Background

With the Generation 7 Minor’s Trust Program, we believe that our personal approach in partnering with the tribes we serve is that we can offer a customized educational approach to the principles of investments, budgeting and the importance of investing in the future.

Money in the Minor’s Trust is invested and held for your child until your child turns 18 years old. At this age your child may then begin receiving payments in accordance to the specific tribal structure from the trust. At 18 years of age they will have the option to participate in the adult tax deferment program, continuing to invest their future.

All Minor’s Trusts are typically invested according to the age of the minor. Normally, younger children will have investments that grow and pay interest differently than the investments developed for older or adult children

Deferred Income Taxes

The minor’s trust account does not have to pay income taxes, and your child does not have to pay income taxes unless a payment is received from the trust. Smaller amounts disbursed on behalf of the minor are often below the threshold of requiring a payment of income taxes.

Special Circumstances Payments

Certain other payments may be taken from the trust and paid to others. These payments must be under the direction of the tribal government and can include debts to the government, criminal restitution, family support, or to cover catastrophic health loss suffered by a tribal member.

We have also developed a Special Situation Payment Program. This Program allows for those special needs of your minor in the nature of specific situations; be it Education, Health or Clothing allowances. These special needs will require proof that the disbursed funds were actually used for the special needs specified.

Other Circumstances

Should the minor die while he or she still holds a Minor’s Trust account, the account will first pay the expenses of the last illness, funeral and burial, up to the amount not paid by other sources. The remaining balance will then be paid to any living descendants of the minor, or to a living spouse. If there is no living spouse or descendants, then the account is paid either to the living parents or siblings of the child.

We will hold and invest funds for those minors that are determined by appropriate legal and medical experts to be incompetent either on a temporary or permanent basis.

If the minor is incarcerated then we will invest their funds according to the time horizon required.