I HAVE RECENTLY BEEN ASKED IF A GUN CAN BE LEFT TO SOMEONE IN A WILL
I KNOW A GUN COLLECTION CAN BE LEFT, BUT WHAT ABOUT LICENSED FIREARMS - RIFLES - SHUTGUN - OR IS A BILL OF SALE NEEDED ??
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I HAVE RECENTLY BEEN ASKED IF A GUN CAN BE LEFT TO SOMEONE IN A WILL
I KNOW A GUN COLLECTION CAN BE LEFT, BUT WHAT ABOUT LICENSED FIREARMS - RIFLES - SHUTGUN - OR IS A BILL OF SALE NEEDED ??
There are no such things as licensed firearms in this state. This state has no registry nor does it have a license system except for full autos I believe. I would imagine you can will firearms as long as it is not to someone who is banned from owning firearms.
To my knowledge and from everything ive read i believe you can put a firearm in a will with no problems
Yes, a firearm can be specifically bequeathed to anyone, but the heir must be eligible to possess it when the time comes. You can't leave a handgun to a 12 year old or a felon and have them receive it if they are still underage or felons when you die.
Also, if you narrowly describe what you're bequeathing, it becomes invalid if you ever swap it for something similar. If you leave "all of my guns" to your nephew, he'll inherit whatever guns you own at the time of your death; but if you leave "my Colt AR-15 Sporter and my Beretta Model 92" to him, but in later years you swap the Beretta for a Sig or an H&K, then he won't get the new pistol, and he won't get what the Beretta was worth, either. A specific bequest will only transfer that specific item, so it's often better to describe general categories of things than to be too helpful and list them by make, model and serial number.
[internet ettiquette cop]Quote:
Originally Posted by DENISE52
Just a note, please don't take this the wrong way, but using all caps online is considered "yelling." Please turn off the caps lock as "yelling" in any conversation is not only rude, its really hard on the eyes.
[/internet ettiquette cop]
Were going through that right now, a friend of mine just died 2 months ago and left all his guns in the will. to date were up to 44 guns he had and we know of more in an safty deposit box we need to run to get. its more of a problem getting someone to give an appraisal on all of them, were working on getting that all done since you have to pay tax on anything you get.
If you're talking about ordinary guns, not high-end collectibles, why don't you just use the Blue Book values? Cheaper than hiring an appraiser, and it should pass muster with the Commonwealth. Bureaucrats won't bother disputing the reasonable value of a $500 gun, since the estate taxes won't vary that much if it's really a $550 gun.Quote:
Originally Posted by lethal93ta
If you plan on selling them, then just use the auction price.
BTW, just to clarify for the peanut gallery, the estate pays tax on the value of the estate assets, the beneficiaries don't pay tax.
name and caps looks shady, i don think we'll ever see DENISE52 again.Quote:
Originally Posted by mjfletcher