Minor Trust Accounts

Yes, you will receive quarterly statements showing account balance and earnings. If you are not receiving a statement please call our office and confirm the mailing address – we have been getting some back in the mail.

Trust funds will be distributed within 30 days following the LATER of:

1. Your child's 18th birthday
2. The date your child receives a high school diploma or GED

Individuals not meeting the high school diploma/GED requirement will receive their trust funds within 30 days of their 22nd birthday.

In most circumstances, no. The only exceptions are:

• The minor has a terminal illness, or
• The minor has a documented serious medical condition requiring long term care.

The trust is restricted because other basic health, education, and welfare needs of the child may be met through the parents electing to receive 50% of their child's per capita payment to provide for the child's needs.

The child's per capita funds may only be spent on the health, education, and welfare of the child. Also make sure you file taxes on the portion you receive as a parent. The minor will need to do their own taxes.

100% of the child's per capita funds will be placed in the minor’s trust.

Option B (Aggressive) is the default option; if you did not choose an investment option this is where the money is invested. You can change the investment option once a year in February. A reminder will be sent with a statement showing the difference in the options. Information on the options is available from the Enrollment Office.

Yes, and this is not permanent. You can change this before each per capita, but it must be done 10 business days prior to the distribution. You can have any amount over 50% put into trust. This can help if you have to pay in on your child's taxes: instead of giving more to the IRS you can give more to your child. Only the legal guardian can change the amounts.

1. Forms are available that the tribal member must sign and have notarized. The forms need to be returned to the enrollment office. After you turn the form it will take about a week to two weeks and you will get it in the mail.
2. Bring proof of GED or High School Diploma.
3. Bring a bank statement with your account and routing numbers.
4. Provide proof of a financial education class.

You may receive 25% of the trust account each year for four years. After the initial withdrawal, future withdrawals can be requested in the same month in subsequent years.

Yes, A member can go before the trust committee and request the full lump sum or portion. The committee will make a recommendation to the Board of Directors who have discretion to determine if the member should receive the full trust account at one time.

• All request must be done in writing with a full explanation of how the money is to be spent.
• bThe money can be requested if a young adult is purchasing a home and or land, cover school cost, medical bills/care, starting a business, or rolling to a private trust plan.

Follow these steps to complete the required financial education:

1. Register: https://evolve.financialeducatorscouncil.org/register
2. Login to begin lessons: https://evolve.financialeducatorscouncil.org/login/

The Course Content is highlighted, click expand on the right green arrow to scroll and find the Lesson Content. Complete the modules listed below. Read, watch videos, do interactive lessons, and take the lesson quiz at the bottom of the page. You will need to get 70% or higher on the quizzes. If needed, you are able to retake the quiz until you get the higher percentage.

Required Modules:

• Financial Psychology
• a) Turning Dreams into Goals & Plans
• b) How Financial Behaviors & Attitudes Form
• Savings, Expenses & Budgeting
• a) Prioritizing Expenses & Opportunity
• b) Budgeting Fundamentals & Overview
• c) Major Expenses: Automobile
• Account Management
• a) Education & Activities: Banking Essentials & Management
• Credit Profile
• a) Education & Activities: Understanding Your Credit Profile
• Economic & Government Influences
• a) Education & Activities: Income Tax
• Risk Management & Insurance
• a) Education & Activities: Types of Insurance & Which You Should Consider: Auto Insurance
• Investing & Personal Financial Planning
• a) Education & Activities: Investment Risk

Once all required modules are complete YOU MUST EMAIL OR CALL us so we can verify all lessons have been completed. There are NO automatic notifications sent that you completed the lessons.

In October 2020 the Board of Directors created a Youth Under the Age of 18 Tax Free Deferred Long Term Dependent Assistance program. These funds are not taxed at distribution.

Per Capita Payments exceeding $12,550 are taxed per IRS guidelines; the graduated scale is included in the distribution packet.

Funds are distributed to next of kin in order of priority: spouse, children, parents, siblings, grandparents.

Youth over 18 may complete a beneficiary form to direct distribution differently.