Questions about Single Shot trust from Silencer Shop

**sandsunsurf** · 04-05-17, 19:24

I'm surprised there's not already a thread about this. They seem to be pushing them pretty hard, and they are dirt cheap (free right now on some cans), and there seem to be some benefits. Has anyone here purchased one? If anyone has, then have you had it read by a lawyer to see how well it's written? One aspect that seems interesting is that in the comparison chart, Silencer Shop marks "Easily Transfer Ownership" as Yes. I'm wondering does this mean no additional tax stamp, because the trust beneficiary or grantor changes? I'm sure a couple people will tell me not to bring this up, but I'm CERTAIN that ATF is already aware of how SS is marketing this.

In short, does this seem like a good and safe purchase? I'm very intrigued.... And I've got quite a few cans that I would have transferred long ago if they were "easily transferred" without another $200 stamp.

**A5scott** · 04-05-17, 20:48

I'm not sure you can change the grantor without invalidating the trust. Beneficiaries, however, can be added or deleted at any time, which is how you can have more people on the trust without needing everyones' fingerprints.

I can't say if this os legit or not, but I imagine their legal team that wrote the trust must have done their homework.

Yeah they are getting creative to sell cans, cause few are buying right now, and many waiting for HPA

I would consider this option.

Scott

**ChrisG19** · 04-06-17, 05:37

IANAL but I'm fairly certain the grantor cannot be changed. Trustees and beneficiaries can be changed. The transfer ownership thing was brought up on TOS and Silencer Shop said the original attorney would have to be involved.

**RedDawn** · 04-06-17, 17:49

I thought that in order to transfer a $200 stamp is required with both copies of trust and transfer forms. Then wait on approval again. That's what I did before the changes.

**sandsunsurf** · 04-06-17, 23:27

Okay, I read all four pages on TOS. Ugh. I asked here because TOS has A LOT of "white noise" in between the good stuff.

A5scott gets it right. But I learned a bit more (I think) that I can summarize for others here: The trust is a good, simple and cheap trust, without a need for a notary. If you are intending on "selling" the trust, you best consult a lawyer first. "Easily transfer of ownership" goes back to being able to modify the trust to add and remove other responsible persons after approval. The idea of one trust per NFA item is intriguing in that it does give quite a bit of flexibility, and I'll probably do one of these single shot trusts in the near future if SS has a can I want.

**eodinert** · 04-07-17, 08:19

I've been doing a new trust for nearly every item since they required the schedule A to be sent in (not just the 'certification of trust). Essentially, it's the same trust with a new name, every time. I was doing it because I'm pretty sure I'm a passive-aggressive asshole, but especially in light of changes to the approval process, it makes more sense than ever.

**SC-Texas** · 04-09-17, 11:25

No need to even change the name

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**Kill By Number** · 04-15-17, 14:37

I have an old traditional trust that wasn't flexible so picked the single shot on my SBR. I'm no lawyer but it gives the biggest trust benefit (multiple users) with no drawbacks I can see and for $25. We are a class 3 dealer and see a lot of trusts and this definitely solves a lot of issues inexpensively. A good traditional trust still works great with SilencerShops kiosk since all trustees can save their info for all future purchases. Paper route with a traditional trust is a pain if you plan on multiple purchases.