to offer them (one, any or all) to our daughter once she's of age and it's appropriate. Otherwise, they're his to keep.


"Attack life, it's going to kill you anyway." Steve McQueen...
 
Posts: 3918 | Location: TEXAS | Registered: July 18, 2005Reply With QuoteReport This Post
Member
Picture of kimberkid
posted Hide Post
That's a great idea, if she develops a like for shooting ... I tried to start my youngest at 7 ... She had gone with me a couple times just shooting 22's ... I got her a cricket and the first time we went out, after she pulled the trigger she dropped the gun on the bench and jumped back with a look of terror on her face and said "IT JUMPED!"

Now I was sitting on a stool right behind her and at first her reaction scared me because I didn't understand what she was talking about, she did everything right and even hit the 8x12 target at 25 yards ... Then it sank in, she was talking about the recoil! I kind of laughed and told her that's just the bullet leaving the barrel ... I think it really took her by suprise but I'd told her about it ... It may have also hurt her feelings that I laughed but after that it's been a rare occasion that I can get her to go, and she's 17 now so I doubt she'll ever be a shooter.

I guess I should just be glad my son wants the ones he wants and as long as whoever ends up with them comes close to following my guidelines, they should end up with a good bit of coin in their pocket, and maybe they'll do something constructive with it.


If you really want something you'll find a way ...
... if you don't you'll find an excuse.

I'm really not a "kid" anymore ... but I haven't grown up yet either Wink
 
Posts: 4069 | Registered: January 11, 2007Reply With QuoteReport This Post
Staple Gun Extraordinaire!
Picture of sig-x
posted Hide Post
Sell what you don't shoot much. It will make life easier.
 
Posts: 9938 | Location: SE MI | Registered: November 24, 2005Reply With QuoteReport This Post
Member
Picture of Tiger 2 Tank
posted Hide Post
Well, this isn't any easy decision by any means. Some of my collector friends are up there in years and have thought of a few things to do. One has a HUGE collection, lives by himself and has relatives that are not into guns at all. So, what he is in the process of doing now is selling everything off except a few rifles and pistols that he is too attached to to get rid of. His house is a virtual museum, so a lot of stuff is going. Another collector acquaintance is not seriously old yet, but his idea was that he was going to get an FFL and once retired, start selling everything off. He also has a HUGE collection.

Me, I have no idea what to do. Sell the items off so that my wife won't have to deal with it? Or, start doing research and pick a dealer or friend that will help your heirs in those days when you are gone. Make a list for your wife and executor of what everything is going for and what can be expected price wise. Then instruct wife or executor to get with that person for the sale. It sounds like they will need to be sold because nobody will understand or appreciate a collection like that.

One more thing...CHEER UP! Life is not over once you are gone from this Earth! And, 75 years old, most people don't live that long anyway, so you're not the only one AND 60 is a long way from 75. Everything in the end will all work out. Just need to do a little creative planning on your part that's all.
 
Posts: 932 | Location: Texas | Registered: May 14, 2004Reply With QuoteReport This Post
Member
Picture of SIGfourme
posted Hide Post
Who has the combination of the safes?
Similar situation--my best friend has the safe combo's and current inventory. Instructions are for my wife to call him--he decides on value , etc.
The gun collection has done better than the stock market.
 
Posts: 1047 | Location: Southeast CT | Registered: January 18, 2009Reply With QuoteReport This Post
Member
Picture of xl_target
posted Hide Post
quote:
...I tried to start my youngest at 7 ... She had gone with me a couple times just shooting 22's ... I got her a cricket and the first time we went out, after she pulled the trigger she dropped the gun on the bench and jumped back with a look of terror on her face and said "IT JUMPED!"Now I was sitting on a stool right behind her and at first her reaction scared me because I didn't understand what she was talking about, she did everything right and even hit the 8x12 target at 25 yards ... Then it sank in, she was talking about the recoil! I kind of laughed and told her that's just the bullet leaving the barrel ... I think it really took her by suprise but I'd told her about it ... It may have also hurt her feelings that I laughed but after that it's been a rare occasion that I can get her to go, and she's 17 now so I doubt she'll ever be a shooter.

There is always hope.
When my daughter was five she wanted to try her grandfather's .22 pistol. I held my hands around hers and allowed her to pull the trigger. I think the shot startled her a bit. I never pushed her do any more and she never asked after that. I was resigned to her not being a shooter.
When she moved out and started college (at a nearby town), she asked me to take her shooting so I signed her up at my gun club. She had a lot of fun and I would pick her up every Sunday for lunch and we would go shooting for an hour or two. I really cherish the memories of those four years.


My daughter circa 2011 (photo by Oleg)
There is always a chance that your daughter might get interested in shooting at a later age.

This message has been edited. Last edited by: xl_target,
 
Posts: 1903 | Registered: January 15, 2009Reply With QuoteReport This Post
Member
Picture of argolfer
posted Hide Post
I'm fortunate that I have 3 sons that are into shooting and love my gun collection. I have worried about them disagreeing on who gets what when I'm gone though, so we recently sat down and I had them pick out the guns they really wanted out of my collection. We tried to be fair on who got what and they were pretty happy. I have that list so they can reference it. The other guns in my collection they can do what they want when I'm 6-feet under.


___________________________________
No, it's a cardigan... but thanks for noticing
 
Posts: 4345 | Location: Texas | Registered: July 17, 2007Reply With QuoteReport This Post
The guy behind the guy
Picture of esdunbar
posted Hide Post
My will has very clear instructions on how my firearms are to be liquidated if I don't have any interested heirs.

No need to sell off your toys now imo. Just have a 3rd party named who can sell them on behalf of the estate.

If the kids want them, they can split them. If they'd rather have the cash, there is a vehicle by with to sell them (3rd party since my wife/kids have no clue how to value them or sell them).


E.S. Dunbar
________________________________
I'm confused...wait, maybe I'm not.
 
Posts: 5618 | Location: Toledo, Ohio | Registered: April 19, 2006Reply With QuoteReport This Post
  Powered by Social Strata  
 

SIGforum.com    Main Page  Hop To Forum Categories  Suppressed Weapons    What to do with NFA items ...

© SIGforum 2017