We’ve Enhanced Our IT to Serve You Better
Next Generation Trust Services has just finished some important technology upgrades to meet the growing demand for faster, more secure financial computing and to support our customers’ online activity. We recently installed a more robust server with expanded capabilities and protections. This gives Next Generation full system redundancy and extra protections for all our data, software and hardware. The IT upgrades add more network security, more stable and faster internet connections, and more reliable services that will be monitored continuously.
Next Generation’s new IT enhancements include:
- 24x7x365 proactive network monitoring and remediation – this ensures that all computer systems are available and ready for daily business demand at all times. The round-the-clock monitoring means that IT engineers can respond quickly to remedy a service interruption, with minimal or no disruption to office operations
- Multi-layer security for internet browsing and email – the need for more powerful security around internet and email activity, especially in the financial services field, cannot be underestimated. Next Generation Trust Services’ server has advanced firewall protection and new anti-virus and intrusion protection to safeguard against system breaches.
- Offsite and local data backup with replication to secondary secure location – this feature ensures that Next Generation can easily recover and restore its data and all programs in the event of a power outage or system problem. Compunite installed the IT industry’s leading service that has the highest compliance standards available for financial services companies. Critical data remains secure and backed up in multiple locations.
Thank you to the IT professionals at Compunite Computers in Pine Brook, N.J., a managed services and cloud provider, who implemented the new systems, and will ensure our systems are always upgraded as they should be on an ongoing basis.
Happy Birthday, Next Generation Trust!
This January marks Next Generation Trust Services’ first birthdayunder our new company name. A huge thank you to the continued patronage of all of our clients and the interest of our prospects, who have proved to be the beating heart of our company.
Jaime Raskulinecz, CEO of Next Generation Trust Services issued a press release this morning on PRWeb.com in reference to our one year anniversary, providing an overview of the company in the past year as well as covering the addition of extra staff, technological improvements, and an entire addition of social media to our marketing efforts.
Raskulinecz started the company in 2004 as part of a national network of self-directed IRA administrators; after growing the firm’s assets held to $150 million within the first five years she decided to break away from the network and become truly independent. In January 2011, the firm emerged as Next Generation Trust Services and it’s been a whirlwind ever since.
As part of our calendar this year, Next Generation Trust Service looks forward to an increase in webinars, in-office events and seminars, as well as workshops and study groups to educate and increase awareness of self-directed IRAs. Please check out our Events page for more information, and to see the upcoming events in your area!
Thank you again, and we look forward to another prosperous year!
6 Mistakes That Can Ruin Your Retirement Savings
Finally opened that self-directed IRA? It’s easy to get swept up in the sea of options when it comes to choosing your own investments, but if you’re not careful, you can find yourself overwhelmed with taxes and penalties for simple mistakes you may not realize you’re making. When it comes to investing in a self-directed IRA, having your ducks in a row is most important to keep the heavy hand of the IRS at bay.
Here are 6 surefire ways to ruin your chance at a wonderful, self-directed retirement.
1. Using your IRA’s Property for Personal Use: A lot of prospects we speak to are often under the unfortunate impression that they can use their retirement funds to purchase a second home. Real estate within an IRA is for passive income only, which is to say it should only be to generate income for your IRA from arm’s length. In order to avoid penalty, excess tax and the distribution of your entire IRA and more, you or any other disqualified person may not live in the property, work or rehab the property directly.
2. Paying your IRA’s Expenses Out of Pocket: If your IRA has purchased an investment that incurs expenses, you want to make sure you leave enough cash within your account to cover this. In the case of real estate, this may include tax bills, rehabilitation costs and other everyday costs. You, personally, may never pay these expenses out of pockets—if you do, this may be considered an excess contribution and penalties may apply until these funds are removed from the IRA.
3. Using an Entity to “Hide” a Disqualified Person: Whereas loans and commercial paper can be very equitable for the savvy investor, the only hard rule standing on this topic is one that many try to get around. The IRS indicates that you cannot lend or transact with a disqualified person (yourself, your spouse, any ascendants, descendants or their spouses). This also goes for any entity owned fully or mostly by such a person. The IRS sees through all filters, and even if your self-directed custodian doesn’t catch that Awesome Business, LLC is owned by your son, the IRS will.
4. Taking Possession of Funds Directly from Your IRA’s Investment: The money’s yours right? So, it should be alright if your investment sends a check for the proceeds to you directly instead of to your self-directed custodian? This presumption can cost you dearly as doing this would be considered a distribution; your custodian will be required to release the entire investment at whatever value they have on file to you. This means 1099s, this means income tax and possible early withdrawal penalties if not corrected quickly. This will apply even if you send it over to another custodian. Income or principal must always return to the custodian that made the investment initially, from there, it can go wherever you’d like.
5. Funding an Investment Through a Custodian that Typically Does Not Self-Direct: It’s easy to get excited about a nontraditional investment, especially since you’ve found out that your investment options are not limited to stocks, bonds and mutual funds. A mistake many clients make is using their traditional custodian to make an investment without verifying that this is something they’re allowed to do within the company. Occasionally, these traditional custodians have a special department dedicated to these “unusual” assets, but most times, they’re actually making a taxable distribution of your funds to this investment and issuing a 1099 at year end. Make sure your custodian understands your intent when you provide these instructions, and if they cannot make this investment, transfer to a self-directed custodian.
