Well I think I dorked up my Trust (well...schedule A)

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[ARCHIVED THREAD] - Well I think I dorked up my Trust (well...schedule A)

Posted: 1/4/2012 5:53:44 AM EDT

Sent in my two Form 4's and copies of all of my Trust paperwork. My dealer insisted that the items being transferred needed to be added to the Assignment of Property (yeah I got that one) and the Schedule A (this is where I think the mistake lies). I had a Title I firearm on the Schedule A just to have something on there before, but removed it when I added the two suppressors. Will I have issues with getting my paperwork processed? The cans are obviously property of the trust since they were purchased already....they are just in the dealers posession until the stamps come back. Any advice would be helpful. I can revise my Schedule A and Assignment of Property, adding the Title I rifle back on there and send it in...but I don't want to create any confusion if it'll fly as-is. Thoughts?

CMS

Posted: 1/4/2012 6:38:13 PM EDT

[#1]

Am I the only one that made this mistake then?

CMS

Posted: 1/4/2012 6:43:20 PM EDT

[#2]

It is unlikely the ATF will catch it. Worst case, you have to resubmit.

Posted: 1/4/2012 6:56:37 PM EDT

[#3]

I'm no lawyer, but I don't understand how it's a problem. Can't you add and remove items from the trust at will?

Posted: 1/4/2012 7:25:17 PM EDT

[#4]

Basically he listed items on his Sch A that he does not yet own (technically he can't own them until until the transfers are approved)

Posted: 1/4/2012 7:28:15 PM EDT

[#5]

I know it don't work this way...but why doesn't the ATF consider me as "owning" them. No I cannot take legally take posession yet but they were paid for already so they are technically mine right?

Either way...I'm just not sure if I should send in the ammended Schedule A now. I just sent the Form 4's in on 27 DEC. They can't be that far along yet.

CMS

Posted: 1/4/2012 7:30:49 PM EDT

[#6]

Ok, I see. I misunderstood. I thought he was worried about taking the other firearms off the Schedule A.

Posted: 1/4/2012 7:46:38 PM EDT

[#7]

Quoted:
Ok, I see. I misunderstood. I thought he was worried about taking the other firearms off the Schedule A.

In a way I am because the suppressors aren't viewed as mine by the ATF so technically there's no property in the trust. Guess ill see how picky they are. Would they make me resubmit or just ask for the new Schedule A.

Posted: 1/4/2012 7:47:00 PM EDT

[#8]

Quoted:

I know it don't work this way...but why doesn't the ATF consider me as "owning" them. No I cannot take legally take posession yet but they were paid for already so they are technically mine right?

Either way...I'm just not sure if I should send in the ammended Schedule A now. I just sent the Form 4's in on 27 DEC. They can't be that far along yet.

CMS

I thought i was reading a thread the other day where a guy said he never sends in is Schedule A. Just thhe declaration of Trust and trust. No asset list?

Posted: 1/4/2012 9:20:13 PM EDT

[#9]

Quoted:

Quoted:
I know it don't work this way...but why doesn't the ATF consider me as "owning" them. No I cannot take legally take posession yet but they were paid for already so they are technically mine right?

Either way...I'm just not sure if I should send in the ammended Schedule A now. I just sent the Form 4's in on 27 DEC. They can't be that far along yet.

CMS

I thought i was reading a thread the other day where a guy said he never sends in is Schedule A. Just thhe declaration of Trust and trust. No asset list?

The Declaration of Trust 'is the the trust' which would be accompanied by schedules referenced therewithin. The other trust related document is the Certification of Trust, which is a document that outlines some basic information about the trust and serves as an attestation of its existence. IN previous years, ATF accepted the Certification as sufficient evidence of the trust's existence- though that changed when the volume of trusts increased and concerns developed re. their validity. ATF has asked for schedules because information regarding assets held by the trust can be necessary to confirm the trusts existence. They have allowed the redaction of non-NFA trust property in the past, according to posters here.

Posted: 1/4/2012 9:33:03 PM EDT

[#10]

I submitted copies of everything...the declaration of trust, certification of trust, and all~3 shcedules. My concern only lies in the fact that since this is my first NFA transfer on the trust, there are no other items on the schedule except for the two items I'm purchasing. We shall see.

Posted: 1/5/2012 12:46:06 PM EDT

[#11]

I have a similar question about this. I still have to have my Trust drawn up, but i already paid for the suppressor. I do not own any other NFA items as this will be my first. so what would i put in the "Schedule A" ? The suppressor i paid for but do not posess?

Posted: 1/5/2012 1:09:08 PM EDT

[#12]

Quoted:
I have a similar question about this. I still have to have my Trust drawn up, but i already paid for the suppressor. I do not own any other NFA items as this will be my first. so what would i put in the "Schedule A" ? The suppressor i paid for but do not posess?

You can add any Title 1 firearm to the Schedule A...Ruger 10/22...whatever...just to have something in the trust (at least that's how I'm reading it)...

Posted: 1/5/2012 1:26:50 PM EDT

[#13]

Quoted:

Quoted:
I have a similar question about this. I still have to have my Trust drawn up, but i already paid for the suppressor. I do not own any other NFA items as this will be my first. so what would i put in the "Schedule A" ? The suppressor i paid for but do not posess?

You can add any Title 1 firearm to the Schedule A...Ruger 10/22...whatever...just to have something in the trust (at least that's how I'm reading it)...

so would it be smart to add my one AR reciever to it so down the road if i decide to SBR it, then it will already be on there or will it not make a difference?

Posted: 1/5/2012 1:31:35 PM EDT

[#14]

My Schedule A started with $100 cash.

Posted: 1/5/2012 1:49:01 PM EDT

[#15]

FWIW, my trust was prepared by an attorney, and include instructions on how to submit F4's and F1's. The attorney was affiliated with guntrustlawyer.com, and the package had Goldman's copyright on the bottom of each page.

Following those instructions, each time I've submitted a F4, I included nothing entitled Schedule A, but did include an Assignment of Property sheet which was part of the trust pkg. And, again following those instructions, I put the item I was submitting for transfer on that assignment of property page (and nothing else). I understand that the trust does not own the item until the transfer completes, but I followed instructions.

That said- I've had several F4's approved doing it this way.

Posted: 1/5/2012 5:32:41 PM EDT

[#16]

Quoted:
FWIW, my trust was prepared by an attorney, and include instructions on how to submit F4's and F1's. The attorney was affiliated with guntrustlawyer.com, and the package had Goldman's copyright on the bottom of each page.

Following those instructions, each time I've submitted a F4, I included nothing entitled Schedule A, but did include an Assignment of Property sheet which was part of the trust pkg. And, again following those instructions, I put the item I was submitting for transfer on that assignment of property page (and nothing else). I understand that the trust does not own the item until the transfer completes, but I followed instructions.

That said- I've had several F4's approved doing it this way.

So essentially you are sending atf a document that says the items listed below are going into the trust" so that they aren't receiving a list of what you have in the trust every time?
I like it.

[ARCHIVED THREAD] - Well I think I dorked up my Trust (well...schedule A)

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