Do you have a will? What other post-death plans have you arranged? Are you sure you’ve covered everything?
No one likes to think about death, especially their own. It’s unpleasant and uncomfortable to contemplate. That said, proper estate planning can greatly simplify things for your loved ones after you’re gone. A detailed and comprehensive will can prevent fighting, arguments, resentments, and undue stress on your family.
Money, real estate, and sentimental possessions are things that most people remember to include in their will. There are many people, however, who forget to include their guns in their estate when planning their will. So the question is, what happens to your firearms after your death?
What Happens When an Executor is Responsible for Guns?
At the time of your death, your gun license is automatically transferred to the executor of your will so that they can make safe decisions about your firearms. It allows them to deal with your guns in whatever manner you’ve specified. However, it’s a temporary license and will not be transferred to the recipients of the guns. If they want to keep the firearms, they’ll need to get their own license and register the guns themselves.
Similarly, if the executor plans to keep the firearms for themselves, they’ll need to get their own gun license as soon as possible, as yours will expire soon after you do. If your chosen executor is not legally allowed to possess firearms, they can transfer them to someone else who does have the legal ability to do so. Of course, it would be best to just choose an executor who is knowledgeable about guns, so they’ll be able to make well informed decisions. But the reality is that that’s now always possible and things can get very complicated for your executor if you haven’t made the right arrangements.
If you haven’t made specific arrangements about what to do with your firearms after death, your executor also has the option of bringing the guns to us here at GTA Guns, where we can take them through the official transfer process. We can then safely auction the guns and provide the executor with the proceeds of the auction.
Death and Taxes
There are two things you can’t escape, death and taxes. Heck, even after death you can’t avoid taxes!
One reason why many people do not wish to will their guns to their friends and family members is because they’ll then need to pay the estate administration tax on the guns they receive. This is a tax that’s charged on the total value of your entire estate after you die. If your gun is part of that estate, taxes will automatically be charged.
Is there anyway to avoid these taxes? You bet. Instead of putting your firearms in your will to be bequeathed to your loved ones after your death, our advice is to cut out the middleman. Instead of waiting, simply give your guns to the people you want to have them right now, during your twilight years. Ensure that they do want the guns and have them obtain their permit right away so that they can receive them as soon as possible. That way, you’ll avoid the tax issue entirely and be able to enjoy the guns with them while you’re still alive!
Safe Gun Storage
If you haven’t made any plans to deal with your guns after your death, and you’re at risk of leaving them for your widow or other loved ones to deal with, you can save them a great deal of unnecessary stress and work by using our GTA Guns safe storage. As it will be your Executor’s responsibility to store the guns safely and securely after your death, you can make things far easier by simply storing them with us. That way, your loved ones will not have to worry about the hassle, and you know that all of your guns will be safely taken care of by the firearm professionals here at GTA Guns.
Auction your Guns now and Enjoy a Nice Profit
On the other hand, if you know that none of your friends or family will really appreciate your gun(s), why not auction them off now and enjoy the money? Did you know that guns are highly in demand at our auctions and that many senior citizens just like you who are no longer actively using their firearms are benefiting from great cash returns from our auctions?
If you’d like some more information about all things guns, please feel free to follow us on Facebook and Twitter or visit us at GTA Guns for all of your gun auction and gear needs!