Inheriting Guns: A Hypothetical Question

[Lone_Sheep_Dog]

What if you had a few siblings and you found out you and your siblings inherited ten or more guns? Would you try to divide the guns equally or would you sell all of the guns and split the money? How would you find out the value of the inherited guns?

 

[kingpin008]

Depends on what my siblings wanted to do, and the sentimental value of the guns. If they meant a lot to all of us, of course we'd split them the best way we knew how. If they really weren't that important, than I don't see why selling them would be a problem.

As for determining values, you can always post descriptions (and pictures! LOTS of pictures!) here on THR (in the appropriate sub-sections, of course) and let the many, many knowledgeable folks here help you out.

Or, if you know the make/model/serial/year of production/etc of the guns, you can use Google to search for info, or auction sites (Gunbroker, etc) to find what kind of prices comparable firearms are selling for.

 

[DWH]

duel 4 em

 

[billybobjoe]

My sibblings aren't into guns. I would tell them that they didn't have any value and take them all!!!!

 

[KAK]

Save em for your kids, Then you can chose who gets what.

 

[Lancel]

I can tell you how I handled it. After my father died, our mother laid out my father's guns and told my brother and I to take turns taking what we wanted. Since I already had quite a few guns and my brother did not have many, I took only one and told my brother that he could have the rest. In return, my brother made clear that they were mine to use whenever I wanted. The collection included those handed down from my grandfather and included a vintage muzzle loader, Springfield 1873, etc.

A few years later my brother's anti-gun wife got mad at him and got rid of all his guns - no one knows if they were sold or what. Lost to the family.

Kingpin008's post makes sense to me.

Larry

 

[deadin]

As for determining values

Which "value" should you go for, what they're worth or what they will sell for?
Sometimes a big difference! In many estates settlements I've seen, those that have no interest in the guns want their money NOW. This means that the guns will have to be sold at wholesale. (What they will sell for in a hurry.) Then , later on, they will see a similar gun advertised at a substantially higher price, and blame the "gunnie" for screwing them out of their inheritance. (They won't understand that it probably won't sell, but that's beside the point.) Of course this can be avoided by having the "gunnie" in the family just pay retail for all of them. (If he can afford it.)

I just went through this with my sister. Her late husband had a H-S HD Military I have coveted fot 50 years. (Mainly because it was the first gun he bought in 1946 after coming back from WW2 and I really liked him.)
I paid her absolute top dollar+ for it just to avoid any sibling bad feelings.

 

[MinnMooney]

I would either buy out their share(s) or trade so they'd get something that I didn't have such a desire for.
If they didn't go for either.... hey, bros & sisses are expendable. (Kidding !!!)

I have gone thru several probations and find siblings to be money hunger and unfeeling when they think they'll get money. I probated one estate (my divorced dad who lived with his girlfriend for 30 years) where 3 of us sibs were involved. Minnesota has no such thing as 'common laws spouse' so she had all the rights of an acquaintence and no more. My two siblings were going to kick her out of the house within 6 months so they could get it ready for sale and sell it. She had little money and those two sibs wouldn't share a dime of the sale because - by law - they didn't have to!

Long story short - I got a morgage on the house, had the girlfriend pay 2/3 of the interest while I paid the other 1/3 + P,I & T. I took ownership and paid off my greedy sibs. In return for getting them 'their money' early, they agreed to let me have all of dad's firearms as a 'bonus'. I grew up using some of those guns and they meant a lot to me. I've since given 2 of those guns - the two that meant the absolute most to me - to my son who really cherishes them. I use the old Rem. 721 .30-06 for my go-to deer hunting rifle and it helps to keep my memories of dad alive while I'm sitting in my stand.

 

[gyvel]

hey, bros & sisses are expendable.

That's right; Siblings come and go, but guns are forever...

 

[kingpin008]

Lancel - I found out about a very similar situation regarding a Luger my great-uncle Rudy brought back from the war.

Apparently the war took a pretty big toll on him mentally, and he died a few years afterwards in an institution. Shortly afterwards, his wife "got rid" of the Luger. Nobody knows exactly what she did with it, but like your father's guns, it was lost to our family forever because she didn't want it sitting around the house.

I'm not one to arbitrarily hold onto any item, even if it had some sentimental value, but things like that are just sad.

 

[mgkdrgn]

How would you find out the value of the inherited guns?

The only way to know for sure is to count the money you have in your hand after the sale.

 

[gym]

We split em up. If it's a group that doesn't get along, sell them off to a broker or people who buy estate sales, be done with it.

 

[MinnMooney]

post #13 : "gym"

If it's a group that doesn't get along, sell them off to a broker or people who buy estate sales, be done with it.

It means much, much more to me, obviously, than to you.

I hunted my whole life with most of my relatives and so many rifles, shotguns and handguns mean too much to me to ever let them be sold to strangers. I'd have them appraised and then either buy out the others' share or trade some other inheritance items.

Once they're gone, they're gone. The stories and memories can fade all too easily and there's nothing to hand down to the next generation. There's nothing like a material object to keep memories alive.

