Kahkewistahaw 1907 Trust

 

What is a Trust?

 

A trust is an equitable obligation (as opposed to a statutory obligation), binding a person (who is called a trustee) to deal with property of another person (who is called a settlor) over which the trustee has been given control and legal title (which is called the trust property) for the benefit of a third party (who is called the beneficiary) according to specific terms generally set out in a trust instrument or agreement. Any of the parties, settlor, trustee or beneficiary can enforce the obligation. Any act or neglect on he part of the trustee which is not authorized or excused by the terms of the trust instrument, or by law, is called a breach of trust. Trustees are personally liable for such breaches

 

Background

That our claim was settled on November 25, 2002 at 94.6 M. Our mandate is to purchase 29,000 acres of land to put us back in the same position that we were back in 1907 when the Federal Government erroneously purchased our land. According to our Settlement Agreement the Federal Government has committed to turn any of purchased land to reserve status within a 30 year period from the date of settlement.

 

Who can be a Trustee and How?

Except during vacancy there shall at all times be five (5) trustees. Except for the interim trustees, the selection of Trustees will be as follows:

  • (a) A majority of the Trustees must reside on the Reserve, provided that all times two (2) Trustees shall reside off reserve.
  • (b) Each Trustee must:
  • (i) be a member who has attained at least the age of eighteen (18) years as of the date of his or her appointment;
  • (ii) not be the Chief or member of Council as of the date of his or her appointment as a trustee;
  • (iii) have the minimum of Grade 12 or equivalent education recognized by the province where the member resides;
  • (iv) not have been declared mentally incompetent by a court of competent jurisdiction in Canada or elsewhere;
  • (v) not have been convicted, but not pardoned, of an offence in he past 10 years;
  • (vi) not have been declared bankrupt, pursuant to the previsions of the applicable bankruptcy legislation, in the past 7 years;
  • (vii) be eligible for the bonding as determined by the institution, according to standards determined by the institution and the First Nation and;
  • (viii) be free of prohibited drugs.
     

Minors Trust

ON behalf of the First Nation, our office monitors and distributes the Minor Trust Account, with the assistance of our Financial Institute.

All Minors that were born and registered members, as of November 25, 2002 have had their Minors Trust Funds held at the Financial Institute until they reach their 18th birthday.

On the day of their 18th birthday or earlier, they need to complete the following:

  • 1) A Release Form
  • 2) Provide 2 pieces of identification that has any combination of their signature and picture.

In the event, that the minor would like the funds transferred to their bank account, we would need the documents listed above by the middle of the previous month including their bank information. If all documents are in place, our Financial Institute will do a transfer to the Minors Bank Account, provided that the information is provided to us by the middle of the previous month. (For example, if a Minor turn 18 in September, he/she would need their information submitted to us by the middle of August.)

The past and present Trustees meet with our 2 Investment Managers, twice a year for updates on how our investments are doing. As of December 2016 (11 years after the settlement date) we have grown our Trust money to a point that is close to what our original settlement was. We also have an Investment Consultant that assists the Trustees in monitoring our Investments Managers to ensure that they follow our Investment Policy.
 

 

Download 2017 Annual Report

 


 

 

  • Kahkewistahaw 1907 Trust Staff  
     

    Contact Information:

    TOLL FREE: 1-866-661-2680
    Phone: (306) 696-2680
    Fax: (306) 696-2775
    Email: kfntrustees@yahoo.ca

    Trust Coordinator
    Marlous Louison

    Community Development Coordinator
    Lindsey Bird

    Lands Manager
    Alexander Lerat

    Executive Assistant
    LeeAnn Fitzgerald

  • Kahkewistahaw 1907 Trustees
     

    Justin Delorme
    Off – Reserve Trustee
    Term ends: August 30, 2019

    Lois (Chooch) Taypotat
    Off – Reserve Trustee
    Term ends: May 24, 2019

    Faith Bob
    On – Reserve Trustee
    Term ends: August 30, 2019

    Leslie Sparvier
    On – Reserve Trustee
    Term ends: August 30, 2019

    Stan Bobb
    On – Reserve Trustee
    Term ends: May 24, 2019