A schedule for a trust's fees delineates the amount charged by a financial institution annually for the administration of a trust, as stated by Trust Advisor. The schedule details the fee charged for a minimum amount and per each million after that in the amount of the trust. While some financial entities have trust amount minimums of as little as $100, other institution's minimums are as high as $5 million, and the fees correspond to these amounts.Continue Reading
A comparison of fee schedules of a group of financial entities that offer administrative services for a trust shows that a more realistic minimum at the lower end of the fee schedule is $3,000 annually, according to Trust Advisor. Those with higher minimums for trust amounts can go as high as a minimum of $20,000 a year for administrative fees.
Such a minimum fee, however, is comparable by rate to the amount of the trust, about 0.40 percent, to those charged by what are considered more bare-bones trust administrators, reports Trust Advisor. By concentrating on high-end clients, they can afford to bring the rate down on the opposite end of the fee schedule to 0.20 percent for any million above the minimum on the trust. Although trust fees are considered to be low as of 2015, further technological developments may allow financial institutions to adjust their fee schedules and bring them lower.Learn more about Investing