Schedule of Fees for Trust, Individual Retirement and Personal Investment Accounts Services
Austin Trust Company serves as Trustee or Agent for the Trustee for various types of trusts and as Trustee or Custodian for various types of individual retirement accounts.
Trust and Individual Retirement Accounts (Trusts and IRAs):
| Annual Management Fee | Market Value of Assets |
| 1.30% on the first | $1,000,000 |
| .90% on the next | $1,000,000 |
| .80% on the next | $1,000,000 |
| .70% on the next | $1,000,000 |
| .60% on the next | $2,000,000 |
| .50% over | $6,000,000 |
Personal Investment Accounts (Agency Services):
| Annual Management Fee | Market Value of Assets |
| 1.10% on the first | $1,000,000 |
| .90% on the next | $1,000,000 |
| .80% on the next | $1,000,000 |
| .70% on the next | $1,000,000 |
| .60% on the next | $2,000,000 |
| .50% over | $6,000,000 |
Special Needs Trust (SNT 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% on the next | $1,000,000 |
| .80% on the next | $1,000,000 |
| .70% on the next | $1,000,000 |
| .60% on the next | $2,000,000 |
| .50% over | $6,000,000 |
Other Services
Escrow:
The annual fee to serve as an Escrow Agent is $2,500.
Life Insurance Trust Fee Schedule:
The annual fee for a Life Insurance Trust is $3,000.
Estate Administration Fee Schedule:
Austin Trust Company has the expertise to effectively administer complex estates. While serving as Executor, Co-Executor, Administrator or as Agent for an individual serving in these capacities, we work to gather the assets of the Decedent, settle outstanding debts, file necessary tax returns, and distribute the assets in accordance with the terms of the Decedent’s Last Will.
Our fees are computed at 2.25% of the Decedent’s gross estate at the date of death including both assets held at Austin Trust and some assets held outside. Any funds held at Austin Trust prior to death will receive a 10% discount. Any non-probate assets (such as payable on death or beneficiary designated accounts) will be excluded from the 2.25% and will be charged .75%. Some additional fees may apply.
Minimum Fees:
| Agency/Trust/Individual Retirement Accounts (IRA) | $2,500 annually |
| Special Needs Trust: | $5,000 annually |
| Estate Administration: | $5,000 annually |
Special Services and Expenses:
In addition to the fees outlined above, Austin Trust Company reserves the right to charge
the following fees and expenses:
- Hourly extraordinary service charges when necessary to manage an account
- $1,000 account closing fee
- Expenses paid by Austin Trust Company on behalf of a client will be charged to the client’s account
Special Asset Fee Schedule
Real Estate Services:
- $50.00 one-time setup fee for each property
- $500.00 annual asset maintenance holding fee covering review, property (ad valorem) tax payments, and assessing and maintaining insurance coverage.
- Real property will be charged a fee based on market value. The fee will vary depending on the property and the duties to be performed.
Discretionary Non-Rental
| Annual Management Fee | Market Value of Assets |
| 1.10% on the first | $1,000,000 |
| .75% on the next | $1,000,000 |
| .60% on the next | $3,000,000 |
| .50% over | $5,000,000 |
Non-Discretionary Non-Rental
| Annual Management Fee | Market Value of Assets |
| 1.00% on the first | $1,000,000 |
| .75% on the next | $1,000,000 |
| .60% on the next | $3,000,000 |
| .50% over | $5,000,000 |
Discretionary — Rental
| Annual Management Fee | Market Value of Assets |
| 1.35% on the first | $1,000,000 |
| 1.00% on the next | $1,000,000 |
| .85% on the next | $3,000,000 |
| .75% over | $5,000,000 |
Non-Discretionary — Rental
| Annual Management Fee | Market Value of Assets |
| 1.25% on the first | $1,000,000 |
| 1.00% on the next | $1,000,000 |
| .85% on the next | $3,000,000 |
| .75% over | $5,000,000 |
Note and Mortgage Servicing:
- $50 one-time set up fee.
- $250 annual service fee in addition to our usual and customary market value
*Austin Trust Company will not be responsible for the collection of notes in default that are held in non-discretionary, agency, or custody accounts.*
Oil, Gas, and Mineral Services:
- Mineral interests will be set up in an active account at no charge.
- Producing properties will be charged 5% of gross receipts.
Other Special Assets:
Additional information can be provided upon request.