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.” The role of trustee carries significant risk and responsibility.

For trusts designating 25% or more to Covenant ministries, Covenant Trust Company will discount the fee by a percentage equal to the designated Covenant charitable portion, up to a maximum of 50%.

Termination Fee

To recover costs associated with asset and securities re-registration, tax preparation, wire transfers or other incidental expenses, a Base Termination Fee may be assessed upon closure or termination of an account, and shall be collected at the discretion of Covenant Trust Company. Fees in addtion to the Base Termination Fee may be assessed based on the size and holdings of the account, at the discretion of CTC.

If an account is terminated within one year of signing, CTC may add the cost of document preparation advanced at the time the account was established to the Base Termination 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
  • voluntary termination or closure of an account where CTC is acting as trustee or agent

Base Termination Fee......................................................................................$500


Trustee Fee Schedule

  • All trustee fees will be billed quarterly. 
    FEE SCHEDULE
    REVOCABLE LIVING TRUSTS
    [effective January 1, 2012]
    First $1,000,000
    1 percent per year
    Next $2,000,000
    8 tenths of 1 percent per year
    Next $7,000,000
    6 tenths of 1 percent per year
    $10,000,000 and over
    By proposal
  • 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. 

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





Read our complete brochure on Revocable Living Trusts.
 
 
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