Well it’s almost certainly less than you would imagine. A good trust provider will always be honed on protecting the assets of the individual, and will be committed to delivering a custom-fitted service that best suits the circumstances and needs of each client.
When setting up a trust, there are several key fees to consider:
● One-off standard formation fee which covers the drafting of documentation.
● A small deposit is required to activate the trust, but can be as little as just £10.
● An annual trustee fee.
● Fees covering the ongoing costs of running a trust being a minimum annual administration fee and also accountancy fees.
Of course, the most suitable arrangement will differ for each individual, so we offer a standard fees FEES PAGE schedule as a guide only and then provide a fee proposal based upon requirements.
Once you’ve made the decision to set up a trust, the next key factor to consider is who will do this for you? Services can vary between trust providers, so we’ve put together a few important questions to ask as part of your research into potential providers.
● Are there any minimum set up costs?
● Are there any additional compliance fees?
● Are there any hidden fees or other extras?
● Will my accounts be outsourced or managed in-house?
● What kind of clients do you currently work for?
● Do you have experience of managing Trusts with similar requirements?
● Who will be the individuals looking after the Trust?
Finding a provider who really understands your individual requirements is critical, especially when you are building a trust to protect your assets for future generations. And now that Jersey trusts have an infinite lifespan, it’s even more crucial that you feel completely confident that your assets will be looked after in the future.
At Alex Picot Trust, we pride ourselves on our flexibility, our simplicity and our friendly service.
Our history, minimal fees and maximal dedication to the causes of our clients are what make our service second to none. Many of our new customers have come to us through trusted referrals and many of our existing clients are multi-generation, trusting us to continue to manage their trust needs as it passes through the generations.
If you are considering setting up a trust but aren’t sure how to choose the right trust company for you? CONTACT US