More Victorians will have access to State Trustees’ legal and financial services, with the organisation today announcing a range of price reductions across different products.
The new fee reduction will apply to all current and future clients of Powers of Attorney and Personal Financial Administration services, and all new beneficiaries of Deceased Estates from 1 July 2018.
State Trustees worked with VCAT to develop a new pricing structure that will provide increased value to clients whilst remaining competitive in the market and financially sustainable.
For Personal Financial Administration and Attorneyship clients, Capital Commission will be reduced through a sliding scale. For Deceased Estates, the Capital Commission will also be reduced and a new, variable Service Fee will be introduced based on the effort required to administer the Estate.
The new fee structure is aligned with State Trustees’ Public Benefit Strategy, which focusses on putting clients first and delivering increased value to the Victorian community.
Quotes attributable to Acting Treasurer Robin Scott
“The reduction of fees for some of the State Trustees’ key services will help reduce the pressures facing many of their clients and deliver savings to Victorians.”
Reviewed 19 August 2020