Center for Special Needs Trust Administration - What Happened To The Centers
Phone: 813-687-8818
Email: join@cptcharity.org
Center for Special Needs Trust Administration – What You Need To Know
The founder of the Center for Special Needs Administration, a St. Petersburg, Fla. nonprofit that administers Pooled Trusts and Special Needs Trusts for disabled and injured individuals, has been accused of stealing $150 million from client accounts.
The Center has filed for bankruptcy and the FBI is conducting a criminal investigation. The bankruptcy court appointed a trustee to oversee the Center’s assets.
Who is Affected
The alleged theft has impacted over 1,500 clients, many severely disabled, who are now left with little or nothing in their accounts. Clients are in 40 states with the majority in Florida followed by New York and Tennessee.
What’s Next
After a nationwide search, CPT Institute was selected to take over the administration of the Pooled Trusts and some individual trusts managed by the Center. Individual trust victims can continue with CPT Institute as their new trustee or opt out and select their own trustee. The opt-out period is October 2024 through November 22, 2024.
For individual trusts, CPT Institute will evaluate each trust and contact trust holders to discuss their options.
Transparency
At CPT Institute, we understand how overwhelming it can be to plan for your financial future, especially when facing long-term disability. Our clients count on us to manage their trust assets safely and securely while maintaining eligibility of important government benefits including Medicaid and Supplemental Security Income (SSI).
When choosing a nonprofit organization to manage your trust, transparency is vital. With CPT Institute, clients have access to their accounts through a secure, online portal so they can review their balance and all activity in real-time. An independent accounts audit is conducted annually with results submitted to our all-volunteer board whose members work with those with special needs or who are in the medical profession. Each quarter, trust performance reports are provided to the board for review. Our actions are always marked by honesty and transparency.
Questions?
Contact us:
Phone: 813-687-8818
Email: join@cptcharity.org
Links:
- FBI Seeking Victims In Center For Special Needs Trust Administration Investigation
- Bankruptcy Filing for Center For Special Needs Trust Administration
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