 

[Cosmoline]

Remember that what you want to happen and what happens aren't always the same thing. In all the past deaths in my extended family, one of the more seedy relations will invariably snatch up the guns before anything can be done with them. They are mysteriously gone when it comes time to divide things.

 

[Corey]

In my family we had to divide up some items from an uncle that died (no firearms). We laid out the items on a table and everybody got a chance to look them over. Then we went through the items one at a time and anybody that wanted the item raised their hand. If more than one person raised their hand, then by previous agreement we simply flipped a coin. No arguments, no hard feelings.

When my mother died it was a little different. She collected native american (eskimo) art, some of it quite valuable. Many of the pieces none of us were really interested in (just didn't fit in with our styles). Those went to a museum. A couple of very nice pieces all of us deperately wanted, but we didn't want arguments and hard feelings. Those are on a rotating schedule. Each of us gets a piece for one year, and every year at Christmas it gets sent to the next person on the schedule.

While these were not firearms, similar arrangements could be done so that everyone gets the ones that mean the most to them. If there still is no agreement, then I would go with selling them and splitting the money.

 

[gym]

Min, Obviously you should have the right of first refusal, Min, I thought that was just common sense. But some families are spread across the country and aren’t concerned as others. I didn't mean to trivialise your possesions. My uncle died and he left me the pick of 6 rifles, I still have his Browning, that was 46 yrs ago

 

[TheDawgfather]

My parents haven't died, but my sister and I have already decided that I get all the guns, she gets the china. We're both happy with the deal.

 

[Larry Ashcraft]

When my dad passed, he left a decent collection of firearms. All the ones that didn't have family history were put up for sale, with the money going into mom's estate.

There were about ten or twelve remaining guns that did have family history. My two brothers and I spent an evening deciding who got what. I think we all came away satisfied. None of the guns were particularly valuable, but some had been in the family for up to 80 years, so they all had value to us.

 

[shotgunjoel]

A few years later my brother's anti-gun wife got mad at him and got rid of all his guns - no one knows if they were sold or what. Lost to the family.

Ouch, not good. My cousin pawned my grandfather's old SxS for drugs. That one made me happy.

 

[wrs840]

The will or the executor of the estate should decide who gets what, and sometimes people won't be happy. I hate to see family property sold off so money can be split. Losing grandmom's blanket chest and granddad's old over/under in the name of monetary "fairness" is something I think squabbling heirs almost always end up regretting.

Les

 

[CoRoMo]

...one of the more seedy relations will invariably snatch up the guns before anything can be done with them. They are mysteriously gone when it comes time to divide things.

This has happened within my family, and I fully expect it to happen again.

The exception to what I'm about to say is the example that Larry posted about the many-decades-old heirlooms. The attachment that you have with your father's/grandfather's guns might not be shared by the next generation. It's hard to instill that sentimental value into your kids, who might never have hunted with their granddad and don't know much about his guns. Eventually, they will all possibly be sold off, and you might want to make sure that they are sold off right.

I can't really say that I have much use for my granddad's guns, or all of father's guns for that matter. There are a few of my dad's guns that I would like to have, but most all of them would be kept around just for the sake of it. I'm not really into that. If they are going to be sold off, I don't want it to happen after my death, by my widow, or any less-than-knowledgeable relative who doesn't see the market or family value in the gun. In stead, I would prefer to be the one who sells the guns that have been passed down. That way they don't end up being sold to some guy who only wants a few parts off of the gun, or to a pawn broker who buys the whole lot of them for his shop, or to some dealer who'll simply flip them on Gunbroker because he got them at a steal. I'd rather be able to sell them for a fair price and pick the next owner of a family gun, so that I can feel like it found a good home and will be respected for its part.

Just the way I look at it.

 

[ms6852]

As the elder of the siblings I have first choice than down the line. But more than likely I would find out which of my most financially strapped brother liked and probably let him have it. The other brothers would agree. My brothers give their guns like it was a six pack of beer. Just between us, though.

 

[InkEd]

That anti gun sister in law should be disowned. No I'm not joking. She had no right ot get rid of something that was part of your family history. She sounds like a b with a capital c. How do you not know what happen to bunch of guns. Sickening. Period.

In regards to the original post I would take them all if the siblings have no interest in them. If they do for sentimental not monetary reasons then pick and choose to the best of your benefit.

 

[InkEd]

That anti gun sister in law should be disowned. No I'm not joking. She had no right ot get rid of something that was part of your family history. She sounds like a b with a capital c. How do you not know what happen to bunch of guns. Sickening. Period.

In regards to the original post I would take them all if the siblings have no interest in them. If they do for sentimental not monetary reasons then pick and choose to the best of your benefit.

 

[litman252]

I have a grandpa that is still here, I'm into guns as well as 2 of his sons and 2of his grandkids counting me. I solved the problem by asking for one gun already, about a year ago. He said he would tell me when I could have it. About 9 months ago he called and told me to come pick it up, they were moving to town. I sent him an Email thanking him and he replied for written record of him giving it to me.
I don't expect a fight when he is gone, but it's one thing he had that I wanted to think of him for many years to come and it's not for sale!

Tony