Schedule of Assets

Schedule of Assets are located at the end of the Trust.  There is one asset schedule for a single person trust.  There are three assets schedules in each married trust: one asset schedule each for any separate property for each spouse and one schedule for all jointly-owned assets.

Listing an asset on a Schedule of Assets does NOT fund that asset into the trust.  In order for an asset to be legally owned by the trust, the trust must be formally identified as the owner of record with the institution that controls or holds title to the asset.

So what is the purpose of the Schedule of Assets?  The Schedule of Assets, when kept current, is a great recap for your successor trustee.  It is a starting point identifying the assets they need to confirm exist.  The Schedule of Assets are intended to be updated no less than annually.  With our system, your most recent Schedule of Assets are always available online.  They do not require a signature page. 

Schedule of Assets can be modified as often as needed without making a formal amendment to the trust document.  The information needed to created detailed Schedule of Assets is entered under an entirely separate tab entitled “ASSETS” in your client’s online portal.  You are encouraged to log in and make changes to the asset listing whenever you buy or sell an asset.