Trust question-Schedule A, assignment of property forms and inventory form

[Jdmarshall]

I’ve had some time to refine my queries and they primarily revolve around property assignment and management.

-Does this Schedule “A” need to be updated when subsequent Items are added to the trust or can it remain with just the original $10 funding? This document needs to be signed by all trustees and is part of the .PDF trust so updating will be a burden each time.
-Do I need to complete and maintain a copy of an Assignment of Property document each time I add an item to the Inventory Form?
-What is the difference between the Assignment of Property form, Inventory Form and Schedule A? I’m not real clear how to use and maintain the Assignment of Property section.

 

[jiannichan]

From what I have read, the Schedule A does not need to be constantly updated with new items. It can just hold the original "funded" things. I believe you use the assignment of property and an inventory form for everything you have under that trust. I sent an email to the guy who did my trust to ask him and verify what I just told you.

 

[locke_n_load]

From what I have read, the Schedule A does not need to be constantly updated with new items. It can just hold the original "funded" things. I believe you use the assignment of property and an inventory form for everything you have under that trust. I sent an email to the guy who did my trust to ask him and verify what I just told you.

I believe that you can just update the inventory form, but some guys at a class 3 dealer said that I needed to update my schedule A, so I just update that (ATF knows what I have anyways). I have it scanned in digitally, so I just overwrite the date with the current one, add said item, and all the signatures are still there.

 

[Vernix]

I just, an hour ago, filed my first eform for another SBR.

Since I knew I'd have to attach my trust documents I updated the Schedule A.

I still wonder if it's a requirement, a recommendation or simply a prudent thing to do.

V