Suppressors Trust, Trustees, & Schedule A

[Charger442]

For the guys who use trusts... when you enter something into the Schedule A for the Trust to own, are you the only one to sign your addendum when you add it? or do you have all the trustees sign?

I have three tustees, including myself, and i was told that all three of us have to sign for every item entered into the trust. Does anyone else do this? or know of the legal ramifications of it? seems to me like a huge pain in the ass, especially when some people have multi-state trusts and distance between the trustees. just curious.

 

[THE MGD]

Re: Trust, Trustees, & Schedule A

I was told by my lawyer that your trutees are never obligated to sign anything. Just the grantor. May also be the way the trust is written.

 

[Charger442]

Re: Trust, Trustees, & Schedule A

My lawyer said that he advised getting everyone to sign off on each item. But that he wasn't sure if that was the letter of the law without going to the rule book and looking it up.

 

[JimHanks]

Re: Trust, Trustees, & Schedule A

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Charger442</div><div class="ubbcode-body">My lawyer said that he advised getting everyone to sign off on each item. But that he wasn't sure if that was the letter of the law without going to the rule book and looking it up. </div></div>
+1
Same info I got.

 

[TexasGunTrustLawyer]

Re: Trust, Trustees, & Schedule A

No need to have everyone sign the schedule a after the initial signing.

The revised schedule a listing the recent items does not need to be sent to the ATF.

I have clients add new items to an inventory which is not signed.

 

[eSKay]

Re: Trust, Trustees, & Schedule A

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: TexasGunTrustLawer</div><div class="ubbcode-body">No need to have everyone sign the schedule a after the initial signing.</div></div>
Same info I got from the lawyer who drafted my trust. The attachment with the items can be changed at any time without changing anything on the trust, including the signatures. Just make sure to keep the current schedule A with the original trust. Mine came highly recommended specifically to do Gun Trusts in Louisana so I definitely trust his assessment.

 

[TestnDoc]

Re: Trust, Trustees, & Schedule A

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: TexasGunTrustLawer</div><div class="ubbcode-body">No need to have everyone sign the schedule a after the initial signing.

The revised schedule a listing the recent items does not need to be sent to the ATF.

I have clients add new items to an inventory which is not signed. </div></div>
Does the schedule A need to be sent to the ATF everytime when applying for a stamp or just the trust itself? Thanks

 

[vinsonr]

Re: Trust, Trustees, & Schedule A

They do want to see a Schedule A, but they don't really care what's on it.

Any trustee can enter property into the trust *if* they were given that power by the trust. Trust laws vary by state so any one answer is not necessarily true in another state.

 

[Charger442]

Re: Trust, Trustees, & Schedule A

Mine is worded such that any trustee can transfer property into the trust. I'm just going to do seperate addendums to Schedule A for the addition of each item