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HOW ARE TRIBAL TRUSTS SET UP AND ADMINISTERED?The first step in setting up a Tribal Trust once the funds are received, is to determine the beneficiaries of the trust and the terms of the trust agreement. For example, with Per Capita Trust Accounts, federal law requires that the trusts provide for the health, education and welfare of the beneficiaries. The beneficiaries are to be all minors (members under 18 years old) and all adults that are considered unable to take care of their financial affairs.In the case of a Per Capita Trust, a tribal government has a great deal of latitude with respect to what is defined as the health, education and welfare of the children or adults. How much is paid and how often, and exactly what it is for, are parameters the tribal government may work with in defining the instructions that the trustee is to follow. |
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Tight-weave Woven Rug, 23 x 33, traditional design --client donation, Providence First Trust Company Private Collection |
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