2020 price changes explained

The Public Trustee believe every Tasmanian should have a Will and estate plan. Therefore we are simplifying our estate planning fee structure and amending our capital commission fees.

 Estate planning Fees

In 2020, we will charge one fee to prepare a professional Will, enduring power of attorney or enduring guardianship, regardless of who you appoint as your executor or attorney. Please refer to our fees and charges information sheet for appointment times.

To ensure clients have a complete estate plan, an enduring power of attorney document can be prepared in the same appointment as a Will for the same price. Addition fees will apply if the document is prepared at another time. 

 

The Public Trustee’s estate planning service rates for 2020 are listed below.

Estate Planning preparation fees (incl. GST)

Single Person

Couple

Will preparation

(Appointment Includes preparing an enduring power of attorney)

$140

$210

Enduring power of attorney preparation

(financial matters)

$140

$210

Enduring guardianship preparation

(medical and lifestyle matters)

$140

$210

 

Seniors card and concession card holders can still prepare a professional Will and enduring power of attorney for free* when the Public Trustee is appointed as the executor and/or attorney. (* subject to terms and conditions)

 

 Capital commission fees

The Public Trustee has changed its capital commission fees for the first time in over 30 years. The table below highlights the amended capital commission fees that will apply from 1 January 2020. The new fees are applicable when we are required to administer a deceased estate or when realising assets for a client under a financial administration order by the Guardian and Administration Board, if they have assets worth over $100,000.

 

Capital commission Fee Changes

Fees from 1 January 2020

On the first $200,000 or part

4.5%

On the next $200,000 or part

3.5%

On the next $200,000 or part

2.5%

On amounts above $600,000

1.5%

 There are no capital commission fees taken on jointly owned assets and a discounted fee on matrimonial assets (e.g. transferring a home to the surviving spouse) will still apply.

 

For more information our fees and charges information sheets can be found here. Or please call our office to get advice tailored to you circumstances.