The Public Trustee's fees and charges are very reasonable. If you would like specific details, the Public Trustee will advise you of the full extent of our costs before you make any commitment.

For further information please call 1800 068 784

All fees and charges quoted are inclusive of GST and are current at date of printing.

To make a Will

The Public Trustee can prepare Wills where it is appointed as sole executor. If you decide to appoint the Public Trustee to administer your estate, the cost of making a Will is:

• $20.00 for a single Will
• $30.00 for a couple.

The Public Trustee will prepare your Will free of charge if:

• you are a beneficiary of an estate that is (or has been) administered by the Public Trustee
• you hold a Seniors Card or a Government Benefit Card
• you wish to amend your existing Will prepared by the Public Trustee Tasmania.

To make an Enduring Power of Attorney

Enduring Powers of Attorney are prepared free of charge for clients who appoint the Public Trustee directly as their sole Attorney.

When the Public Trustee is nominated as a substitute Attorney, there is a fee of $100.00 to prepare each Enduring Power of Attorney document.

To administer an estate

When your estate is administered a fee is charged on assets held in your sole name that are either realised or transferred to a beneficiary:

On the first $100,000 or part 4.4%
On the next $200,000 or part 3.3%
On the next $200,000 or part 2.2%
On amounts above $500,000 1.1%

It's important to know that the fee will be reduced:

• if you own assets (say, your house, or land) as a joint tenant then no fee is charged at all
• if you have solely-owned assets which are classed as 'matrimonial assets' and which are transferred to your surviving spouse or defacto partner - for example the family home, motor vehicle, household effects and furniture - then the fee charged on these assets is only 2.2%.

To act as Attorney

If your Enduring Power of Attorney is activated and the Public Trustee acts as your Attorney, an hourly management fee is charged. It is important to note that the actual cost will vary depending on the type and amount of work required to be performed.

To act as Financial Administrator

If the Guardianship and Administration Board appoints the Public Trustee as a Financial Administrator, the following fees are charged:

• $550.00 one off establishment fee
• a fee of 2.2% on assets which are retained and eventually transferred to the legal personal representative of the represented person at the conclusion of the administration
• a fee on any assets realised during the financial administration (eg collection of bank account, property sale) is charged at the same rate as administering an estate
• a fee of $60.00 for completing the annual report required by the Guardianship and Administration Board
• a fee of $135.00 for completing the 3 yearly review and report required by the Guardianship and Administration Board.

To act as Trustee

Where the Public Trustee is appointed Trustee of a court awarded trust, the fee charged on the first $100,000 or part thereof, is 2.75%.

Where the value of the trust exceeds $100,000, on request, the Public Trustee will provide a written estimate of the amount of the fee it will charge based on the specific needs and circumstances of the beneficiary of the trust and the work that is required to be performed.

Other Costs

Income Fee

The Public Trustee charges a 6.6% fee (which may be tax deductible) on the receipt of all income such as interest, dividends, pensions and rental income (where the Public Trustee is managing the property). A 3.3% fee is charged on rental income where the Public Trustee is not managing the property.

Investment Management Fee

A 1.1% investment management fee (which is tax deductible) may apply to invested funds not directly managed by the Public Trustee.

Fees & Out of Pocket Expenses

We do not charge for postage, photocopying and facsimiles, telephone attendances, correspondence or reasonable travelling expenses.

The following fees and charges may apply:

• account fee ($13.50 per month)
• cheque drawing ($6.00) direct credit ($3.20) and bank draft ($11.00)
• investment review fees for developing an investment strategy for the client portfolio. The fee charged is dependent upon the complexity of individual circumstances
• a minimum fee of $100.00 is charged for the preparation and lodgement of income tax returns. Other taxation services including the establishment of the acquisition details of assets for capital gains tax purposes are provided at the Public Trustee's hourly rate.
• a conveyancing service fee is charged in accordance with the scale set by the Public Trustee in respect of services performed.

Legal Services

The Public Trustee uses its own solicitors, a team of highly-skilled professionals who specialise in wills, estate and trust law, to protect the terms of your Will or trust deed and the interests of your beneficiaries.

Legal services provided by our own solicitors are charged at a rate determined by the Public Trustee but not exceeding the maximum hourly attendance rate set out in the Supreme Court Rules 2000. If the Public Trustee engages external legal practitioners, charges for their services will applied at the particular rate negotiated between the provider and the Public Trustee.

Home Visits

We appreciate that there may be times when you are unable to visit one of our offices. If, for any reason, you cannot visit us we will gladly arrange to visit you wherever you live in Tasmania.

A small fee may be charged for this service.

The services provided by the Public Trustee are available at our offices throughout Tasmania. Regional visits to major population centres throughout Tasmania and personal visits to clients unable to attend any of our offices ensures all members of the community are able to access our services.

PLEASE NOTE: Our Fees and charges change from time to time. We take great effort in ensuring all our promotional material is up to date. Please check with the Public Trustee staff or the website to ensure you are aware of the latest fees and charges.

 

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The information on this website does not constitute advice by the Public Trustee and if you require advice you should contact the Public Trustee.