How much will it cost?
There are three aspects to the cost of setting up a Trust with ENABLE Trustee Service.
Costs
Legal Fees
There will be a fee payable to your solicitor for drawing up your Will and / or your Trust Deed.
Set up fees
When the trust begins an initial investment fee is charged. The initial investment fee is 2.25% of the initial amount invested in the Trust.
Annual management fees
The Trust will be charged an annual management fee of 2.25% of the amount in the Trust each year. If the value of the Trust is more than £200,000 the annual management fee is charged at 2.25% on the first £200,000 and then at 1% on the balance over £200,000.
What do the fees cover?
The fees pay for the day-to-day administration of the Trust, expert investment advice, the preparation of tax returns and dealing with HMRC. All phone calls, letters and meetings with beneficiaries and their families or friends are included in the fee.
We also include the cost of sourcing goods and services for beneficiaries where this is helpful for the beneficiary. For example, we could get quotes for a holiday or check the costs of swimming lessons.