PERSONAL TRUSTEE FEE SCHEDULE

Transcription

1 PERSONAL TRUSTEE FEE SCHEDULE

2 SERVICES FOR PERSONAL & CHARITABLE TRUST AND FOUNDATIONS The following Schedule of Trustee Fees shall be applicable to Personal Trusts and Charitable Trusts refrerred by individuals through their INVEST Trust Services Trust Relationship Manager to National Advisors Trust Company: When a referral is approved by the trust company and it agrees to serve as a trustee of a personal trust or charitable trust account, the trust company will: Collect and distribute income Safeguard trust assets Supervise the management of trust assets, including the activities of Curian Capital LLC as the investment manager appointed by the trust company Settle security trades and process asset purchase or sales as directed by the investment manager Provide record keeping of all applicable assets and account transactions Provide bill payment servies at an additional cost Produce and review required tax reporting Provide for the administration and disposition of trust assests as directed by the governing document PERSONAL & CHARITABLE TRUST AND FOUNDATION CHARGES Trust Services Fees for personal trust and charitable trust administration are annual rates, based on the trust account s asset value, and will be charged pro rata on a monthly basis in arrears. Annual Rate 1.35% 1.15% 1.00% Minimum Fee Applied To $0 to $3,000,000 $3,000,001 to $5,000,000 $5,000,0001 and Over The Annual Minimum Fee is $6,000 5/28/2009 Personal & Charitable Trust Fee Schedule Page 2

3 Minimum Annual Fee and Tax Return Preparation The minimum annual asset value charge per trust account, will be charged monthly in arrears. Charges for tax return preparation for personal and charitable trusts will be assessed directly against the account requiring such services COMPENSATION FOR CO-TRUSTEE National Advisors Trust Company s compensation is the same when serving as sole trustee or Co-Trustee. In the absence of a specific agreement, an additional fee equal to one-half of that charged by National Advisors Trust Company will be allocated among the individual Co-Trustees. THIRD PARTY CHARGES FOR REQUIRED SERVICES National Advisors Trust may employ the services of attorneys, accountants, third party pension administrators, appraisers, and investment manager(s) for discretionary trust accounts, or other professional services as may be required for the proper administration of specific fiduciary accounts. The professional fees for these third parties may be assessed directly to the account requiring such services. CASH MANAGEMENT FEES For its services in providing daily management of any uninvested cash, National Advisors Trust Company will retain shareholder-servicing fees paid to National Advisors Trust Company by the money market fund distributor. The cash management fee will be.25 of 1% of the average daily cash balance for taxable money market funds and.10 of 1% of the average daily cash balance for taxexempt mney market funds. CASH DISTRIBUTION CHARGES One distribution will be provided in any calendar month without additional charge. Cash distributions above one per month will be charged at the rate of $10 per distribution. Such distributions are normally made by ACH transfer or by check. If 5/28/2009 Personal and Charitable Trust Fee Schedule Page 3

4 a distribution request requires a wire transfer of funds, a wire charge will be assessed to the applicable account as an additional cost. FIDUCIARY INCOME TAX, GIFT TAX, ESTATE TAX, OR INHERITANCE TAX RETURNS If National Advisors Trust Company is required to supervise the preparation of any federal or state fiduciary income tax returns, gift or estate tax returns, or other governmental filings related to the activities of the grantor or the trust, National Advisors Trust Company will contract for the services of qualified independent accountants or attorneys to prepare required tax returns for filing. The actual costs of preparaton of such tax returns will be assessed as an additional charge to the applicable trust account. SPECIAL SERVICES AND FEES Separate charges will be made based on the reasonable value of special services as follows: In addition to the asset value fee, real estate held in trust will be subject to an annual charge of $ for each parcel. This charge is for holding legal title only, and anticipates that National Advisors Trust Company will not have the management responsibility for the property. In the event that National Advisors Trust Company is required to become involved in any real estate related activities other than holding title, then additional charges may be assessed based upon the reasonable value of the services provided. Extended negotiations involving the sale of major assets or unusual servicing requirements relative to their care, retention, or disposition. Substantial activity regarding distribution requests and/or extensive bill payment activity. The exercise of fiduciary discretionary powers for the distribution of income and/or principal when more than usual responsibility is assumed. Activities related notes and mortgages based on the duties and responsibilities involved. When National Advisors Trust Company serves as trustee of a revocable trust for a grantor prior to the grantor s death, or becomes a trustee of a revocable trust at the death of the grantor, and is required to render substantial assistance to the 5/28/2009 Personal and Charitable Trust Fee Schedule Page 4

5 grantor s estate beyond the ordinary scope of the trustee s duties, a charge will be made on the reasonable value of the services rendered. Charges for special services will be quoted on request and are based upon the reasonable value of the duties and responsibilities of such services. Fees for special services will be payable monthly by direct charge to the income or principal of the account in accordance with the provisions of the governing instrument or applicable law. IRREVOCABLE LIFE INSURANCE TRUSTS In irrevocable trusts where interests in life insurance owned by the trustee are the primary asset(s), trustee s annual compensation shall consist of an administrative charge of $1, for one insurance policy per trust account, plus a charge of $ per year for each additional insurance policy. Premium payments in excess of one per year per policy will be charged at $10 per premium payment. This charge anticipates that National Advisors Trust will be legally relieved of responsibility for investment management or other discretionary activities related to the insurance product(s) held in the trust. In the event the trust agreement calls for National Advisors Trust Company to maintain separate accounts to hold fractional interests of life insurance policy(ies), additonal fees will apply. There is no distribution charge on the life insurance contract s death benefits maintained in the trust account as long as National Advisors Trust Company continues to serve as trustee. Description Setup charge Annual Charge Annual Charge Distribuiton Charge $ per ILIT $1,600 for one insurance policy - $150 for additional $25 for each additional Gift Notification Letter over 4.05% of distributon 5/28/2009 Personal and Charitable Trust Fee Schedule Page 5

6 There is an additional charge of $25.00 for each additional Gift Notification Letter over the 4 that are included in the annual charge. National Advisors Trust Company fees for irrevocable life insurance services are payable annually, in advance of the trustee s services. Cash Management National Advisors Trust Company receives an administrative fee from the trust account s money market fund. Upon the death of the insured, the trust is thereafter considered a Personal Trust for purposes of trustee compensation and duties. Services Provided Due diligence on the life insurcance company Oversee insurance application proccess Apply for Tax Identification Number Safekeeping of insurance policy(ies) Annual accounting and annual statements Faciliate the receipt of annual contributions Send & process Gift Notification Letters to trust beneficairies Pay annual insurance contract premiums Beneficiary distributions Cash Management 5/28/2009 Personal and Charitable Trust Fee Schedule Page 6