Public Trustee Fees & Charges

• Wills Fees & Charges

  (From 1 January 2020)

  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
  If the estate planning documents are complex to prepare an hourly fee of $295 (pro rata) may apply. A standard Will and enduring power of attorney are prepared free for Seniors and Australian Government Pensioner concession card holders when the Public Trustee is appointed as executor/attorney (card must be presented and only applies to one appointment per year). If you nominate Public Trustee as your executor fees will apply when we are required to administer your estate when you pass away. If you nominate Public Trustee as your attorney fees will apply if we are required to manage your affairs if you lose capacity or you choose for us to manage your financial affairs. Existing clients of the Public Trustee receive a 10% discount to prepare/revise new estate planning documents. Fees for couples are based on the assumption instructions are similar. Will (with an enduring power of attorney), Enduring power of attorney and guardianship preparation fees are based on the following standard appointment times Single person – 1 hour to take instructions + 30 minutes to draft the documents + 15 minutes for the documents to be signed. Couples – 1.5 hours to take instructions + 30 minutes to draft the documents + 15 minutes for the documents to be signed. If you need more time than a standard appointment to provide your instructions and/or for us to provide advice to complete your documents, we will discuss your options with you before additional time is charged.  If required additional time has an hourly charge of $295 billable on a pro rata basis of $29.50 for each 6 minute unit actually undertaken to complete your documentation.  There is an additional Government registration fee to register an enduring guardianship and or an enduring power or attorney. If the Public Trustee is asked to register these documents an administration fee is also charged. Time and travel fees apply for out of office attendances, such as hospital or nursing home visits. Please note this will depend upon staff availabilities and is only available in Southern Tasmania.

  Cost to administer your estate

  If we are appointed as your sole executor, fees apply only to assets that are NOT jointly owned.

  For more information on the Public Trustee’s estate administration costs, please refer to our Estate Administration Fees and Charges. Alternatively you can download a copy of the Public Trustee’s Fees and Charges brochure.

  ---

• Enduring Power of Attorney Fees & Charges

  Initial Cost

  (From 1 January 2020)

  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
  If the estate planning documents are complex to prepare an hourly fee of $295 (pro rata) may apply. A standard Will and enduring power of attorney are prepared free for Seniors and Australian Government Pensioner concession card holders when the Public Trustee is appointed as executor/attorney (card must be presented and only applies to one appointment per year). If you nominate Public Trustee as your executor fees will apply when we are required to administer your estate when you pass away. If you nominate Public Trustee as your attorney fees will apply if we are required to manage your affairs if you lose capacity or you choose for us to manage your financial affairs. Existing clients of the Public Trustee receive a 10% discount to prepare/revise new estate planning documents. Fees for couples are based on the assumption instructions are similar. Will (with an enduring power of attorney), Enduring power of attorney and guardianship preparation fees are based on the following standard appointment times Single person – 1 hour to take instructions + 30 minutes to draft the documents + 15 minutes for the documents to be signed. Couples – 1.5 hours to take instructions + 30 minutes to draft the documents + 15 minutes for the documents to be signed. If you need more time than a standard appointment to provide your instructions and/or for us to provide advice to complete your documents, we will discuss your options with you before additional time is charged.  If required additional time has an hourly charge of $295 billable on a pro rata basis of $29.50 for each 6 minute unit actually undertaken to complete your documentation.  There is an additional Government registration fee to register an enduring guardianship and or an enduring power or attorney. If the Public Trustee is asked to register these documents an administration fee is also charged. Time and travel fees apply for out of office attendances, such as hospital or nursing home visits. Please note this will depend upon staff availabilities and is only available in Southern Tasmania.

  If the Public Trustee is acting as the attorney, a pro rata fee of $120 per hour will be charged. A time sheet is kept and fees will be charged quarterly.

  Income Commission

  The Public Trustee charges 6.6% commission on the receipt of all income such as interest, dividends, pensions and rental income (where the Public Trustee is managing the property).  3.3% commission is charged on rental income where the Public Trustee is not managing the property.

  Investment Management Fee

  A 1.1% investment management fee may apply to invested funds not directly managed by the Public Trustee.

  The following fees and charges may apply: 

  • account keeping fee ($13.50 per month);
  • domestic cheque drawing ($6.00) and direct credit ($3.20);
  • international bank transfers ($24.00) and international bank drafts ($32.00), excluding any 3rd party transaction and processing fees;
  • investment review fees for developing an investment strategy for the client portfolio. The fee charged is dependent upon the complexity of individual circumstances;
  • depending on the complexity of the matter a fee will be charged for the preparation and lodgment of income tax returns and other taxation services including the establishment of the acquisition details of assets for capital gains tax purposes;
  • a fee for conveyancing and other services provided in relation to the sale, purchase or transfer of a property; and/or
  • work of a particularly complex nature not covered above will be charged at an hourly rate.

