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Posted: 2/2/2018 12:12:01 AM EDT
I'm looking into setting up a trust for NFA items, is the Easy Trust service/ product from SilencerCo something I should consider? Or should I go another route?

Thanks
Link Posted: 2/2/2018 7:29:50 AM EDT
[#1]
I like the silencer shops 1 shot trust fast and easy for the first one and then even faster for each new nfa item
Link Posted: 2/2/2018 7:54:36 AM EDT
[#2]
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Quoted:
I like the silencer shops 1 shot trust fast and easy for the first one and then even faster for each new nfa item
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Why would you pick the single shot over Silencer Shops gun trust? Isn't the gun trust a lot more flexible?
Link Posted: 2/2/2018 10:39:08 AM EDT
[#3]
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Quoted:
Why would you pick the single shot over Silencer Shops gun trust? Isn't the gun trust a lot more flexible?
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Quoted:
Quoted:
I like the silencer shops 1 shot trust fast and easy for the first one and then even faster for each new nfa item
Why would you pick the single shot over Silencer Shops gun trust? Isn't the gun trust a lot more flexible?
Is what he's referencing not a trust?
Link Posted: 2/2/2018 3:51:14 PM EDT
[#4]
I like the idea of each item on a separate trust. If you go to sell it you can add the buyer to it and he can take the item while waiting for his paperwork to get done.  No waiting a year to finish the deal.

yes the single shot trust is a trust. go to silencershop.com and you can see the details.
Link Posted: 2/3/2018 3:47:53 PM EDT
[#5]
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Quoted:

Why would you pick the single shot over Silencer Shops gun trust? Isn't the gun trust a lot more flexible?
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The "single shot" IS a gun trust, but designed for only one firearm and named after the serial # of the firearm.

For example: If you have three silencers each one has its own separate and distinct trust.

AAC Pilot #01234- You, your spouse, your brother in law and your next door neighbor are listed as members of that trust.
SiCo Omega #45678- You, your spouse, and your BIL.
Dead Air Mask #9876- Only you and your spouse are listed on that trust.

If you decide to sell the Dead Air Mask to a co worker, you amend the trust to name him as a member. Then he removes you and your wife, no tax stamp required as the trust continues to remain the legal possessor.

VS.

Traditional NFA trust where all your NFA firearms are possessed by a single trust.
Link Posted: 2/3/2018 9:41:12 PM EDT
[#6]
I still think you are better off amending the trust so buyer can take it but them file for a new stamp to avoid any chance at tax fraud. but to me 200 bucks is not worth the worry of having to defend my actions.

Discussion ForumsJump to Quoted PostQuote History
Quoted:

The "single shot" IS a gun trust, but designed for only one firearm and named after the serial # of the firearm.

For example: If you have three silencers each one has its own separate and distinct trust.

AAC Pilot #01234- You, your spouse, your brother in law and your next door neighbor are listed as members of that trust.
SiCo Omega #45678- You, your spouse, and your BIL.
Dead Air Mask #9876- Only you and your spouse are listed on that trust.

If you decide to sell the Dead Air Mask to a co worker, you amend the trust to name him as a member. Then he removes you and your wife, no tax stamp required as the trust continues to remain the legal possessor.

VS.

Traditional NFA trust where all your NFA firearms are possessed by a single trust.
View Quote
Link Posted: 2/3/2018 11:23:42 PM EDT
[#7]
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Quoted:
I still think you are better off amending the trust so buyer can take it but them file for a new stamp to avoid any chance at tax fraud. but to me 200 bucks is not worth the worry of having to defend my actions.
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What "tax fraud"?
The trust is the legal possessor and remains the legal possessor no matter who the members are.

And it's more than a little illogical to transfer an NFA firearm from the "Dead Air Mask #9876 Trust" to the "Dead Air Mask #9876 Trust"..........ATF would be and return your check with a post it note asking "are you an idiot?" BECAUSE THERE'S  NO TRANSFER.
Link Posted: 2/4/2018 4:55:20 AM EDT
[#8]
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Quoted:

What "tax fraud"?
The trust is the legal possessor and remains the legal possessor no matter who the members are.

And it's more than a little illogical to transfer an NFA firearm from the "Dead Air Mask #9876 Trust" to the "Dead Air Mask #9876 Trust"..........ATF would be and return your check with a post it note asking "are you an idiot?" BECAUSE THERE'S  NO TRANSFER.
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Maybe it's just me but I think technically okay or no this kind of thing is something that's just begging to come back and really put a hurt on everybody.
Link Posted: 2/4/2018 4:41:34 PM EDT
[#9]
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Quoted:
Maybe it's just me but I think technically okay or no this kind of thing is something that's just begging to come back and really put a hurt on everybody.
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Quoted:
Quoted:

What "tax fraud"?
The trust is the legal possessor and remains the legal possessor no matter who the members are.

And it's more than a little illogical to transfer an NFA firearm from the "Dead Air Mask #9876 Trust" to the "Dead Air Mask #9876 Trust"..........ATF would be and return your check with a post it note asking "are you an idiot?" BECAUSE THERE'S  NO TRANSFER.
Maybe it's just me but I think technically okay or no this kind of thing is something that's just begging to come back and really put a hurt on everybody.
Nonsense.
ATF doesn't have the authority to tell states how trusts, corporations or other legal entities work.
ATF has even said 'we don't regulate trusts".
Link Posted: 2/6/2018 2:09:29 AM EDT
[#10]
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Quoted:

Nonsense.
ATF doesn't have the authority to tell states how trusts, corporations or other legal entities work.
ATF has even said 'we don't regulate trusts".
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All it takes is for it to come to the attention of the wrong people or for some incident to occur with an item sold in such a way and you can bet someone will be given the authority or rules will be changed wholesale and it's NOT going to be to our benefit.

It is pretty easy to see how it could be seen as circumnavigating the rules as is. I don't care, I'm obviously pro NFA items and pro trusts, but plenty of other people will. Luckily this is probably one instance where the general public and anti gunners lack of knowledge actually helps us.
Link Posted: 2/6/2018 2:00:31 PM EDT
[#11]
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Quoted:
All it takes is for it to come to the attention of the wrong people or for some incident to occur with an item sold in such a way and you can bet someone will be given the authority or rules will be changed wholesale and it's NOT going to be to our benefit.
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Quoted:

Nonsense.
ATF doesn't have the authority to tell states how trusts, corporations or other legal entities work.
ATF has even said 'we don't regulate trusts".
All it takes is for it to come to the attention of the wrong people or for some incident to occur with an item sold in such a way and you can bet someone will be given the authority or rules will be changed wholesale and it's NOT going to be to our benefit.
And the Dems could sweep the midterm elections and oust Trump in three years.
And a meteor could strike Texas.
And an earthquake could cause the west coast to fall into the Pacific.
And the City of Plano could raise the speed limit in front of my house from 30 to 70.

As the rules stand NOW it perfectly legal and that's all that counts.

It is pretty easy to see how it could be seen as circumnavigating the rules as is. I don't care, I'm obviously pro NFA items and pro trusts, but plenty of other people will. Luckily this is probably one instance where the general public and anti gunners lack of knowledge actually helps us.  
FFS. It's not "circumnavigating the rules".
You sound like all the guys ten years ago that warned "don't use a trust BECAUSE OMG no CLEO signoff!!" That wasn't circumnavigating the rules either.
It's abiding by them.
Link Posted: 2/7/2018 11:00:58 AM EDT
[#12]
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As the rules stand NOW it perfectly legal and that's all that counts.
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Yep.
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