What Are the Schedules Attached to a Trust Used For?
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Answer:
We're assuming you purchased US-00556. The schedules are used to transfer property, either to the trust (Schedule A) or to beneficiaries apart from the trust on the death of the trustor (Schedule B). All property transferred to the trust formally or informally, together with the investments and reinvestments, constituting additions to the principal of the trust, and the income therefrom, is sometimes hereafter collectively designated the ATrust Estate. All property transferred to or deposited with the trustee shall be held by it in trust for the uses and purposes stated in the trust document. Schedule A is for transferring the assets to the trust. Schedule B is for transferring trust non-business tangible assets to others separately from the trust and make individual gifts to persons on the trustor’s death.