How can I make the most of my Estate?
How can the beneficiaries of an estate get more from the estate? Make sure that the cost of applying for Probate & the distribution of the estate is not based on the value of estate.
It isn’t fair that an estate should be charged more to apply for a grant of Probate & distribute an estate simply because the estate is worth more. At Balance Estate Management & Planning we agree and it is the reason that we charge a flat fee for the application for the Grant of Probate and the distribution of the estate.
Even the Supreme court charges the filing fees, based on the value of the estate.
The NSW Trustee & Guardian charges a fee based on the value of the assets in the estate (ad valorem) plus disbursements ie;
| Value of the Estate | Rate which NSW Trustee & Guardian Charges |
|---|---|
| The 1st $100,000 | 4.00% |
| The 2nd $100,000 | 3.85% |
| The 3rd $100,000 | 2.75% |
| Everything after | 1.65% |
The fees charged for applying for the grant of Probate and distribution of the estate are as follows;
| Value of the Estate | Cost for Probate by NSW Trustee & Guardian | Cost for Probate by Balance Estate Management & Planning | Saving to the Beneficiaries |
|---|---|---|---|
| $1,000,000.00 | $20,550.00 | $4,150.00 | $16,400.00 |
| $1,500,000.00 | $30,800.00 | $4,150.00 | $26,650.00 |
| $2,000,000.00 | $39,050.00 | $4,150.00 | $34,900.00 |
| $2,500,000.00 | $47,300.00 | $4,150.00 | $43,150.00 |
NB Disbursements are charged on top of the fees charged (Disbursements are the costs of the NSW Supreme court filing fees, advertising costs etc).
If you or someone you know is the executor of an estate & would like to ensure that the beneficiaries of the estate get more from the estate, it won’t cost you anything to call Morgan on 1300 556 287 for an obligation free chat about how we can help & what you can do. Don’t wait until the person dies or gets dementia (it might be too late – if the NSW Trustee & Guardian have already been nominated)
