Trust, Employee Benefit and Agency Services -
Schedule of Fees
Austin Trust Company is an independent, locally owned, trust company chartered by the Texas Department of Banking. Austin Trust Company was founded on the principle of providing professional and personal service to its clients.
Trust and Employee Benefit Services:
| Annual Management Fee | Market Value of Assets |
| 1.10% on the first | $1,000,000 |
| .75 of 1% on the next | $1,000,000 |
| .60 of 1% on the next | $1,000,000 |
| .50 of 1% on the next | $1,000,000 |
| .40 of 1% on the next | $2,000,000 |
| .30 of 1% over | $6,000,000 |
Austin Trust Company serves as trustee or custodian of all types of employee benefit plans including qualified and non-qualified pension and profit sharing plans, Simplified Employer Plans (SEPs), 401(k)s, and IRAs.
Agency Services
| Annual Management Fee | Market Value of Assets |
| 1.00% on the first | $1,000,000 |
| .75 of 1% on the next | $1,000,000 |
| .60 of 1% on the next | $1,000,000 |
| .40 of 1% on the next | $1,000,000 |
| .30 of 1% on over | $4,000,000 |
Special Needs Trust Services
Special Needs Trusts are designed to allow those living with a disability to receive assets in a trust while maintaining eligibility for federal, state and local benefit programs.
| Annual Management Fee | Market Value of Assets |
| 1.30% on the first | $1,000,000 |
| .95 of 1% on the next | $1,000,000 |
| .80 of 1% on the next | $1,000,000 |
| .70 of 1% on the next | $1,000,000 |
| .60 of 1% on the next | $2,000,000 |
| .50 of 1% over | $6,000,000 |
Qualified Settlement Funds
Escrow Agent for a Qualified Settlement Fund 25 basis points
If the Fund is a result of a class-action lawsuit, additional charges may apply and will be negotiated on a case by case basis.
Minimum Fees
| Agency | $1,500 annually |
| Trust/Escrow/Qualified Settlement Fund | $2,500 annually |
| 1031 Exchange Asset Custody Money market funds only |
$1,250 per 6-month term |
| Money market and other assets | $2,000 per 6-month term |
| Employee Benefit Accounts | $1,000 annually |
Special Services and Expenses
In addition to the fees outlined above, the following fees will be charged:
- $16 transaction charge for the trade of securities or mutual funds (does not include brokerage commissions).
- $20 per asset outgoing transfer fee.
- $250 termination fee.
- Miscellaneous charges: postage, certified mail, courier service, photocopies, long-distance telephone calls, wire fees and similar expenses.
Estate Administration Schedule Of Fees
Austin Trust Company has the expertise and personnel to effectively administer the most complex estates. We are able to serve as executor, co-executor, and administrator or as agent for an individual serving in these capacities. As executor, administrator, or agent, Austin Trust Company works to gather the assets of the decedent, pay outstanding debts and bills, file necessary tax returns and distribute the assets in accordance with the terms of the Will.
Estate Administration Fees
Fees charged for estate administration services are determined in accordance with the Will and applicable state law. We base our fees on the complexity and time associated with the estate administration, not the market value of the estate.
Life Insurance Trust Fee Schedule
The standard annual base fee for a life insurance trust is $2,500.00. This fee includes setting up the account and policy on our trust system, annual due diligence, and up to four Crummey letters per year to the beneficiaries.
- There is a holding fee for additional insurance policies of $500.00 per year, per policy.
- There is a fee of $50.00 assessed to substitute policies or sell a policy from an account.
- There is a $25.00 expense per Crummey letter annually in excess of the four letters per year provided for in the annual base fee.
Extraordinary expenses such as courier, postage, certified mail, copying, Crummey letters and long-distance telephone charges will be passed through to the account monthly.
Variable life insurance policies may be subject to investment management fees.
Special Assets Fee Schedule
Real Estate Services
- $50 one time setup fee for each property
- $200 annual maintenance fee covering the annual review of the asset, ad valorem tax payments, appropriate inspections and assessing and maintaining insurance coverage
- Real property will be charged a fee based on market value. The fee will vary depending on the type of property and the duties to be performed
- 6% commission on the unassisted sale of real estate held in trust. If assisted by a broker, we will charge a fee based on the amount of time required by the account administrator and support staff at their hourly rate
Note and Mortgage Servicing
- $50 set up fee
- $150 annual servicing fee. Austin Trust Company will not be responsible for collection of notes in default that are held in non-discretionary, agency or custody accounts
- Notes will also be subject to our usual and customary market value fee
Mineral Interests
- Mineral interests will be setup in an active account at no charge.
- Producing properties, oil and gas lease negotiations, and any income received from mineral interests will be charged 5% of gross receipts
Annuities
Austin Trust Company does not normally purchase annuities as a part of an investment program. They are sometimes received, however, in established trusts when Austin Trust Company serves as Successor Trustee. Austin Trust Company may continue to hold annuity assets as a courtesy to our clients. We are not and expressly do not hold ourselves out as experts on annuities. Austin Trust Company makes no representations concerning the financial strength or claims paying ability of the insurance company issuing the annuity. Annuities may be subject to fees, surrender charges, and holding periods beyond the control of Austin Trust Company and which may vary per the terms and conditions of the policy and of the issuing company.