Weapon / item transform axis

Hello Peter 

i am having issues with a weapon on my humonoid character. I have exposed the weapon / item so it’s visible. 
i must have accidentally patented it wrongly because when I need to make some adjustments to it it’s transform move or rotation gizmos/ axis are not at its correct place but rather on the bottom of the character.

How do I unparent?? 
how do I apply or revert so the item gets its pivot axsis back?