Originally Posted by nemesis661
I'm pretty sure it can be set up to not do this. I had a small trust account that recently matured. Prior to that date I had no knowledge of it. There were very few statements sent (if any) and they didn't start coming to me until I took over the account by verifying my identity.
I guess I was assuming something similar was the case.
Trust are set up with a supervisor or "trustee" and its thats persons job to keep up with the details of the trust. They would have complete control and would pay the taxes or have the trust set up to pay itself (someone has to do it though) and have a CPA come in.
Investments are in someones name as a custodian and a minor or joint account holder. Minors dont worry about anything (529 plans or UTMAs) but custodians need to keep up with taxes and witholding and disburstments.
There is a chance people moved and lost touch with the company but Janus knows this and if there is enough $ in the account to pay the fees then they keep it moving until somoene tracks the account down or they get ahold of the client.
You must be on the account to even question it so you probably dont have access.