ASSOCIATION OF
COURT ORDERED AND MONITORED TRUSTS AND ACCOUNTS
ACOMTA is a nonprofit 501(c)(3) tax-exempt organization established to support State and Federal Courts’ use of blocked or restricted accounts and trusts for minors, disabled, and incapacitated persons.
ACOMTA strives to provide the Court’s lower costs and greater options, flexibility and access to data to support minors’ needs.
PROGRAM RESOURCES
ACOMTA’s lead program offering is C3BR - Clerks, Commissioners and Courts Blocked and Restricted Account Trusts.
AVAILIBILITY
Traditionally, Court-Ordered Blocked, Restricted and Monitored accounts are held in a basic bank savings account or illiquid structured annuities with no active fiduciary controls or supervision.
C3BR is available for use in all 50 states and U.S territories
The lack of active fiduciary controls over these bank savings accounts limits the Courts flexibility, unnecessarily burdening the Court’s docket and potentially harming the beneficiary.
C3BR SOLUTIONS OVERVIEW
C3BR makes low-cost trust-based solutions available across a wide spectrum of Court needs including but not limited to Court Ordered:
Blocked Minor Accounts – No distributions allowed until the beneficiary obtains the Court ordered stipulated age, or by other Court order.
Restricted Minor Accounts - Allows limited use of funds for Court pre-approved selected purposes, and full distribution upon the beneficiary obtaining Court order stipulated age or by Court order.
Supervised Block and Restricted Accounts – Monitored under the supervision of a Public Guardian who supervises distributions and coordinates as required with the Courts.
C3BR provides Courts a low-cost trust based alternative solution to traditional bank savings accounts and structured annuities for Blocked and Restricted accounts. By providing robust fiduciary controls, supervision, 24/7 access to account data, and greater design flexibility; C3BR affords better outcomes for the Courts, and Minor beneficiaries.
C3BR POOLED TRUST ADVANTAGE
C3BR’s patented proprietary technology provides low-cost, flexible solutions to meet the Court’s needs and the minors appearing before the Court. Quick and easy to implement, the system is accessible via most modern web browsers.
-
No software to install
-
Automatic annual reporting
-
6 Low-cost institutional investment options that provide next day liquidity. Options range from FDIC principle guaranteed money market to growth-oriented asset allocations
-
Provides the Court greater flexibility, design restrictions, and uses
-
Reduces the Court Docket
-
Robust account monitoring and exception reporting audits sent directly to the Court ensures account integrity
-
Interfaces with the Public Guardian as required
-
Real-time 24/7 on-demand reporting access for the Court and its offices
-
Can solve the Kiddie Tax trap
-
Low cost
-
Guarantee of no “unauthorized distributions” affords asset protection and protection from creditors
-
FDIC coverage up to $125,000,000 for funds held in Money Market
-
Secure and simple online account set up eliminates the need to travel to the bank
-
Affords true institutional fiduciary oversight and control
-
Protects future government benefits and student financial aid eligibility of the beneficiary
-
Provides pre-vetting of distribution requests with guidance from the Court and its offices
-
Manage multiple accounts with a single login
-
Currently in use by Courts across the country
-
May reduce the tax burden on the beneficiary and their families
C3BR POOLED TRUST ALLOCATION OPTIONS
C3BR provides the Court or the guardian the flexible option of six allocation options. The Court may mandate the investment option to be utilized or leave discretion to allow the guardian discretion. The advantage of flexible allocation options provides the Court (or the guardian) the ability to match the risk tolerance and suitable allocation.
ABOUT THE TEAM
The ACOMTA team is comprised of internationally recognized fiduciary, tax, government benefit and trust experts.
ACOMTA team members are widely published and routinely provide expert testimony and input on fiduciary services and guidance to State and Federal Courts on trust construction, settlement taxation, administration and fiduciary matters for both minors and adults.
CONTACT US
For more information contact:
1.855.227.4591 for Damon Thomas, AIF®
Glen Armand 540.347.4470,ext 204
