Difference between an assignment page vs. schedule A.
Got my trust done. I got an assignment page. So what's the difference between these 2 items?
I think I got it now. The assignment sheet is just another form of schedule A with the exception of declaring the firearm "to be" made instead of listing the firearms that "already" made in the trust. More privacy. Thanks.
this question can go on forever and it seems there is no single right answer.
From nolo willmaker, their online support said schedule A is to show inventory. Assignment is to prove ownership when title documents do not exist. Since Form 1 and 4s clearly show trust ownership, there is no need for them to be in the assignment page. Some folks say the schedule A is meaningless and no documentation is required. Nearly all the SOTs I have dealt with say the item needs to be on the schedule A or it will be kicked, so I put it on.
Every example of a non-firearms trust I see clearly has an inventory page labeled schedule A, B or C. A for single, B for spouse and C for joint owned property.
Anyway, I did not stay in a holiday inn last night and your mileage may vary.
Originally Posted By Quake_Guy:
Some folks say the schedule A is meaningless and no documentation is required. Nearly all the SOTs I have dealt with say the item needs to be on the schedule A or it will be kicked, so I put it on.
The schedule A is basically meaningless as far as the trust goes. But the BATFE have this strange idea that a trust must be funded or it's not valid. (Not true in my state, or most states that I'm aware of) They perceive any item on a schedule A as being the trust's funding. They will kick it back if there is nothing there, but it makes no difference what it is. I use a book. I've never put anything else on a schedule A, including NFA weapons or anything else in the trust. There is no need to list previous NFA weapons, as the BATFE already knows about them, and there's no need to list anything else because it's none of BATFE's business.
It may seem confusing, but it's not really.
Az
But the BATFE have this strange idea that a trust must be funded or it's not valid. (Not true in my state, or most states that I'm aware of)
Texas does require funding:
Search TEX PR. CODE ANN. § 112.005: "A trust cannot be created unless there is trust property."
If I send them the $200 check and it say "JOHN DOE TRUST" on the check. Shouldn't that be enough proof that my trust is funded? I don't think the bank would allow me to open an account with zero funding.
So the Items in the Schedule A. are the "funding" and count as trust property, correct? Just doing a little research.
Originally Posted By ju993rnaut:
So the Items in the Schedule A. are the "funding" and count as trust property, correct? Just doing a little research.
Generally, yes
