Does the Public Trustee deduct its fee before paying out the estate monies to the beneficiaries?
Yes, the administration fee, mandated by law, is deducted from the deceased's estate monies before the distribution is made.
The fees chargeable under the Public Trustee (Fees) Rules 2010 for the administration of estate are:
Value of Estate | Charge |
For the first $5,000 | 6.50% |
For the next $2,000 | 6.00% |
For the next $3,000 | 4.25% |
For the next $10,000 | 2.75% |
For the next $30,000 | 2.25% |
The fees include GST and cannot be waived. A minimum fee of $15 is chargeable.
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