14Fees for direct management—the Act, s 111(2)

14 Fees for direct management—the Act, s 111(2)

14 Fees for direct management—the Act, s 111(2)

(1) This section applies when the NSW Trustee manages the estate, or part of the estate, of a managed person.

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

(a) a fee, payable once, of no more than 30 fee units, calculated at 1% of the value of the estate, to establish the account for the managed person,

(b) an annual fee of no more than 200 fee units, calculated at 1.4% of the value of the estate.

(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.