My Brothers Estate

[EddieWalker]

Will vs. Trust: Which Is Right For You?

A will takes effect upon death but trusts can be used both during the lives and after the deaths of the grantor, or creator.

www.investopedia.com

I'm not as bad as I thought. My wife reminded me that we already have a trust set up. I hate to say this, but I hope I go before her as I'll be lost without her

The irony is she is on about 13 trusts for suppressors and she doesn't even know it. That said, I have some good friends who will handle all the guns for her whom I trust if something should befell me.

I'm curious what your plan is for your guns? My brother had quite a few, and I'm going to sell as many as I can, but I'm not sure on what the law is, or the best way to do this.

One good bit of good news is that my brother had me listed as his next of kin on his bank accounts. Why he had more then one is a mystery, but when I showed them the Death Certificate, they where very helpful. I froze the accounts so no money is going out. He had a lot of automatic payments set up that I don't want to continue to pay. Things like Direct TV, the electric bill and his truck, plus some subscriptions to magazines and other things that kept adding up to several grand a month. I'm just going to let them all cancel themselves.

I spoke to his mortgage officer too, and I'm going to continue paying that bill every month. The loan is close enough to being paid off that it's all principle now.

Ducks are my biggest issues. I've had a few people want to buy some, but they haven't been able to get to his place. It's kind of in the middle of nowhere in some regards. Now I'm going to try to find his competition and see if they want his ducks. Maybe even sell all of his stuff like feeders, waterers, extra netting and maybe even the netting that's he's using now. Each pen is 50x150.

 

[2manyrocks]

Going through a licensed gun broker might be the safest option.

 

[dougtrr2]

Going through a licensed gun broker might be the safest option.

I think it would be the easiest. It doesn't sound like you are worried about squeezing the last dollar out of the estate. So letting someone else take care of this headache will ease your burden. Maybe a little less money, but a whole lot less headache.

Hang in there.

Doug in SW IA

 

[Sigarms]

I'm curious what your plan is for your guns? My brother had quite a few, and I'm going to sell as many as I can, but I'm not sure on what the law is, or the best way to do this.

My son has first dibs on anything. He is still planning on LE after military enlistment (senior in high school now), but I understand at that age, plans can change.

I have a couple of good "real" friends (LOL) who I trust, they know what I have. Either one will get a pick that my wife will give them, and after that, they know to help my wife sell everything I have (wife would only keep a handgun and shotgun and she knows she'd be lost trying to sell them).

Where is get's trickier and I have to look more into it, what to do with my suppressors. My wife is listed on my trust, but I know she won't want them.

When my FIL died in NC, per his wishes, I gave two good friends of his first dibs other than what his grandsons wanted (and one old pistol he wanted one grandson to have), and shipped those rifles to his friends in Vermont via FFL.

Now, per the law, with my FIL, I just shipped them in my name. No probate.

Thing is, because your brother was single, not certain how the "transfer" would work if he didn't sell them to you. Assuming no one knows how many guns there were, I would only assume your brother did a FTF sale to you in the past and your mother would agree to that statement (assuming Texas laws are no different than NC laws for face to face sales).

Hope that makes sense.

 

[Sigarms]

Going through a licensed gun broker might be the safest option.

As long as the guns are Eddies to sell, shipping across state lines use a FFL. For the sell price to let them go, have no doubt that the sell price would make up for the FFL transfer fee and shipping.

Advertise on Gunbroker.com You'll get a "national audience" to see what you have to sell.

Face to Face sale in Texas I can only assume wouldn't be any harder than it is in NC.

If there are some higher end guns, work through a FFL and gun broker will take a fee, but you'll probably sell them for more money.

Sold a gun for my FIL when he was alive. Got close to $1,400 for it, and I had it appraised at $950 (1899 year it was made, good condition). Gunbroker online fee was like $60 plus $80 for shipping FFL. My FIL was tickled pink.

 

[2manyrocks]

Free duck with every gun purchase.

 

[airbiscuit]

"He had a lot of automatic payments set up that I don't want to continue to pay. Things like Direct TV, the electric bill and his truck, plus some subscriptions to magazines and other things that kept adding up to several grand a month. I'm just going to let them all cancel themselves."

Freezing the account so you get notifications of these obligations is a good idea. I wouldn't assume they will cancel themselves - they will just keep accumulating charges and late fees. I would recommend that you manually cancel these accounts once you are aware of what they are.

There are so many things to reconcile, and it sounds like you are doing a good job.

 

[JasperFrank]

Took me 15 years to sell off the legacy, that my father thought was an asset, as to firearms. I discovered a few things, about the guns he had bought, and those had to be destroyed as he didn't have a Class III to own any of it. As said earlier, a lawyer is a well spent amount. You have privilege in conversation.

 

[tradosaurus]

Took me 15 years to sell off the legacy, that my father thought was an asset, as to firearms. I discovered a few things, about the guns he had bought, and those had to be destroyed as he didn't have a Class III to own any of it. As said earlier, a lawyer is a well spent amount. You have privilege in conversation.

Interesting. What state did your Dad live in?

I would bury the guns (packed in seal tight container in cosmolene) before I ever destroyed them.

 

[EddieWalker]

Advertise on Gunbroker.com You'll get a "national audience" to see what you have to sell.

Thanks, I wasn't aware of this website. I'm going to read up on what it takes to sell on there.

I'm running out of options on the safe, so it's becoming more likely that I'm going to use the grinder and cut a hole in the door.