Fees and Commissions

Professional Fees

In common with other professional service providers, Tasmanian Perpetual Trustees charges fees for providing services. We believe our fees are fair and competitive. All fees and charges are inclusive of GST and are current at date of printing.

Estate Planning

The fee to prepare a new Will or revise an existing Will (where Tasmanian Perpetual Trustees is appointed an Executor):

$88	single person
$132	couple

The above fee will include preparation of a Power of Attorney.

The fee to prepare a new Will or revise an existing Will (where Tasmanian Perpetual Trustees is not appointed the Executor):

$495	single person (basic Will)*
$660	couple (basic Will)*

* If the Will is complex an hourly fee of $275 will apply
A discount of 25% will apply to holders of a Seniors Card.

Estate Administration - Executorship

Tasmanian Perpetual Trustees provides a premium service covering the full range of administrative and legal services usually necessary to complete every aspect of Estate Administration. The fees reflect the expertise and effort required to fulfil legal and associated responsibilities, the personalised nature of our service and the benefits we provide in terms of impartiality, peace of mind and security.

Gross value of the Estate	Maximum flat rate of commission applied to the gross value of the Estate*
Up to $300,000	5.5%
$300,001 to $500,000	4.4%
$500,001 to $1,000,000	3.3%
$1,000,001 to $2,000,000	2.2%
Above $2,000,001	1.1%

* The following assets are NOT counted as part of the Estate and therefore are excluded from capital commission charges:

• assets held as joint tenants (e.g. where the deceased might own a home as “joint tenants” with his or her partner); and
• superannuation and life insurance assets which are not paid to the Estate (e.g. where the policy specifically nominates a beneficiary and the benefit is paid directly to that nominated beneficiary).

Out of Pocket Expenses

To cover incidental and out of pocket expenses incurred during the administration of an Estate, such as postage, photocopying, facsimile and telephone costs, or travelling, a charge of $88 per residuary beneficiary and $44 per legatee, will apply. A fee of $9.90 will also apply for the processing of each Electronic Funds Transfer (EFT) or for the preparation and drawing of a cheque.

Family Beneficial Rate

A Family Beneficial Rate* of 3.3% will apply to the transfer (not sale) of real property for Estates under $1,000,000, otherwise the aforementioned scale of fees will apply.

*The Family Beneficial Rate applies to a spouse (husband, wife or significant relationship as defined by the Relationships Act 2003) and children including adopted children and step children.

Income Collection Fee

For income collected whilst administering the Estate, a fee of 5.5% of the income received will apply.

Ongoing Trust administration

If an ongoing Trust is administered, for example to provide for infant or vulnerable beneficiaries, a Trusteeship fee of 1.1% p.a. is charged on the gross value of Trust assets, from the time the Trust is established and for its duration. This fee will cover the ongoing care, maintenance and administration of the Trust. Depending on the value of the Trust, a fee may be charged to the Trust for specialist investment advice.

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