Trust Services Covered Under the Present Fee Schedule
- Make investments
- Deposit income
- Disburse income
- Do quarterly and annual accountings
- Figure fees
- Preparation of tax material for CPAs
- Attorneys
Guardianship
- $50.00 initial set up fee.
- 5% of income and $3.00 per $1,000.00 of Assets Annually
Life Insurance Trusts
- $500.00 per year plus postage.
- New Insurance Trust Accounts:
- $500.00 with account relationship**
- $1,000.00 without account relationship
Each additional policy added to account at $100.00 each policy
If the trustee is to distribute the proceeds of the policy/policies because of the death of the grantor/insured then a charge of 1% of the first $100,000.00 and 1/2 of the 1% of the remainder of the policy proceeds shall be made subject to a $1,000.00 minimum
Any policy exchanges, obtaining a loan against the policy or exercise of conversion privileges there will be an additional $500.00 charge
**means maintaining an average account balance of $1,000.00 or more
Land Trust
- $50.00 First $100M and 25 cents per 1000 over $100M
Living Trust Trust Under Agreement
- 5% of income $3.00 per $1,000.00 of assets annually with 1/12 taken monthly
Trustee Under Pension And Profit-sharing Plans
- 5% of income and $3.00 per $1,000.00 of assets annually
Trustee Under Will
- 5% of income and $3.00 per $1,000.00 assets annually
Minimum Fee
- $500.00 Per Year On All Trusts, minimum fee will only be applied to market value, the 5% of income will still apply in addition to market value
- Closing fee of one quarter annual charge, not to exceed one quarter fee in any one quarter, with a minimum of $500.00
Conservators By VA Appointment
- 6% of income only, annually, per letter from VA dated 4/2/75 An initial opening fee of $50.00
Executor and Administrator Estate Fees
Please contact a trust officer for pricing
Extra Services
Each accounting over one per quarter $10.00 each $2.00 per check (extra service we have experienced, but not limited to these and these only)
- Utilities
- Insurance
- Meals on Wheels
- Prescriptions
- Doctors
- Rent
- Building maintenance
- Nursing Home
- Monthly fees
- Yard work
- Clean up
- Dog Care
- Purchases of miscellaneous items
- Payroll
- $5.00 per person per pay
Escrow
- Initial $100.00 set up fee, first 5 year holding fee $100.00, for total of $200.00
- $50.00 for each 5 year period
- $150.00 a year to collect payments and remit to sellers
Fiscal Agent
- $500.00 per year for each issue of Bonds for Administration
- .20 cents per coupon for paying coupon
- .20 cents per coupon for cremating coupon
- 2.50 per bond for paying bond
- .25 cents per bond for cremating bond
Where a Trust is either terminated or transferred in whole or in part, requiring distribution of assets to someone other than the bank the following fees will apply:
- During the 1st year – 1% market value assets
- During the 2nd year – .75% market value assets
- During the 3rd year – .50% market value assets
- After 3rd year – time spent
- Minimum termination fee of $500
Miscellaneous Extra’s
- $75.00 Per hour by Trust Staff
- $100.00 Per Hour by Assistant Trust Officer (some miscellaneous we have experienced, but not limited to these and these only)
- $150.00 Per Hour by Trust Officer (some miscellaneous we have experienced, but not limited to these and these only)
- Obtaining estimates for siding, furnaces, care repair, etc.
- Medicare (doing copies of explanation of benefits, cover letter to insurance companies, envelope,
- postage)
- Time to make purchases
- Visits to nursing home
- Show property
- Phone conferences
- Cemetery flowers
- Reporting interest paid on mortgages