21Fees for estate administration—the Act, s 111

21 Fees for estate administration—the Act, s 111

21 Fees for estate administration—the Act, s 111

(1) This clause applies to an estate for which NSW Trustee acts as executor or administrator, either solely or jointly with another person.

(2) NSW Trustee may charge to the estate a fee for the administration of the estate that is—

(a) payable once only in relation to the assets of the estate, and

(b) calculated as follows, based on the value of the assets—

(i) 4% on the first $300,000,

(ii) 3.5% on the next $300,000,

(iii) 2.5% on the next $150,000,

(iv) 1.5% on an amount over $750,000.

(3) For subclause (2), if the fee calculated is less than 5 fee units, NSW Trustee may instead charge a minimum fee of 5 fee units.

(4) NSW Trustee may also charge to an estate a fee that is—

(a) payable from the gross income to which the fee applies, and

(b) calculated as—

(i) 2.5% of rental income collected by a real estate agent for the estate, if the real estate agent has charged a fee for the collection, and

(ii) 5.25% of other income.

cl 21: Subst 2025 (124), Sch 1[11].