Trustee Fees
NOTE: This page
describes how the Center calculates fees, but does
not quote specific numbers or amounts. To ensure
that you have the most current and accurate fees, please
call 1-877-766-5331 for a quick and hassle free quote.
Annual Fee
The Center charges an annual fee that is both
attractive an competitive. However, it does not impose
any minimum annual fee, nor does it impose any minimum
deposits requirements.
Annual Trustee fees are charged against the value of
the trust corpus, and this fee covers standard fiduciary
and administrative services, custodial services, cash
flow management, processing disbursement requests, and
monitoring of public assistance benefits.
In circumstances where income is assigned to,
and/or deposited in, the Beneficiary’s sub-account,
the annual projected income is typically included when
valuing the sub-account and calculating the annual
fee.
In circumstances where periodic payments from a
structured settlement are assigned to, and/or
deposited in, the Beneficiary’s sub-account, the
present value of the underlying qualified funding
asset will be used when valuing the sub-account and
calculating the annual fee.
Administrative Fee
A one-time administrative fee is charged for
initially processing and setting up a new account.
Additional Costs
Additional costs may be charged as additional
services become necessary or advisable. Some examples of
additional costs include costs for asset management
fees; professional fees for attorneys, guardians, and
care managers; real estate management; supplementary
administrative services; and, termination fees.
Extraordinary Services
The Center reserves the right to charge for unusual
or extraordinary services. In the event any charges are
incurred for unusual or extraordinary services, the
Center will provide notice to the Beneficiary or the
Beneficiary’s representative. In circumstances where
an annual trust accounting is due within sixty days of
the services being charged, the annual accounting serves
as notice of the charges. In circumstances where an
interim accounting or a statement of account has been
provided to the Beneficiary or the Beneficiary’s
representative, such accounting or statement serves as
notice of the unusual or extraordinary charges.
THE
CENTER
FOR
SPECIAL
NEEDS
TRUST
ADMINISTRATION,
INC.
4912 Creekside Drive
Clearwater, FL 33760
No material on
this website may be reproduced without prior written
permission. Copyright 2002.
E-mail
Questions to:
contact@sntcenter.org
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The
Cost of Protection
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In
selecting
a
special
needs
trustee,
it
is
important
to
understand
the
true
cost
of
protecting
public
assistance
eligibility.
Since
banks
and
traditional
trust
departments
do
not
typically
maintain
staff
who
understand
the
complex
rules
governing
public
assistance
eligibility,
they
must
hire
an
agent.
Because
the
cost
of
this
agent
will
generally
be
paid
as
an
administrative
expense,
the
trustee
fee
quoted
can
be
an
artificially
low
number
for
the
true
cost.
By
contrast,
the
Center's
annual
fee
always
includes
this
important
protection
without
hiding
the
true
cost
to
the
trust
beneficiary.
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