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R.H. Buchanan Trust Company, Inc.- Fee Schedule
The tables below provide the schedule* of fees for R.H. Buchanan Trust Company, Inc. (“Company”).
Discretionary Trust Fees Summary:
The Company performs all fiduciary activities of the trust. The fair market value of the trust’s assets is used to determine the following administrative fees:
Minimum Annual Fee
$30,000
First $2,000,000
0.60%
Next $3,000,000
0.50%
Next $5,000,000
0.40%
Over $10,000,000
0.30%
Directed Trust Fees Summary:
The Company acts as Administrative Trustee only. The client or another authorized party appoints an Investment Advisor to directly manage the trust’s assets. The fair market value of the trust’s assets is used to determine the following administrative fees:
Minimum Annual Fee
$30,000
First $2,000,000
0.50%
Next $3,000,000
0.40%
Next $5,000,000
0.30%
Over $10,000,000
0.20%
* This schedule lists fees payable only to the Company. Any fees of co-trustees, investment advisors, or other third parties are in addition to the Company’s fees in this schedule and are the client’s responsibility to pay.
Special Needs Trusts / Guardianships / Conservatorship Fee Summary:
The Company performs all fiduciary activities of the trust, guardianship, or conservatorship. The fair market value of the trust’s assets is used to determine the following administrative fees:
Minimum Account
$30,000,000
Minimum Annual Fee
$30,000
First $2,000,000
0.90%
Next $3,000,000
0.78%
Next $5,000,000
0.66%
Over $10,000,000
0.55%
Estate Fees Summary:
The fair market value of the trust’s assets is used to determine the following fees for the Company to serve as administrator, executor, or personal representative of an estate:
Minimum Fee
$30,000
First $1,000,000
4%
Next $3,000,000
3%
Amounts over $4,000,000
2.5%
Additional fees for all accounts:
Fees are invoiced monthly pursuant to the terms of the account agreement, applicable laws, and any additional fee agreement executed by the Company and client. All costs associated with the account (including administrative expenses and attorneys’ fees) will be paid by the client and are not paid by the Company.
The Company charges transaction fees for the following:
• Checks: $25.00/each
• Wires: $50.00/each
• Portfolio Transaction in Custody Accounts: $25.00/each
Tax returns:
Accounts requiring a tax return or tax letter will be charged annually on the following schedule:
• 1041 Federal Return: $1,000.00
• 990/990PF/5227 Federal Return: $2,000.00
• Tax information sent to third party: $400.00
Termination Fee:
We collect a termination fee equal to one year’s annual fee upon termination of a trust account, any distribution of one-third or more of the trust’s value, or transfer of the trust assets upon its removal or resignation.
Initial Account Setup Fee:
An initial fee of $1,500 will be charged for each account created by the Company.
Hourly Rates:
At times, the company may provide services that are not explicitly stated in this schedule but are required for the account. When those services are provided, an additional fee will be charged at the hourly rates below:
Individual Hourly Rate:
Executive Officers: $500.00/hr
Non-executive Officer: $300.00/hr
Non-officer Personnel: $250.00/hr
Modification to Schedule:
This schedule is subject to change and may be modified by the Company upon revision of its regularly published schedule of fees. Such revisions will become effective on the 30th day after the mailing of such notice to the account at the address of record.
Payment of Invoices:
Payments for invoices are due within 30 days of receipt of the invoice.