  Legal Services

  Services provided by our legal practitioners 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.

   

  ---

• Enduring Guardian Fees and Charges

  (From 1 January 2020)

  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
  If the estate planning documents are complex to prepare an hourly fee of $295 (pro rata) may apply. A standard Will and enduring power of attorney are prepared free for Seniors and Australian Government Pensioner concession card holders when the Public Trustee is appointed as executor/attorney (card must be presented and only applies to one appointment per year). If you nominate Public Trustee as your executor fees will apply when we are required to administer your estate when you pass away. If you nominate Public Trustee as your attorney fees will apply if we are required to manage your affairs if you lose capacity or you choose for us to manage your financial affairs. Existing clients of the Public Trustee receive a 10% discount to prepare/revise new estate planning documents. Fees for couples are based on the assumption instructions are similar. Will (with an enduring power of attorney), Enduring power of attorney and guardianship preparation fees are based on the following standard appointment times Single person – 1 hour to take instructions + 30 minutes to draft the documents + 15 minutes for the documents to be signed. Couples – 1.5 hours to take instructions + 30 minutes to draft the documents + 15 minutes for the documents to be signed. If you need more time than a standard appointment to provide your instructions and/or for us to provide advice to complete your documents, we will discuss your options with you before additional time is charged.  If required additional time has an hourly charge of $295 billable on a pro rata basis of $29.50 for each 6 minute unit actually undertaken to complete your documentation.  There is an additional Government registration fee to register an enduring guardianship and or an enduring power or attorney. If the Public Trustee is asked to register these documents an administration fee is also charged. Time and travel fees apply for out of office attendances, such as hospital or nursing home visits. Please note this will depend upon staff availabilities and is only available in Southern Tasmania.

  ---

• Estate Administration Fees & Charges

  You will receive services from a team of highly skilled professionals who specialise in Wills, deceased estate administration, trust law and financial administration.

  Estate Administration Fees and Charges:

  If you own assets (say, your house, or land) as a joint tenant	0%
  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	2.2%
  If assets held in your sole name are realised or transferred to a beneficiary the following fees apply:
  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%

  Income Commission

  The Public Trustee charges 6.6% commission on the receipt of all income such as interest, dividends, pensions and rental income (where the Public Trustee is managing the property).  3.3% commission is charged on rental income where the Public Trustee is not managing the property.

  Investment Management Fee

  A 1.1% investment management fee may apply to invested funds not directly managed by the Public Trustee.

  The following fees and charges may apply: 

  • account keeping fee ($13.50 per month);
  • domestic cheque drawing ($6.00) and direct credit ($3.20);
  • international bank transfers ($24.00) and international bank drafts ($32.00), excluding any 3rd party transaction and processing fees;
  • investment review fees for developing an investment strategy for the client portfolio. The fee charged is dependent upon the complexity of individual circumstances;
  • depending on the complexity of the matter a fee will be charged for the preparation and lodgment of income tax returns and other taxation services including the establishment of the acquisition details of assets for capital gains tax purposes;
  • fee for conveyancing and other services provided in relation to the sale, purchase or transfer of a property; and/or
  • work of a particularly complex nature not covered above will be charged at an hourly rate.

  Legal Services

  Services provided by our legal practitioners 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.

  More Information

  For more information about our potential out-of-pocket expenses, please download our Out of Pocket Expenses information sheet.

   

  ---

• Financial Administration Fees and Charges

  Here is a list of our financial administration fees and charges

  Emergency Orders

  If the Guardianship and Administration Board makes an emergency order to appoint the Public Trustee as your financial administrator, the following fees apply

  • management fees are to be charged on an hourly rate basis ($120);
  • no capital commission will be taken; and
  • income commissions will be taken in accordance with standard rate.

   A time sheet is kept on file for these matters.

  If an Emergency Order is converted to a Full Order

  • the hourly fees charged to the date of the conversion will be waived; and
  • capital commissions will be taken in accordance with standard rates.

  Permanent Appointment

  From 1 January 2016, if the Guardianship and Administration Board appoints the Public Trustee as a financial administrator, the following fees will be charged:

   For clients with assets under $10,000

  • no capital commission;
  • no monthly account fees; and
  • no income commissions.

   For clients with assets between $10,000 and under $100,000

  • no capital commission;
  • no monthly account fees; and
  • a 2.75% reduced fee is charged on the receipt of all income such as interest, dividends and pensions.

