I am fixing to buy a can. Trying to get as much info as possible. My question is A) trust or no trust? Is there such a thing as single shot TRUST? Have daughters so I doubt I will be handing it down. Just want to shoot and have fun with it. Please advise.
The big advantage of an NFA trust (or NFA corporation, LLC, etc) is that you can appoint other people to use your NFA firearms. If you own a suppressor, SBR, etc. individually, you cannot allow anyone else to possess, use, or access it. This can cause problems for someone who is married and the spouse has "constructive access" to the firearm because she knows the safe combination or such.
I own my SBRs in an NFA trust. If/when I get any suppressors, they go in the trust. When I buy an M14 or an old WW1 BAR, it goes in the trust. Later on, I can let my brother-in-law, or a TFF/THF friend, use any of these firearms by appointing him as a trustee.
Main downside of a trust or corporate entity is that every active trustee or corporate officer must submit their "Responsible Person" materials with the Form 1 or Form 4 application. This only applies to any individuals who hold those roles at the time of application. Not a big deal if you set up a 'one shot' kiosk trust and you're the only trustee at the time, especially if you don't intend to add any more cans or other toys into the trust.