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How do you add an NFA item to your trust?

Discussion in 'NFA & Class III Discussion' started by ber, Jan 22, 2011.

  1. ber

    ber Sharpshooter

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    I'm waiting on my stamp for my SBR. I went the trust rought. My question is when I buy a cawhat paper work do I need to do to add the can to the trust I already have. Thanks-Ber
     
  2. jimmym40a2

    jimmym40a2 Sharpshooter

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    If you set up the trust your self. Quicken,etc. You add it in the schedule A i believe.
     
  3. 338Shooter

    338Shooter Sharpshooter

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    Quicken Willmaker is great to set up a trust, but blows at maintaining the trust. Every time you add property it wants you to amend and restate...not necessary. I exported mine to word.

    I update the Schedule A and throw the old one out. And copy the assignment of property sheet to a new page and fill it out for the new item. It should say in the trust that you can add property at any time. As long as you sign an assingment of property for the item and update the schedule A you're done.

    This is not legal advice and I am not a layer.
     
  4. ber

    ber Sharpshooter

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    Thanks guys
     
  5. djcorrell

    djcorrell Sharpshooter

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    update schedule A. attach new one....
    the assignment of property worksheet is only for the initial setup.

    my lawyer concurs.
     
  6. ber

    ber Sharpshooter

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    So to make sure I'm getting this. You keep the sbr on the schedule A add the can to that and then send it in with the form 4 for the can. Right?
     
  7. djcorrell

    djcorrell Sharpshooter

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    yes! you will have multiple items on the schedule A, if you have multiple NFA items. just make sure that the newest item is on the schedule A, and a copy of the trust, and the application "packet" are all in there when you mail it.
     
  8. 338Shooter

    338Shooter Sharpshooter

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    So no need for additional assignments of property when you add items to the trust?
     
  9. djcorrell

    djcorrell Sharpshooter

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    exactly. :)
     
  10. 338Shooter

    338Shooter Sharpshooter

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    Cool, makes the process even easier.
     

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