User Panel
User Panel
User Panel
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Posted: 2/15/2017 3:14:10 PM EDT
[#1]
No one ever sees my Schedule A or Assignment (except my lawyer). There is no requirement to submit and "real" Schedule/Assignment with each application; all of my submissions have included a blank Schedule/Assignment.
I update my real Schedule/Assignment via my lawyer in batches (several items at a time) when it's convenient; it gets notarized at that time. |
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Posted: 2/15/2017 3:17:37 PM EDT
[#2]
I use a trust but the assignment of property page on mine is not signed nor notarized. It actually uses a miscellaneous property page for the ATFs purposes that simply shows $10. I also have never sent in the assignment of property page with any of my Form 1's.
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Posted: 2/15/2017 3:20:43 PM EDT
[#3]
Your assignment sheet is likely NOT part of your trust so you do not ever send it or need to show it to anyone. It's only for your internal records for helping Trustees/Beneficiary manage the trust.
Print a new blank sheet and add the item and have it notarized. Multiple items can be added at one time but do not add anything after the notary has stamped it. Create a new sheet next time. |
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Posted: 2/15/2017 4:04:31 PM EDT
[#4]
The way my Assignment of Property form works is that it's used to assign non-NFA items. The ATF assigns NFA items to the trust via a Form 1 or Form 4. In my experience, this is the whole point of the Assignment of Property form, and why I prefer trusts worded to use one rather than a Schedule A.
The Schedule A doesn't have the magical power to validate or invalidate a Form 1, 4, etc. making or transfer. The two are unrelated and should be - hence the Assignment of Property. Your trust may vary. |
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Posted: 2/16/2017 11:01:48 PM EDT
[#5]
Does an assignment sheet even have to be submitted at all for a form 4 application? Or can you just submit a blank one?
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Posted: 2/17/2017 3:11:15 AM EDT
[#6]
Quote HistoryQuoted:
Does an assignment sheet even have to be submitted at all for a form 4 application? Or can you just submit a blank one? It depends on how the trust is written. Generally speaking though, no. I've never done anything with mine. |
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Posted: 2/17/2017 5:01:31 PM EDT
[#7]
I submit my Schedule of Assets with my applications. Both my trusts are only for NFA items. ATF knows what I have, I really don't care if they know.
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Posted: 2/21/2017 3:20:48 AM EDT
[#8]
My trust which was drawn up by an NFA lawyer (dunno if he's a sponsor) but anyways I have an assignment form. Not a schedule. Pretty much a form that says you are putting xxxxxx into the trust.
Hasn't failed me yet for 2 sbrs. |
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Posted: 2/21/2017 3:32:05 AM EDT
[#9]
Quote HistoryQuoted:
The way my Assignment of Property form works is that it's used to assign non-NFA items. The ATF assigns NFA items to the trust via a Form 1 or Form 4. In my experience, this is the whole point of the Assignment of Property form, and why I prefer trusts worded to use one rather than a Schedule A. The Schedule A doesn't have the magical power to validate or invalidate a Form 1, 4, etc. making or transfer. The two are unrelated and should be - hence the Assignment of Property. Your trust may vary. Yep, the assignment of property is for anything in your trust that lacks paperwork that shows it is owned by the trust. Title or a govt. form that shows the trust as owner is all you need to prove ownership. However, the Schedules, A if sole, A,B and C if joint are there to manage the disposition of property in the trust when the grantor dies. ATF wanted to see both if referenced by the Trust because they considered it to be part of the trust and they wanted to see the entire trust. |
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