   For clients with assets over $100,000

  • $601.00 one-off establishment fee;
  • when the administration ends, a commission of 2.2% is taken on the current value of the assets which have not been realised during the administration;
  • a fee on any assets realised during the financial administration (e.g. collection of bank account, property sale) is charged at the same rate as administering an estate (see the chart below)

   

  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%

   

  • a $65.00 fee is charged for completing the annual report required by the Guardianship and Administration Board; and
  • a $150.00 fee is charged for completing the 3 yearly review and report required by the Guardianship and Administration Board.

   Income Commission

  • The Public Trustee charges a 6.6% fee on the receipt of all income such as interest, dividends, pensions and rental income (where the Public Trustee is managing the property). The fee is reduced to 2.75% for represented person clients with assets between $10,000 and under $100,000. No fee is charged for clients with assets under $10,000.
  • A 3.3% fee is charged on rental income where the Public Trustee is not managing the property.
  • If income is received from an estate administered by the Public Trustee there is a 3.3% fee.

  Investment Management Fee

  A 1.1% investment management fee may apply to invested funds not directly managed by the Public Trustee.

  The following fees and charges may apply: 

  • account keeping fee ($13.50 per month);
  • domestic cheque drawing ($6.00) and direct credit ($3.20);
  • international bank transfers ($24.00) and international bank drafts ($32.00), excluding any 3rd party transaction and processing fees;
  • investment review fees for developing an investment strategy for the client portfolio. The fee charged is dependent upon the complexity of individual circumstances;
  • depending on the complexity of the matter a fee will be charged for the preparation and lodgment of income tax returns and other taxation services including the establishment of the acquisition details of assets for capital gains tax purposes;
  • fee for conveyancing and other services provided in relation to the sale, purchase or transfer of a property; and/or
  • work of a particularly complex nature not covered above will be charged at an hourly rate.

  Legal Services

  Services provided by our legal practitioners 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.

  ---

• Trusts Fees and Charges

  Acting as trustee of a court awarded trust

  The Public Trustee might be appointed trustee of a court awarded trust, for example:

  • Damages trusts;
  • MAIB Compensation (Minor) trusts;
  • Criminal Injuries Compensation trusts;
  • Workers Compensation trusts;
  • Workers Compensation (Deceased Worker) trusts;
  • Special Disability Trusts; and
  • Unclaimed Monies (received from outside Public Trustee).

  The following capital commission is charged:

  On the first $100,000 or part	2.75%.
  On the next $400,000 or part	2.2%
  On amounts above $500,000	1.1%

  Acting as trustee arising from an estate

  In the case of a trust that arises from an estate, once the estate administration phase is complete, our role changes from executor or administrator to that of trustee. The nature of the administration then changes from an estate to a trust.

  No further capital commission will be charged, however other costs will apply.

  Appointed as a new trustee

  You can request us to act as a new trustee of a trust. The request will be reviewed by our corporate solicitor prior to acceptance of that appointment.

  Capital commissions will be charged on the gross value of any unrealised assets handed over to us by a former executor, administrator or trustee as follows:

  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%

  Capital commissions on realised assets (capital and income) handed over to the Public Trustee by a former executor, administrator or trustee will incur a 2.2% fee. 

  Acting as trustee for a genuine trust

  A ‘genuine trust’ is established during the lifetime of a testator (a person who makes a valid will) for the benefit of a third party. We are then required to administer the Will as executor of the testator’s estate.

  No capital commission will be raised in the original estate, although other costs will apply.

  Other Costs that apply to trusts

  Income Commission

  • The Public Trustee charges a 6.6% fee 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.
  • If income is received from an estate administered by the Public Trustee, there is a 3.3% fee.

  Investment Management Fee

  A 1.1% investment management fee may apply to invested funds not directly managed by the Public Trustee.

  The following fees and charges may apply: 

  • account keeping fee ($13.50 per month);
  • domestic cheque drawing ($6.00) and direct credit ($3.20);
  • international bank transfers ($24.00) and international bank drafts ($32.00), excluding any 3rd party transaction and processing fees;
  • investment review fees for developing an investment strategy for the client portfolio. The fee charged is dependent upon the complexity of individual circumstances;
  • depending on the complexity of the matter a fee will be charged for the preparation and lodgment of income tax returns and other taxation services including the establishment of the acquisition details of assets for capital gains tax purposes;
  • a fee for conveyancing and other services provided in relation to the sale, purchase or transfer of a property; and/or
  • work of a particularly complex nature not covered above will be charged at an hourly rate.

  Legal Services

  Services provided by our legal practitioners 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.

  ---