Settlement Preservation Pooled Trust (SPPT)
A Settlement Preservation Pooled Trust (SPPT) is a trust arrangement designed for vulnerable individuals and minors, aiming to safeguard and manage funds received from a settlement or court award while preserving the individual's assets.
Joining Documentation
Funding the Sub-account
Funds used to establish the trust must be from a settlement or court award to the Beneficiary. CCT has a minimum of $8,000 and no maximum amount needed to fund the trust. CCT accepts cash assets or structured settlement payments for deposit into the trust; no real estate and non-cash assets can be accepted. Once funded, the trust is irrevocable.
How Funds in the Trust Can Be Used
Based on the terms of the Master Trust Agreement, CCT has the discretion to decide when to approve a disbursement request unless it is required by court order. All disbursement requests are evaluated through the lens of CCT’s fiduciary duty to its Beneficiaries, and through the Health, Education, Maintenance and Support (HEMS) standard.
For more information, see our Disbursement Information Manual.
Have questions?
If you have any questions about the process, please don’t hesitate to call our office at 804-740-6930 or email us at info@trustcct.org. Our staff is available to answer your questions Monday through Friday from 9:00 am to 5:00 pm Eastern Standard Time.
Mailing Address:
Commonwealth Community Trust
P.O. Box 29408
Richmond, VA 23242-0408
*Disclaimer Statement: CCT is not a chartered bank or trust company, or depository institution. It is not authorized to accept deposits or trust accounts and is not licensed or regulated by any state or federal banking authority.