Schedule "A" vs. Assignment Forms

Benefits of a Schedule "A"

  • More organized
  • Less ambiguous

Benefits of Assignment Forms

  • More private
  • Less re-drafted paperwork

As you can see there are benefits to both systems, but we have opted to use assignment forms as they are the more private method of asset tracking.

The main issue with using a Schedule "A" as a list of all assets owned by the trust is that it then must be submitted along with the trust whenever the settlor applies for a new NFA tax stamp. This creates a problem as other items such as non-NFA firearms may be owned by the trust at the time which would normally not have to be disclosed to the ATF.

If you would like to use a Schedule "A" instead of assignment forms, that option is available free of charge upon request. Simply contact us.

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