The first question that might come to mind is – why is CCT starting to offer a settlement preservation pooled trust (SPPT)? The answer to this lies in our mission. As a non-profit, CCT’s goal has always been to enrich the lives of individuals who are vulnerable, injured, or have a disability. Through our pooled special needs trusts, we have been able to do that for over thirty years. However, there is a significant swathe of the population who are injured or vulnerable, but do not meet the criteria to be eligible for a special needs trust, like a minor child without a disability oran adult with a chronic illness that is not severe enough to meet the standardfor a special needs trust.
Over the years, CCT has been asked by attorneys and other professionals to provide pooled trust services to vulnerable people who do not have a disability. With the establishment of the CCT SettlementPreservation Pooled Trust, we are able to serve these clients.
The second question might be, what exactly is an SPPT? Who is eligible, how long do the trust accounts last? CCT’s counsel, Ben Tiefenback and Rachel Baer, dig into the details. Click below to read more.