Pre-filing purchases? (firearms)

[Diesel73L]

We will have a lot of exemptions since we're filing jointly under federal exemptions and our home is underwater. We plan on buying the usual exempt items to use up cash before filing (groceries, etc...) but we should have enough cash left over that we'll need to exempt that too anyway. So I figure why not buy some of the things we need, which is really not much, but one thing that comes to mind is a home defense weapon. I have a NJ Firearms purchasers card so I can legally purchase and own firearms but I've never actually bought any. The guns we did have in the house belonged to my father. I gave them all (two shotguns) back to him explaining that I was going to purchase my own eventually. Basically I just wanted to be aboveboard when it came time to file. Though those guns had been in my home for 3-4 years, I didn't purchase them and didn't own them, so I gave them back to their rightful owner. Long story short I want to purchase a home defense shotgun that my wife can handle as she is home alone a lot now (she is unemployed and I have taken on extra responsibility at my job). The gun I'm looking at should cost about $300-the way I look at it, if I don't buy it, we're just going to end up having to exempt another $300 in cash-six of one, half dozen of the other. Will the trustee see it differently-maybe as a "luxury purchase?" If I have to wait until after we file (probably a month or two from now) it's no big deal, there is just a good deal on one on the internet right now that I'd like to jump on if possible.

[AngelinaCat]

I don't think you will have any problems with a home defense gun. Many people have them for that purpose. Many people also have them for hunting purposes. You will need to see if your personal or household exemptions will cover it.

You also did not need to give the shotguns back to your father in order to file. You could have listed them under the category that covers items that are in your possession, but belong to someone else.

Good luck to you!

[AngelinaCatHub]

I agree that you should have self defense stuff. A shotgun is a bit unhandy for a woman to quickly use, and makes a terrible mess when used. I suggest a small handgun. Glock? Also, you will need to list this/these items. Depending on how liberal your Trustee is, it may strike him wrong. I'm sure it would in NY.

As Mrs. Cat said, you could use the "loaned" guns from Dad, put your extra money into storeable food, soaps, and household needs you will use or could barter with. I'm a "Prepper", see Youtube. 'Hub

[frogger]

I agree that you should have self defense stuff. A shotgun is a bit unhandy for a woman to quickly use, and makes a terrible mess when used. I suggest a small handgun.

Nothing better than a shotgun 'Hub! Get you a pump action Mossburg. They're relatively inexpensive, last forever, and are user friendly.

And.... if you must use a firearm, a terrible mess is what you're looking for. You want for it to be absolutely terrible for the person on the receiving end.

[AngelinaCatHub]

Nothing better than a shotgun 'Hub! Get you a pump action Mossburg. They're relatively inexpensive, last forever, and are user friendly.

And.... if you must use a firearm, a terrible mess is what you're looking for. You want for it to be absolutely terrible for the person on the receiving end.

LOL. Yes, I know. 'Hub

[Diesel73L]

So based on the replies here it seems that as I thought, exemptions are exemptions are exemptions. Obviously I'll consult with my attorney who has all of our financial documents at this point, but I expect (as did he when we went over preliminary stuff) that we'll have plenty of exemptions to spare because of the unused homestead exemption for each of us.

I agree that you should have self defense stuff. A shotgun is a bit unhandy for a woman to quickly use, and makes a terrible mess when used. I suggest a small handgun. Glock? Also, you will need to list this/these items. Depending on how liberal your Trustee is, it may strike him wrong. I'm sure it would in NY.

After a lot of debate with fellow gun nuts I settled on this little guy:

http://www.endtimesreport.com/homedefense.html#BEST

One excellent .410 bore shotgun for home defense was actually designed specifically for that task...wonder of wonders. The Mossberg HS410 (the "HS" an acronym for "Home Security", model #50359) is a 6 shot pump action shotgun with an 18 ½" barrel having a spreader choke, ideal for close action shooting in home defense situations. The stock is synthetic and the right length of pull for women and older children (but still works with large men), the action extremely rugged and reliable, and the short length makes it very handy in confined spaces. The price? About $360.00 in 2005. Discontinued, but well worth the effort to find a used one.

The nice thing about the .410 is its low report, low recoil, light weight, etc...many folks will poo poo its abilities, but the fact that the Taurus Judge (handgun which shoots .410 cartridges) has become so popular has spurred a new market in .410 defense loads. I've seen some very convincing tests of .410 3" 000 Buck with copper washed pellets that would be more than suitable for any close range home defense scenario.

[ValleYum]

As long as the shotgun is not valued at over $550; it should fit under the federal exemption's personal property category with the items like animals, crops, clothing, appliances, books, furnishings, household goods, musical instruments up to the limit of $11,525 total for the category (doubled if filing jointly).

Good luck with your filing - sounds like you are getting close!!

[Diesel73L]

As long as the shotgun is not valued at over $550; it should fit under the federal exemption's personal property category with the items like animals, crops, clothing, appliances, books, furnishings, household goods, musical instruments up to the limit of $11,525 total for the category (doubled if filing jointly).

Good call-I wasn't really thinking of the individual value. Regardless-I haven't seen this gun listed for more $350 anywhere so I think it's safe to say it passes that test.

Good luck with your filing - sounds like you are getting close!!

Yes! And for the most part the calls have stopped as well-not sure if they're calling the attorney, all I know is I'm not constantly hitting "ignore" on my cell phone anymore ;)

[jacko]

If you need to exempt your excess cash, you can always load up to a IRA.

We will have a lot of exemptions since we're filing jointly under federal exemptions and our home is underwater. We plan on buying the usual exempt items to use up cash before filing (groceries, etc...) but we should have enough cash left over that we'll need to exempt that too anyway. So I figure why not buy some of the things we need, which is really not much, but one thing that comes to mind is a home defense weapon. I have a NJ Firearms purchasers card so I can legally purchase and own firearms but I've never actually bought any. The guns we did have in the house belonged to my father. I gave them all (two shotguns) back to him explaining that I was going to purchase my own eventually. Basically I just wanted to be aboveboard when it came time to file. Though those guns had been in my home for 3-4 years, I didn't purchase them and didn't own them, so I gave them back to their rightful owner. Long story short I want to purchase a home defense shotgun that my wife can handle as she is home alone a lot now (she is unemployed and I have taken on extra responsibility at my job). The gun I'm looking at should cost about $300-the way I look at it, if I don't buy it, we're just going to end up having to exempt another $300 in cash-six of one, half dozen of the other. Will the trustee see it differently-maybe as a "luxury purchase?" If I have to wait until after we file (probably a month or two from now) it's no big deal, there is just a good deal on one on the internet right now that I'd like to jump on if possible.

[btbeme]

If you need to exempt your excess cash, you can always load up to a IRA.

As long as you have been doing so for a year or two, that would be OK. But if your typical habit is to put in little or nothing for the last several years and then dump a couple grand in the IRA just before filing... guess what a Trustee will say?


I caught this thread too late to make the recommendation for a shorty .410 as a home defense weapon. I've had a .410 Snake Charmer for some 35 years - grew up in Montana, where it was very useful as, well, a snake charmer while riding, working fields, etc. Somewhat limited range and power, but perfect for sticking into the face of any vermin that is actually close enough to do you harm. Depending on the load, a .410 makes a very effective close-range weapon (be aware of your backdrop when firing, though - pellets spread and bounce).