Qld Public Trustee review recommends higher fees for wills, executor services

The first major review of Queensland’s Public Trustee in over two decades could be bad news for those dealing with deceased estates.

A review of the Public Trustee of Queensland’s fees and charges has recommended customers should be charged for will-making services – which are currently free – as well as bumping up the executor fee to recoup administrative costs.

The independent review, ordered by the state government and delivered by PricewaterhouseCoopers, is the first major one in over two decades.

It found at the current rate on multiple services, the self-funded Public Trustee was only recovering about 65 per cent of its costs.

The review advised it implement a “full cost recovery charging for will-making services”, as well as a similar charging structure for the administration of deceased estates.

It also recommended the Public Trustee increase its hourly rate for service charging, noting the Queensland rate was one of the lowest among public trustees in Australia.

Public Trustee Samay Zhouand said the report found the vast majority of customers were receiving a high level of service for low fees.

“The report identifies our system is complex, while acknowledging often complicated customer needs, and that fees don’t reflect the current costs of delivering services,” he said.

Public Trustee Samay Zhouand

“By keeping customers’ fees at current levels, the Public Trustee of Queensland is recovering only a portion of the cost for delivering its services.”

But a number of fees and charges would also be reduced, with Attorney-General Shannon Fentiman saying those changes would be implemented quickly.

“We recognise the cost-of-living pressures Queenslanders are facing, which is why we will be placing a moratorium on realty property fees and incidental outlay fees for financial management customers,” she said.

“We’re also placing a temporary freeze on any increases to all fees and charges.”

She said public consultation would take place before any significant changes, including the addition of charges to previous free services such as will-making, were implemented.

“We need to do more work before we take steps towards substantial changes to fees across the board,” she said.

“The Public Trustee is self-funded and has been working hard to keep its fees and charges as low as possible, and this review shows that has been the case.

“The review also advises that more work is needed to inform good decisions about the Public Trustee’s fees and charges model to ensure it’s contemporary, efficient, and sustainable.”

Originally published as Qld Public Trustee review recommends higher fees for wills, executor services