Next Generation Trust Services, a self-directed IRA custodian plan established in South Dakota, is the sister firm of Next Generation Trust Company.
Next Generation Services offers all administrative and transaction services to its clients, while Next Generation Trust Company serves as the custodian for all accredited accounts.
The philosophy of the Next Generation Trust Company is to control your future or anticipated fortune alongside transaction support and personalized service. They have made several attempts to educate their clientele on the issues through private webinars, blogs, newsletters, and so on.
They provide self-directed retirement plans and chances to invest as neutral third-party professionals in unconventional ways. Once again, they have devised a distinct way for the ultra-wealthy.
South Dakota is the headquarters of the Next Generation Trust Company, and Next Generation Trust Services and Next Generation Trust Company have offices in Sioux Falls and Roseland, Minnesota, respectively.
Next Generation is a trust and administrative service provider committed to providing its clients with white-collar services.
They also guarantee that clients have the necessary tools and assistance to maintain their investment. Self-Directed retirement plans allow you to invest in flexible assets and generation services which are also considered a tax-deferred investment option.
Next Generation Services, LLC and Company have hired individuals with expertise in the field of self-directed retirement plans and generation services. They have been trained to return the best results for the clients and the trust.
Jamie Ruskulinecz is the CEO and Founder of Next Generation Trust Services, and she was the one to take the initiative with the IRA services.
She founded the company in 2004 when she noticed the absence of real estate IRA investment within the limited budget in the market. Jamie is a certified real estate broker, a property manager, and an active member of several real estate organizations in the county.
She was recognized as one of the 25 leading female entrepreneurs in New Jersey.
Linda Varas is the principal of Next Generation Trust Company, chartered in South Dakota, overseeing Next Generation’s back-office operations and other administrative areas.
She has been in the property management business since 1994 and is a real estate investor. Karen Jung is the Director of Finance at Next Generation, and she belongs to the field of corporate finance, and Karen is in charge of the financial areas like transactions and billing.
The other members of the Next Generation Trust Company executive team are:
Bill Witter, Compliance Manager
Kyle Schickram, Operational Manager
Emma Olson, Client Service Supervisor
Erica Figueiredo, Marketing Specialist
Jack Malpass, Business Development Specialist
Scott Ritchie, Business Development Specialist
Types of Retirement Accounts
The Next Generation Trust Services offers different sorts of IRA accounts for different groups of people with comprehensive account administration. We include a brief summary of those accounts below.
If you’re going for a self-directed IRA with a Next Generation Trust Company account individually and you have a stable job, these are your potential options:
You have to fund traditional IRAs with pre-tax money, and the taxes will only be applicable when you withdraw the money from your IRA. This is a tax-deferred way of funding, so your income will be lower after retirement.
Thus, the overall tax burden will be lower. Anyone below 70 is allowed to open an IRA account with Next Generation Trust Company acting up, but the contribution differs when your spouse is also a part of the plan. Direct transfer or IRA rollover is available with Next Generation Services as self directed ira custodians.
This differs from a traditional IRA because you’ll pay the retirement accounts with your post-tax money. However, you will not be charged any taxes at the time of withdrawal; this is not a tax-deductible investment method but a no-minimum distribution in this case. You must be 5912 with an account age of five years to be eligible for the withdrawal of the IRA, and Next Generation will provide a comprehensive account administration. You can invest in mutual funds, precious metals, etc., and diversify your retirement portfolio.
Business Owners’ Retirement Accounts
Next Generation Trust Company and Services has added three options for business owners as trusted advisors with alternative assets.
This is similar to a traditional IRA because you have to fund it with tax-deferred money. Thus, the money will not be counted on your present taxes.
SEP IRAs are eligible for small businesses, and you have to be an owner. You have to be 21 years of age or older to qualify for the SEP-IRA. The minimum income for SEP is 600 dollars, with Next Generation Trust Services offering a seamless transaction experience.
This is also funded with pre-tax cash, and you are not charged any taxes till you draw the amount. This IRA is for small business owners, and the employee count must be less than 100. Annually, the owner must have a minimum of 5000 dollars to own retirement plans. Employees will be added to the IRA benefits here.
This IRA can be a post-tax or pre-tax investment and is not dependent on the client assets
. But this is only eligible for the permanent employees of a company.
Besides some conventional ways of investing, Next Generation Trust Services has added alternative retirement account options.
Health Savings Account (HSA)
The investments are made with pre-tax income and as nontraditional investments, and this is a tax-deductible way of income with Next Generation Trust Company. This plan is covered under the high deductible health plan of HDHP and can only be used to pay for medical expenses. Taxes do not apply to those over the age of 65.
A Covered Education Savings Account
This is a tax-free way of withdrawing if they are used for education expenses. The account’s beneficiary must be under 18 or a child with special care.
Next Generation Trust Company Acting Contributions
Traditional IRA: $6000, $7000 (over the age of 50)
Roth IRA: $6,000, $7,500 (age 50+)
SEP IRA: 25% (max $61,000)
SIMPLE IRA: $14,000
Next Generation Trust Services began by educating their clients, and they have included various blog pieces regarding the importance of investing in Self Directed IRAs. They have also offered information on how to begin a retirement plan and are accredited with Better Business Bureau. They provide live customer care via live chat and phone calls, and the service may be individualized to the client’s specifications.