Types of Tribal Trusts
Individualized Trust Accounts
General Benefit Trust Accounts

 

INDIVIDUALIZED TRUST ACCOUNTS

With Individualized Trust Accounts, the tribal government sets up a separate trust share for the individual community member. This means the account is managed and invested specifically for the benefit of that member, and monies from the account are closely monitored to individual family and member development. All contributions and distributions are to and from that individual community member’s account.  Examples of Individualized Trust Accounts are:

–Direct Per Capita Trust Accounts – money directly from gaming on community lands, held for the benefit of community children and incapacitated adults
–Indirect Per Capita Trust Accounts — money from the sale of a tribe’s gaming rights to other tribes, also held for the benefit of community children and incapacitated adults
–Inheritance Trust Accounts – money or lands passed from deceased members to benefit existing community members through development or income maximization
–Restitution Trust Accounts – monies to be collected and monitored from tribal court orders of restitution in criminal and other cases
–Individual Indian Money (IIM) Accounts – though currently under mandatory federal government trusteeship, monies held from land benefits of individual members, for which advisory services or distribution agent services may enhance pre-distribution benefits of community children
–Water Lands Trust Accounts – monies from the distribution of profits of land use, held for the benefit of divers community members, children and/or incapacitated adults
–Non-Qualified Benefit Plans, such as a Governing Council Benefit Plans, which is a retirement or compensation plan for the benefit of members of the governing council, or an Elders Benefit Plan, which provides individual social benefits for elderly members -- both plans would use the "rabbi trust" model

What are General Benefit Trust Accounts?

Narrow-neck Basket, 12 x 11, traditional design

-- client donation, Providence First Trust Company Private Collection

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