Children Trust Fund- Death of a child
When a child dies, the money they are entitled to for a Children Trust Fund account will go to whoever inherits their estate (along with any assets belonging to the child). This is the child's personal representative, usually the child's parents- but could be the husband or wife if the young person was married. The money would then belong to the parent or spouse and he or she will need to declare it as part of their assets.
*This seems more appropriate.
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I've always felt that once the money is placed in trust for the minor child, the money is theirs. In essence, it nO LONGER belongs to the Tribe or it's governing body, the Council. It was paid out, into a trust. The trust has a name and an account #. Should (god forbid) any death or incapacitation occur to the trust minor, His or Her trust should be relegated to the next of kin. This would be true in the event that if the minor deceased before the age eligible to retrieve the trust funds appointed. The amount placed into trust up to that point should still be released to the next of kin. )Sheeesh..lol i am saying all this without knowing the law.) However, i feel that what i am saying should still be true. If we do not have any mechanism concerning this issue in our tribal laws..i suggest we should remedy that betty soon...dontcha thinx??
ReplyDeletei would have to disagree with that one, makani! Its a sad day for the people when a meskwaki child loses their life and all we can think about is "Whats gonna happen to their money?"
ReplyDeleteDisturbing topic, but a topic nonetheless. It's weird that you pose the question about revoking a trust fund and the only rationale posed is the death of a child!?!
ReplyDeleteI don't think any tribal council should revoke a child's trust fund if they are in fact an enrolled Meskwaki tribal member.
hey denise..i am unclear as to what you disagree with..My response or the question itself? Noone i can tell is ONLY thinking of the money. This situation has occurred and will likely occur again. I am only saying that we should have something in place to remedy any situation (dispute) that may occur in the future. Sorry, but it is more important to seek answers to REAL events than err based on our own emotional leanings.
ReplyDeleteThese are issues that will happen and we need leaders that will deal with them. uriah is right. It's like i said. once paid out...the trust $ belongs to the child(minor). but i think that the way it is set up now...it reverts back to the tribe.
It's true we need to establish guidelines for such cases as these. Without them trust funds could be utilized for such things as paying for these so called Tribal Lawyers or such..trust funds have been established for individuals and yes if that individual should (heaven forbid) there life should end..those trust funds should be given to next of kin and not in the pockets of Lawyers or such. It's like putting money in savings for your child and then the bank taking it and using it for there own purpose..not right..Trust Funds need to be giving to the rightful next of kin
ReplyDeleteNo per cap so lets bump off the child and get their trust fund money. That is just one scenerio that could be played out if the money goes to the family when a child passes away. Too many parents on the settlement aren't doing right by their kids as it is and now you want to open the doors for them to get even more crazy ideas? No, I wouldn't approve of this. Maybe taking the money and putting it into some sort of fund to help with education scholarships for children on the settlement that don't have trust funds - that would make more sense.
ReplyDeleteGood intentions Angry. I wonder though, if what you say to do, "help with education scholarships for children that don't have trust funds" truly can occur with the rules in place. As of right now..ONLY tribal members can recieve benefits from the tribe. I respect your charitable intent but it will not pass muster with most people. In time i do believe that we might find a way to include those on the periphery of our membership. That would take true heart.
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