Executor Fees and Charges
NSW Trustee & Guardian fees for executor (deceased estate administration) services include both work done to obtain a grant of probate or administration, and the work to administer and distribute the estate. The fee is based on the value of solely owned assets in the estate. Joint assets such as bank accounts or a house will not attract a fee. Fees are set out in the following table:
Executor Fees (incl. GST)
| One-off executor fee |
Based on asset values:
4.4% on the first $100,000
3.85% on the second $100,000
2.75% on the third $100,000
1.65% any amounts over $300,000
Minimum fee of $220
|
| Estate management |
0.77% per year on value of assets held |
| Account keeping |
$132 per year |
| Investment |
0.11% per year of value of assets invested in NSW Trustee & Guardian investment funds |
Additional fees may apply including: fees for the investigation and lodgement of tax returns, a fee to cover the legal work involved for transferring property to surviving joint tenants.
If your solely owned assets are a family home or a rollover of superannuation inherited by your spouse/partner the executor fee will be reduced to 1.1% if the value of the family home or superannuation is over $100,000. If the value is less than $100,000 there is a minimum fee of $1,100 (incl. GST) or 2.2% of the value (whichever is the lesser). No executor fee is charged on assets owned as joint tenants. A fee of $330 (incl. GST) plus out of pocket expenses is necessary to cover the legal work involved for transferring property to surviving joint tenants.
For the investigation and lodgement of tax returns a minimum fee of $275 (incl. GST) up to one hour applies, plus up to maximum $220 (incl. GST) per hour for extra hours required. All money received from an estate, trust or Power of Attorney is held in an account called the NSW Trustee & Guardian Common Fund, and earns interest calculated on daily balances which is credited to accounts in June and December each year.