I'm curious to know the difference between an express trust/private trust and PMA. I would like to look into trust for personal (legacy) reasons and PMA or trust for business purposes.
nostr:note1lvp0tu79t08zc6ugvdzdc004kflccql9xyq5fkm87dhwanveatlqwrxuq0
Hey nostr:npub1cwhy4k8qd2guyqz8t45u4yzyp4k4fhnjn573ukh6e77mde2dgm9s2lujc5
Thanks for the question!
Think of the “Private express trust” (PET) as the vehicle or framework…
An unincorporated business entity (UBO) and (PMA) private member association are like seats in the car.
They are not mutually exclusive and can in fact be mutually inclusive!
A private express trust can be written in a way which it includes UBO and PMA aspects.
The thing to remember is the three tiers of “law”.
1. Equitable
2. Common
3. Contract
By their nature PETs are equitable and common, in that they are treated as living entities.
As such they are based upon “intent” and the grantor and exchanger get to write the rules / laws of the trust. Thus, they can be written in a way that they are able to contract with others. This is the UBO/PMA aspect
I've been observing the concept of PMAs and similar things for the last 3-4 years now and I never jumped the gun because I feel like having one puts me from this little unknown entity (where I am now, quietly selling things to people who want them) right smack into the radar of govt purview, and while I still might *get* that they're private and supposed to shelter all that I do, business-wise, the fact that I would have one freaks me out for that reason. But I'm attracted to the idea and would like nothing more than to tell people I make and sell XYZ, but you have to know the password lol.
(I've been making & selling jerky and other prepared foods to people online & IRL, and yes, I *could* get a cottage license, but I'd prefer none of that).
