Fee Schedule

Note: When establishing a trust with CCT, the Fee Schedule must be signed and included with the Joinder Agreement.  Click here for a printable version of the Third-Party Pooled Special Needs Trust Fee Schedule.

Commonwealth Community  Trust (CCT) is a nonprofit organization whose expenses for administration are intended to be met through fees. The following fees apply to CCT’s Third-Party Pooled Special Needs Trust:

CCT Fees

  • Enrollment Fee$850, made payable to CCT when the trust is established by the Grantor.
    • If necessary, an installment plan for this Enrollment Fee can be arranged by contacting CCT.
  • For trusts that will not be funded immediately, an Annual Renewal Fee of $75 is applied one year after the trust is established, and is billed on an annual basis until the trust is funded.
  • For trusts that are established after the Grantor has passed away, the Enrollment Fee is three (3) times the Enrollment Fee at that time. This increase is due to the complexity of administering the trust without prior information from the Grantor.
  • CCT Consultation Fee for funded trusts – 0.50% per year*, prorated on a monthly basis
  • CCT Termination Fee for funded trusts – $500, only applied if the Beneficiary passes away or if the trust is moved to a different fiduciary

The Trust Company of Virginia (TCVA) has fiduciary responsibility for both managing and investing the funds.

  • Checks can be made payable to TCVA, trustee for CCT, fbo (Beneficiary Name) for deposits to the beneficiary’s subaccount at any time.
  • The funds are pooled for investment purposes, and a record is maintained for each Beneficiary’s sub account.
  • Neither CCT nor TCVA can guarantee returns or rates of income on invested funds.

TCVA Fees

  • TCVA Investment & Management Fee – averages 0.34% per year*, prorated on a monthly basis
  • TCVA Annual Record Keeping Fee – $200 per year, prorated on a quarterly basis
  • TCVA Set Up Fee – $300, one-time fee applied upon the funding of each sub account

Additional Information

When the trust is funded, the minimum initial funding is $5,000 or greater.

Upon the death of the Beneficiary, any funds remaining in the sub account, after payment of administrative fees, will be paid out according to the provisions of the Joinder Agreement

CCT and TCVA reserve the right to change the above fees.

Services are intended to be inclusive, but separate and additional charges may be imposed for special or extraordinary services.  Examples are special investment management situations, court accountings, attorney fees, and case management services.

*      CCT Consultation Fee and TCVA Investment and Management Fee are based on the current balance of each Beneficiary’s sub account.

Click here for a printable version of this Fee Schedule.

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