Iām trying to ascertain if my yearly trust administration costs are being charged at a fair price. I have only had one property in this trust up until recently and I have been charged somewhere between 2.1K-2.5K per annum for the last 4 years. Not much going on inside the trust and all is very straight forward.
The break down is as follows
Accountant costs = 1K ā standard yearly tax returns and accounts preparation
Lawyer costs = 1K to 1.5K ā standard yearly gifting programme.
Total yearly trust administration = somewhere between 2.1 & 2.5K per year
I appreciate that the administration of these trusts is very important to get right etc but just wondered if I have room to move on cutting these costs, or are they a reflection of average trust admin costs.
Cheers
The break down is as follows
Accountant costs = 1K ā standard yearly tax returns and accounts preparation
Lawyer costs = 1K to 1.5K ā standard yearly gifting programme.
Total yearly trust administration = somewhere between 2.1 & 2.5K per year
I appreciate that the administration of these trusts is very important to get right etc but just wondered if I have room to move on cutting these costs, or are they a reflection of average trust admin costs.
Cheers
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