Pennsylvania Firearm Owners Association
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  1. #1
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    Default Can someone tell me what a trust is?

    Title says it all. As per usual, I did a search on the net only to have a page long statement go on and on and not answer my question. I keep seeing this and would like to know what it is.

    thank you

  2. #2
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    Default Re: Can someone tell me what a trust is?

    A trust is type of entity that would hold your NFA item.

    Another option instead of a trust is to set up an LLC for the item.


    Gunlawyer explains it pretty well in his post:

    http://forum.pafoa.org/general-2/3041-trust.html



    ETA: also here http://forum.pafoa.org/general-2/71183-gun-trust.html
    Last edited by NikeBauer21; May 11th, 2010 at 04:01 PM.
    III%

  3. #3
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    Default Re: Can someone tell me what a trust is?

    You must spread some Reputation around before giving it to NikeBauer21 again.
    Cut.
    Print.

  4. #4
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    Default Re: Can someone tell me what a trust is?

    Thanks, I read what Gunlawyer had to say, and he explains it well.....its just..well,... what the hell is the point of doing this? Are you expemt from the $200 tax or what?

  5. #5
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    Default Re: Can someone tell me what a trust is?

    From what I read it enables you to eliminate the CLEO signature, along with allowing your valuables to continue with the trust after you are gone.

    ETA: I forgot, I think you do not have to file fingerprints for the trusts purchases.
    Last edited by beefcakeb0; May 13th, 2010 at 02:15 AM.

  6. #6
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    Default Re: Can someone tell me what a trust is?

    Like beefcake said, I'm pretty certain the main reason for doing so is because it does not require a CLEO signature. Which in cases where a person's CLEO doesn't want to sign, it is a way around the situation.
    III%

  7. #7
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    Default Re: Can someone tell me what a trust is?

    Please, call me Bo

  8. #8
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    Default Re: Can someone tell me what a trust is?

    lol........
    III%

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