Executor Fees and Charges
The charges of NSW Trustee and Guardian (formerly Public Trustee NSW) are set by the NSW Parliament. Capital commission is charged on the gross value of all the assets in the sole name of the deceased. Joint assets, such as bank accounts or a house held as joint tenants will not attract commission. Commission is charged on a sliding scale at the rate of:
|
Value of Assets
|
% Fee Payable
(inclusive of GST)
|
|
Up to $100,000
|
4.4
|
|
From $100,001 to $200,000
|
3.3
|
|
From $200,001 to $300,000
|
2.2
|
|
$300,000 and above
|
1.1
|
For instance, fees charged for the following estate values are:
| $500,000 |
= 2.42% |
| $750,000 |
= 1.98% |
| $1,000,000 |
= 1.76% |
In instances where the matrimonial home is held in the sole name of the deceased, or where roll-over monies are held in Approved Deposit Funds and the surviving spouse will inherit, a reduced commission will apply if the value is over $100,000. If the value is less than $100,000 there is a minimum fee of $1,100 or 2.2% of the value (whichever is the lesser)
The minimum charge for administering an estate is $200.00.
We charge an account keeping fee of $11.00 (inclusive GST) per month. For the investigation and lodgement of tax returns a minimum fee of $220 (inclusive GST) up to one hour applies, plus a maximum of $165 (inclusive GST) per hour for extra hours required. There are also out of pocket expenses for photocopying, phones, and postage.
Charges also apply if additional work is required for resolving disputes.
Assets realised are invested in the NSW Trustee and Guardian's Common Fund and earn interest. When it comes to distribution of an estate interest earned from the Common Fund can considerably offset the cost of estate administration.
Who Can I Contact?
If you require further information on our fees and charges please call 1300 364 103 or complete our contact form.