Schedule of Fees
Fees
At True Fiduciary Service, we strive to maintain clear and transparent billing practices. As a fiduciary, we have a legal duty to act in the best interests of the client, trust, or estate we serve while maintaining careful records and accountability throughout the administration process.
An initial consultation will be offered at no charge. Ongoing fiduciary services are billed according to the fee structure described below.
Onboarding Fee
When True Fiduciary Service is first engaged to serve in a fiduciary role (such as trustee, successor trustee, or agent under power of attorney), a $500 onboarding fee is charged.
This fee covers the time required to:
- Review governing documents
- Establish the administrative file
- Gather preliminary information regarding assets and responsibilities
- Prepare the matter for active administration
Hourly Rates
Many fiduciary matters are billed on an hourly basis. The rate depends on the type of work being performed.
Case Management — $165 per hour
Case management services may include:
- Trust and estate administration
- Communication with clients, beneficiaries, and advisors
- Coordination with attorneys, accountants, real estate professionals, and other service providers
- Oversight of financial accounts and assets
- Property management and oversight
- Meetings, calls, and correspondence related to fiduciary duties
- Preparation and review of reports or accountings
- Travel related to administration
Administrative Services — $120 per hour
Administrative services may include:
- Bookkeeping and financial recordkeeping
- Account reconciliation
- Bill payment and routine financial transactions
- Preparation of routine correspondence and documentation
- Billing and accounting support
- File organization and administrative coordination
Percentage-Based Fiduciary Fees
Depending on the size and complexity of the estate or trust, fiduciary services may be billed either on an hourly basis or as a percentage of assets under management. The appropriate billing method is determined at the beginning of the engagement.
When compensation is based on a percentage of assets under management, the following schedule may apply:
- 1% of the first $2,000,000
- 0.5% of the next $3,000,000
- 0.25% of additional assets under management
Other Services
In some situations, True Fiduciary Service may coordinate or arrange additional services that support the care or management needs of a client or property. These services may include assistance such as:
- Drivers or transportation support
- Housekeeping or household coordination
- Assistance in coordinating care providers or other support services
Fees for these services vary depending on the scope and nature of the work required and will be discussed in advance.
True Fiduciary Service does not provide licensed medical or home-care services directly but may assist in coordinating appropriate providers when needed.
Billing Practices
- Time is recorded in six-minute increments (0.1 hour).
- Invoices include the date of service, description of work performed, and time spent.
- Invoices are typically issued monthly during the administration process.
- Payment is expected upon receipt unless other arrangements have been made.
True Fiduciary Service maintains detailed records of services performed in order to provide accurate and transparent billing.