TAG, I've been wondering this too. Also change of address of the trust aka move- do I need to resubmit for new stamps? I think not but not sure of which legal wickett to jump through

For what it's worth, I would disagree. It could be argued that you're effectively backdating ownership of the listed items to a time where you didn't actually own them and maybe legally couldn't.

I don't date my schedules at all. If it's simply a list of assets, it doesn't do anything, it's just a place to neatly list the assets held by the trust. It's the actual transfer documents (approved ATF forms, real estate transfer deeds, etc.) that convey those items to the trust.

What I do date is an assignment of property that I complete when each transfer is approved, with the date it was approved, or in the case of my SBR, I assigned it to the trust prior to the transfer since I personally possessed it and the transfer was legal since it hadn't technically been "manufactured" into an SBR.

In the future, absolutely, positively do not ask or rely on ATF for advice like this on how to manage your trust. It's not their department and they have no reliable knowledge about trust management. It's like asking the DMV about your homeowners policy.

Legally speaking, the Schedule A is used to list property in the Trust at the time of execution only. All items on the schedule A ride the notary date as evidence of trust property. Assignment of Property forms are used to add items later.

what about notarizing the assignment? or just a witness?

That's just not what a Schedule A is for. Consult an attorney if you need further explanation. You fund the trust on the schedule A, funding can be as simple as $1 or the entire contents of your home. But either way, you do not add to the schedule since it is a supportive document to the notarized execution, meaning that's what the trust was born with.

A paradox is potentially created when you follow NFA Branch's request, if they request it: You add it to the Schedule A, implying it was already in the Trust before you actually submitted the application. Separately, adding the item to the Trust before approval creates another potential issue which occurs if NFA Branch denies the application for any reason. In either scenario, the Trustee will not be able to reconcile the assets due to the inaccurate documentation.

ETA: The Form 1 or Form 4 does not confirm that the specific firearm is currently trust property. It's merely a receipt that the Trust made or transferred in a firearm on that date. It would also confirm the legality of the firearm. But you'd still need to account for it from the Trust side.

Schedule "A" is not notorized.....only signed. at least my Texas trust is set up that way. schedule A changes as items are added....???????

well if so, where should you note changes to the property held by the trust? Nolo / Quicken reference the schedules: Nolo Link

Adding or Deleting Property
If you acquire valuable items of property after you create your living trust, you should promptly add them to the trust. You might also want to remove some items.

There are four steps to take:

Step 1: Use Nolo's Online Legal Forms to create a revised Property Schedule A, B or C of your trust document, adding new items or deleting old ones. If you made an individual trust, you have only one schedule, Schedule A. If you made a shared trust, Schedule A lists your co-owned property, and Schedules B and C list separate property.

Step 2: Print out the new schedule, sign it and replace the old one on your signed original trust document.

Step 3: If you added property, transfer ownership of the property to yourself as trustee. You'll need to change the property's title document or, if the item doesn't have a title document, use the Assignment of Property form, showing that you are holding the item in trust. (See Transferring Property to the Trust.) If you removed an item, transfer it out of the trust, either by changing its title document (a deed, for example) or using an Assignment of Property that transfers it from you as trustee to you as individual.

Step 4: If you need to name a beneficiary for property you've added, create an amended trust document (as discussed below). You won't need to amend your trust document if you left all your trust property to one person or if you want the new property to go to the residuary beneficiary.

EXAMPLE: Rose and her husband Michael created a trust several years ago. Now they're buying a house and take title as "Rose Morris and Michael Morris, Trustees of the Rose Morris and Michael Morris Revocable Living Trust dated January 13, 20xx." They then prepare a revised Schedule A (which lists co-owned property) of their trust document, print it out, sign it and replace the old Schedule A.

Because their trust document leaves all their property to each other, they do not need to amend their trust document

The Nolo/Quicken notes make sense to me. I've not added property to a trust using their software but it seems like new items should be added to Schedule A (number them to be consistent with the software's format) followed by new Grantor and Trustee signature lines and dates. Schedule A becomes a log-like record containing a list of property in the trust and the dates the items were added.

An "Assignment of Property" document is only used when the change of ownership of the property cannot be documented using some other legal document (title, deed, etc.) I'm not a lawyer but, based on the Nolo/Quicken information, I'd say items should be added to the Schedule A, with new (additional) signatures and dates added to document to reflect the dates on which property is added to the trust. An "Assignment of Property" form should also be completed to document the transfer of ownership of "NFA-type" items. Other actions may fly too, but I'm comfortable with actions that are consistent with both the Nolo/Quicken instructions AND what the BATFE says!

-Cal

hmmmmm.....ok, thanks for the clarification!

Can be setup different ways.

http://www.guntrustlawyer.com/2011/06/schedule-a-or-assignment-sheet.html

how does the "Inventory of Trust Assets " become part of or owned by the trust if the Inventory is not referred to in the trust itself?

Where did you get this? I have never heard this. I have sent in dozens of Form 4's and not included info on other NFA items owned by the trust....not one kick back.

When I remove a item from my Assignment of property sheet, That Item is automatically removed from our Schedule A. Our Schedule A has no place for signatures or dates.



On the Assignment of property sheet
I have the problem with the dates, the top date was when the Trust was formed. Is the bottom date when changes of items occurred.