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ACCOUNT TYPES

Trust Account – retired

Trust accounts may be an ideal investing vehicle for established trusts to grow assets. They are flexible, taxable and there is no limit to the amount trustees can invest.

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This type of taxable account requires the establishment of a trust. The trust document is typically drafted by an attorney or professional tax advisor that specializes in creating trusts. Most trusts are uniquely based on the settlor’s needs with respect to estate and tax planning concerns or issues.

As time goes by, it may be necessary to periodically review the trust document to ensure it is current and includes all newly acquired assets or assets held outside of the trust.

You should consider a Trust Account if:

  • You already have an established trust and would like to hold your assets under the trust terms
  • You have a complex estate plan that cannot be accommodated by a standard account with beneficiary designations

Is a Trust Account right for you?

A trust account gives trustees the flexibility to make all the investment and other important decisions about when and how to use the proceeds of the account held in the name of the trust. The trustees are the decision makers – this includes the ability to pick any type of investment option based on risk tolerance and investment goals.

Tax Features

What are the tax features? Expand

Generally, any realized gains or losses are taxable in the year the transaction occurs. For example, any distributions of dividends and capital gains are taxable whether they are paid to the trust in cash or reinvested to purchase more shares. In addition, for any sale (withdraw) or exchange, the gains are taxable or losses could be used to offset other taxable gains and income.

For a trust account, all the tax reporting is accomplished under the primary trustee’s name and Social Security number or the tax identification number of the trust.

Investments

How much can a trustee invest? Expand

Trustees can invest as much as the trust allows. Generally, there are no limits on the amount a trustee can put aside to save for the trust’s future needs.

What is the investment minimum? Expand

The minimum initial investment to open a new trust account at Janus Henderson is $100 with an automatic investment of at least $50. If an automatic investment is not established, the minimum initial investment is $2,500. Subsequent one-time purchases must be at least $50.

Are there any investment deadlines? Expand

No. A trustee may add to their investment at any time.

Fees

What are the fees for a trust account? Expand

There is no cost to open an account and no annual maintenance fees when account minimum thresholds are met.

Withdrawals and Helpful Information

How do you request a withdrawal? Expand

Depending on the account options you have selected, you may redeem shares by telephone, online or in writing. Proceeds of the withdrawal may be sent to the address on record or transferred to a bank account on record. Please note that all withdrawals are tax reportable to the primary trustee or trust.

When can trustees take money out of the account? Expand

Trustees have the flexibility of taking out the money when they need it or according to the terms of the trust. However, the longer you invest or stay invested, the more it will have a chance to grow in value.

Helpful Information

What other information might be helpful to know? Expand

Trustees make all the investment decisions and essentially manage the assets based on the investment needs and goals of the trust. Although a trust may have many advantages, the trustees should still reassess their estate planning needs as time goes by.

Some possible disadvantages of having a trust may include more oversight, understanding of complex tax rules and regulations and costs associated with creating and maintaining a trust. It is highly recommended that individuals work with a knowledgeable attorney or professional tax advisor when creating a trust.

Oversight of important details can be costly to the beneficiaries of the trust and may cause unnecessary restrictions in how the assets of the trust are distributed, especially if the trust is a primary beneficiary of a retirement account. Using a trust as a beneficiary for a retirement account may not be wise and careful consideration is advisable.

 

Open a Trust Account

Consider opening a trust account at Janus Henderson as a wealth management tool for an established trust.

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Investing involves risk, including the possible loss of principal and fluctuation of value.

An IRA should be considered a long-term investment. IRAs generally have expenses and account fees, which may impact the value of the account. Non-qualified withdrawals may be subject to taxes and penalties. Maximum contributions are subject to eligibility requirements. For more detailed information about taxes, consult IRS Publication 590 or a tax professional regarding personal circumstances.

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