Alliance for Pooled Trusts | Pooled Trust Providers Establishing Best Practices for the Industry

by John Darer CLU ChFC MSSC CeFT RSP CLTC

The absolutely shocking Chapter 11 filing of the Center for Special Needs Trust Administration, Inc. and the ensuing class action, with explosive allegations against its founders and other entities in the first (and perhaps not the last) of class action lawsuits has raised questions about the Pooled Special Needs Trust industry. 

Who is the Alliance of Pooled Trusts?

Alliance of Pooled Trusts (APT) is the first coalition in the United States dedicated to uniting Pooled Trust providers in establishing best practices for the industry. APT serves as a resource for its members and promotes high-quality pooled trust administration for the special needs community. Alliance of Pooled Trust (APT) was founded in 2021 to combat the challenges facing the Pooled Trust industry and connect Pooled Special Needs Trust (PSNT) providers.  

The Alliance of Pooled Trusts states that its focus is on these 4 areas:

EVOLVING LEGISLATION AND PUBLIC POLICY

Through targeted advocacy, Alliance of Pooled Trusts aims to influence future policy, legislation and regulations to ensure access to PSNTs as a resource for people with disabilities.

ANTICIPATED OVERSIGHT OF POOLED TRUSTS

Alliance for Pooled Trust is working to review and adopt best practices guidelines and national standards in the profession to remain one step ahead of recommended or required changes.

PROFESSIONAL CHALLENGES IMPACTING THE COLLECTIVE PRACTICE

Alliance for Pooled Trusts will share in its members’ knowledge and expertise to offer networking opportunities, program support and guidance for pooled trust administrators.

POTENTIAL ABUSES OF THE POOLED TRUST FRAMEWORK

Alliance for Pooled Trusts seeks to provide peer review of the administration of PSNTs through the process of accreditation and continual ongoing training opportunities, resources, and tools.

Source: Alliance for Pooled Trusts

Trustees are bound by a fiduciary duty to use the trust assets solely for the benefit of the beneficiary. Any deviation from this duty can be considered a breach of trust and may lead to legal consequences.