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Thread: NFA Trust Legal in PA?
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January 25th, 2010, 01:55 PM #1PANRA Guest
NFA Trust Legal in PA?
I was reading an article about setting up a Trust to purchase NFA firearms. No fingerprints, pictures, and very little background investigation required since the weapons are owned by the Trust and not an individual. The only thing is this was about the law in Texas. So can a PA resident set up a Trust in PA for the purpose of buying firearms?
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January 25th, 2010, 02:32 PM #2Member
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Re: NFA Trust Legal in PA?
Yes you can set up a trust just for NFA items. I have one it saves me a lot of time.
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January 25th, 2010, 02:39 PM #3Member
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bellefonte,
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January 25th, 2010, 02:54 PM #4
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January 25th, 2010, 02:57 PM #5Member
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January 26th, 2010, 08:43 AM #6PANRA Guest
Re: NFA Trust Legal in PA?
Here is a link to the article.
http://forums.officer.com/forums/sho...ight=NFA+Trust
Trust Process
If you have a trust, the trust can be approved to own an NFA firearm. You would simply be the trustee, authorized to possess the items. The trust route is slightly different than the Individual route. For starters, no need for the fingerprints, as a paper entity does not have any. Ditto with the passport photos. When you send in your paperwork, you will need to include a copy (COPY, not original) of the Declaration of Trust. With very little background checking to do (none?), the paperwork is usually approved quicker than individual transfers.
Now, how do you GET a trust? I'm glad you asked...
First off, a trust is an entity, not a corporation. There is no ongoing paperwork that must be filed to maintain a trust. There is no filing fee for a trust. There are no obligations whatsoever once the trust is formed. It exists, and that's enough. It has legal implications over the assets of the trust, as ownership is no longer in YOUR name, but in the trust.
Now that we know a little about what a trust is, here's what you'll need to do if you want to form one. While an attorney can draft up a perfectly suited trust, that may be unnecessary if all you are wanting is a legal method for transferring NFA firearms into your possession. If you wanted something MORE out of a trust, you should consult an attorney.
If you have determined you do not need professional legal advice, you WILL need some help. Socrates and Quicken both make software packages suited to estate planning, and include templates for wills and trusts.
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January 28th, 2010, 08:58 AM #7
Re: NFA Trust Legal in PA?
It is worth noting that GunLawyer001 feels that this is also the major weakness of a trust.
The reader's digest version of his opinion seems to be that at least with a corporation you have the backing of the Commonwealth of Pennsylvania if the BATFE decides to challenge the legal basis of your corporation. With a trust, it's the BATFE against you if they challenge the supporting paperwork of your trust.
Not everyone agrees with this analysis, but you should be aware that a difference of opinion does exist on the issue. On the face of it, it does seem to make sense that the BATFE will have a much easier time breaking a trust, than a corporation if they want to question why you have NFA firearms in your possession.Vortex
"The United States is a nation of laws, . . . . badly written and randomly enforced." - generally attributed to Frank Zappa
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January 28th, 2010, 10:22 AM #8
Re: NFA Trust Legal in PA?
I've got an NFA specific trust. It wasnt created for the purpose of buying firearms necesarrily, but rather to hold them for my children until that point when I am dead and gone to allow an easy transfer to them. Ill admit that the idea of not having to get 'approval' from my local sheriff, fingerprints, and all that unconstitutional stuff like they are allowed to do to us is a bonus in using a trust. If you're thinking of creating a trust yourself, I'd recommend customizing it somewhat as to what the trust will hold and to permit use of any objects the trust holds, or find a lawyer to draft one if it makes you more comfortable.
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