Fees and charges

 

Introduction

The Public Trustee assists in the personal financial administration of many people who cannot manage this task for themselves. In providing assistance, we recognise that different cultural and lifestyle values create different priorities for people. With our disability service standards, we have made a commitment to involve clients, their carers, family members and other key people in the decision-making processes to ensure that the best results are achieved regarding financial and lifestyle planning issues.

Bringing service providers together creates a balance between the services required of our office, the decisions the client is responsible for and the services provided by the client’s personal support network. Fees charged reflect the level of support and services provided.

 

For our new clients

As part of our commitment to promoting independence and quality of life, one of our tasks is to determine the level of personal financial management service required.

It may take a few months to assess and identify a new client’s ongoing needs. Once this has been done and the level of financial management support that best suits the client’s needs is determined, an appropriate fee is set.

 

Flexibility

If a client’s circumstances alter during the year and they require either more or less support from us, then our fee will be reviewed and adjusted so that it fairly reflects the level of support and services we provide.

 

How is the Public Trustee fee arrived at?

The client’s financial administration needs are carefully assessed. The fee charged by the Public Trustee has two components:

1. Personal financial administration

This reflects the level of support and personal contact required from us. Support activities may include the receipt of income, payment of bills, maintenance of financial records, negotiating with agencies such as Centrelink regarding benefits and day to day administration.

Broadly speaking, the fee that the Public Trustee will charge is determined by where the client lives and how their income is paid. For example, if the client lives in a government funded care facility or hospital and the income is paid directly to that organisation, the amount of contact with us may be quite small and so the fee for services will be minimal.

On the other hand, if the client lives in the community and requires more financial administration assistance, they may need to be in touch with us on a regular basis. In an instance such as this, when the level of assistance provided by us and the frequency of contact is higher, the administration fee is also likely to be higher.

2. Asset management fee

This fee applies when we are responsible for the administration of assets. This may involve the management of cash or investments. Our fee is based on the value of the assets however real estate, personal and household items and motor vehicles are excluded from the calculation of the Asset Management Fee.

 

Other charges which may apply

Realty fee

If the client has real estate, a mobile home or a retirement unit, which are not classified as the client’s principal place of residence, an annual realty fee is charged for each property. This fee applies irrespective of the value of each item.

 

What is classified as a principal place of residence?

A principal place of residence is where the client, their spouse/de facto or financially dependent child permanently resides.

 

Additional services

Occasionally there may be situations where the client requires our assistance to attend to complex financial matters such as dealing with overseas authorities, the purchase or sale of assets outside of Queensland or administering complex assets and liabilities such as a business. For this additional work, our normal hourly charge applies at the prevailing rate.

 

Outlays

These charges relate to specialised work carried out on the client’s behalf. Examples could include professional fees charged by tax agents or financial planners, the cost of any legal actions or any activities necessary in the sale of real estate or other personal possessions. The costs of postage, telephone, photocopying and other associated out of pocket expenses are also payable.

 

Our commitment

The Public Trustee remains committed to a long held philosophy of providing personal financial administration services to clients even if they are not able to meet the full cost of that support. In these circumstances, the Public Trustee will continue to provide administrative assistance.

 

Estimate of cost

Each individual’s situation is personal and unique. However, if you can give us some clear guidelines as to potential planned living arrangements and anticipated needs we will be happy to provide you with an estimate of fees.

 

Further information

Our staff are available to discuss our services in greater detail. You can also call us to answer any questions you may have. Please call toll free on 1300 651 591.

You can also obtain further information on our administrator service, our investment products and our services online.

Last published: 12/09/2016 5:12:57 AM