6. Rolling Over Funds from a Non-Spouse Beneficiary IRA: Say you’ve inherited your old Aunt Sally’s IRA upon her passing. Though your investment options stay the same, there are other special tax rules for beneficiary accounts. One special rule that applies only to these accounts is that the only way to move funds from IRA to IRA is through a direct custodial transfer. If you take a distribution, it cannot be contributed into another beneficiary IRA as a rollover. All distributions are final, in your pocket and potentially taxable.
Many of the mistakes listed here can be avoided by keeping in contact with your self-directed custodian. It is the responsibility of the client to provide as much information as possible to ensure that they stay within IRS regulations. At Next Generation Trust Services, our focus is on education first, so we encourage you to give a call to go over the specifics of your investment scenario before making your investment.
Learn about a Debt-Free, Hands-Off approach to Real Estate Investing
Last chance to listen in on our last webinar! This link will only be available for the next 30 days.
Learn about a Debt-Free, Hands-Off approach to Real Estate Investing. Next Generation Trust Services, LLC will be a guest speaker on a webinar that will be hosted by Vincent Minervini, President of V.M. Holding LLC.
Listed below is the agenda for the event as given by Mr. Minervini. In order to register for this webinar, you must use this link Register Here
Attendees will learn the following:
How to Keep Your Retirement Safe Using Real Estate
How to be totally Hand-Off and never deal with tenants and toilets
How to Capitalize on a Profitable Unique Niche we discovered 7 years ago
How to generate residual Passive Income with no work on your part
How to earn Better Returns than savings, CD’s, and money markets
How Real Estate can be a solid alternative to the stock market roller coaster
How to use your self directed retirement plan to grow your money Tax Free
Jennifer Bzik, CISP, Operations Manager for Next Generation Trust Services, LLC, will demonstrate how a self-directed IRA could be used in the type of investments proposed by Mr. Minervini.
To listen to the replay, please go to: Listen Here
DISCLAIMER: Next Generation Trust Services, LLC does not endorse any products, services or investments that may be involved in the webinar, and is participating solely in an educational manner. Potential attendees are encouraged to do their own due diligence regarding any investments mentioned during the webinar.
2010 Contribution Deadline Looms
2010 Contribution Deadline
As many of you know, the tax deadline and contribution deadline for 2010 has been extended until Monday, 4/18/11. As it is quickly approaching, it is imperative you make arrangements now if you wish to make an IRA contribution for 2010.
For our existing clients, those whose account has already been opened, we can accept contribution checks up until 4:00 PM on Monday, 4/18/11.
For those who have been considering opening an account, if we have your completed account documents and all required information as well as your contribution check before 2:00 PM on Friday, we can still get your account opened and process your contribution for 2010.
For all those looking to really jump start their investing, please note you may also make your contributions for 2011 as well as 2010.
As always, contact any of our staff members for questions at 888-857-8058.
To find forms to open an account:
Forms to make a contribution:
Roseland company emerges as Next Generation Trust Services
2011-03-04 07:47:40 – After six years of steady business growth, on January 1 Entrust Northeast of Roseland, New Jersey, changed its name to Next Generation TS, LLC. Cofounders, Jaime Raskulinecz, CEO, and Linda Varas, principal, decided to go independent and part ways with the former licensor in order to have full control in all corporate decisions for their successful self-directed retirement business. Next Generation Trust Services focuses on educating people on the ability to invest in nontraditional assets within an IRA and a 401k and the tax advantages associated with them. The company also provides administrative support and account maintenance to clients interested in self-directing their retirement portfolios with investments that are not typically found in an IRA, such as real estate or gold.
Next Generation Trust Services also has a new Web site, www.NextGenerationTrust.com, which includes an informative blog, an online IRS resources guide, a library of transaction forms, a schedule of seminars on self-directed retirement plans, and staff profiles.
“We’ve experienced tremendous growth over the past five years,” explains Raskulinecz, “and I believe that our name change, recent relocation to larger headquarters in
Roseland, and professional staff additions will all serve the company well to keep it headed in the right direction.”
Next Generation Trust Services, headquartered in Roseland, New Jersey, is a professional third-party administrator of self-directed retirement plans. NGTS provides education, administrative support, and account maintenance to individuals interested in self-directing their retirement portfolios with investments that are not typically found in an IRA, such as real estate and gold. Self-directed retirement plan assets can be used to purchase a wide array of other nontraditional investments as well, including notes and mortgages, private placements, accounts receivables, limited partnerships, hedge funds, and precious metals. With sales offices in New York City and Stamford, CT, Next Generation Trust Services covers New Jersey, New York, and Connecticut, and via its new Web site, the company services clients nationwide. For more information on self-directing a retirement plan, visit www.NextGenerationTrust.com, call 973-533-1880, 888-857-8058 (toll free), or e-mail: Info@NextGenerationTrust.com.
Many Americans Abandon Assets in Old 401(k)s
Don’t be one of them! And, if you are, make plans now to get these funds into an IRA. You will typically have more options for investments and lower fees. If you choose a self-directed IRA administrator you will also have total control over your investments.
A recent survey done by Harris Interactive showed that 30% of respondents said they failed to rollover those retirement assets because they are unsure about the rollover process. And that’s not all – 24% of those with old 401(k)s have between $10,000 and $49,999 in those accounts, and those closest to retirement (ages 55 and older) are leaving the largest amounts of money in these old plans – 29% with $50,000 or more!
Let us show you how simple it is to roll over these funds into a self-directed IRA. Please follow this link for more information on this simple process.