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Non-Tech : Interactive Brokers / Timberhill

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To: rllee who wrote (8973)	9/23/2013 6:20:03 PM
From: Gulo	of 9012

I don't know the U.S. laws, but in Canada I have accounts that I hold in trust which are not registered as trust accounts. That way, they just appear as additional accounts under my name. I then have the accounts listed in my will as "being held in trust for..." Yes, I have to explain it all once in a while to the Canadian tax authorities, but as long as I eventually transfer them to the beneficiaries, all I have to do is pay tax on dividends, realized capital gains and interest. I could deduct the tax from the account as a fee, if I wanted (but never have). How its managed may be dictated by how the trust was established. IB lets you have a number of accounts without paying professional fees. The alternative is to keep it all unsegregated in your own account and just keep your own account books. -a

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