Home About Covenant Trust Fee Schedule--Revocable Living Trusts

Print  |  Email

Fee Schedule--Revocable Living Trusts

Trustee Fee
All trust documents where Covenant Trust Company^® serves as trustee contain language similar to the following which states that Covenant Trust Company is entitled to “reasonable compensation for services in administering and distributing the trust property, and to reimbursement for expenses.”

Where the trust document designates the greater of $15,000 or 25% of the residue remaining in any revocable living trust after the death of the last surviving income beneficiary for one or more Covenant ministries of the grantor’s choice,and all grantors/income beneficiaries are age 60 or over, Covenant Trust Company may elect to waive the trustee fee during the grantor's lifetime.

You will notice that our fees are on the more reasonable end of industry averages.  We intentionally price our services this way to ensure all who are interested can take advantage of our high quality, professional trustee and investment
management services.

Revocation Fee
Covenant Trust Company charges a fee in situations where it is acting as trustee in the event of:

• the revocation of a revocable living trust
  
• the removal of Covenant Trust Company as trustee
  
• the amendment of a revocable living trust which results in the trust no longer meeting Covenant Trust Company's criteria for serving as trustee

• All trustee fees will be billed quarterly. 

• There may be a per-transaction fee for special services such as electronic wiring of funds to a bank.
  

• Trustee fees will be charged only for the period where Covenant Trust Company served as trustee. 
  

• The president of Covenant Trust Company may waive any trustee fee on a Revocable Living Trust. The President of Covenant Trust Company and/or the Administration Committee are authorized to waive the revocation fee on a Revocable Living Trust.
  

• Covenant Trust Company reserves the right to change stated fee schedule at any time.