12Fees to administer estate

12 Fees to administer estate

12 Fees to administer estate

(1) This section applies when the NSW Trustee acts as an executor or administrator of an estate.

(2) The NSW Trustee may charge the estate the following administration fees—

(a) a fee, payable once, based on the total value of the assets of the estate and calculated as follows—

(i) on the first $300,000—4%,

(ii) on the next $300,000—3.5%,

(iii) on the next $150,000—2.5%,

(iv) on an amount over $750,000—1.5%,

(b) a fee, for—

(i) rental income collected by a real estate agent who charges a fee for the collection—2.5% of the gross income, and

(ii) other income—5.25% of the gross income.

(3) If the fee calculated under subsection (2)(a) is less than 5 fee units, the NSW Trustee may instead charge a fee of 5 fee units.