Question: “I am the executor/representative/administrator of an estate that contains firearms, what should I do about the firearms in particular?”
Answer: Firearms are unique assets that are a part of many estates. As an executor/representative/administrator, one of the very first things you should do to protect your assets and minimize your legal liability is to compile a complete and accurate list of each firearm. This list should at a minimum include the following information on each firearm: manufacturer, importer, model, type, caliber, and serial number. It is important to ensure this list is accurate, thorough, and complete. While it is not uncommon for some collectors to keep a list of the items in their collection, many do not. The main reason it is important to compile a list early on is to protect your assets from theft. Unfortunately, it is all too common in estate situations that firearms get stolen (often times by a disgruntled family member who feels they have an entitlement or by thieves who take advantage of easy access to unoccupied dwellings). Having a complete and accurate list gives you the ability to properly report what is stolen to the authorities which in turn allows them to return your firearms if they are ever found and recovered. It also aids you with marketing the firearms for sale when the time comes. If you are in need of assistance compiling an inventory of your estate firearms, that is one of the many services we offer. We have a team of experienced and knowledgeable professionals who have handled all types of firearms from around the globe. Our team can quickly identify firearm models, locate key information such as importers (they like to hide their mark!), identify calibers of unmarked firearms, and so much more. Our service is very economical and we can go a step further and provide an unbiased appraisal on the actual current value of your firearms. Better yet, we will also provide an offer to purchase your firearms and we also waive/reimburse all of our compilation and appraisal fees if we come to terms on a deal. We have worked with very large estates with collections in the ballpark of 300 to 400 guns so no collection is too big (or too small). If you are interested in further discussing how we may be able to help you, please give us a call at 757-937-1803 today!