Overview
The PGT administers estates and personal trusts in a variety of circumstances. For example, when there is no other eligible person able or willing to do so, the PGT may:
- Administer the estate of a deceased person
- Act as curator for a missing person
- Become trustee of a personal trust
The PGT may also be appointed executor of the estate of a deceased person in a person’s will.
Administration expenses are paid by the estate. These are expenses such as accountant fees for filing taxes, charges for securing and maintaining property, storage of personal items, contracting with an heir locator, postage and long distance charges.
For more information about the different types of fees, see Information about fees
Fees for administering the estate of a deceased person
The PGT can administer an estate when the executor, intestate successor, beneficiary or other eligible person is not able or willing to do so. We charge the following fees for these services:
| Fee | Amount |
|---|---|
| Capital commission | 7% of total assets (other than real estate) |
| Capital commission on sale of real property sold through an agent | 5% of gross sale price |
| Capital commission on real property conveyed to a beneficiary or heir | 3% of gross value of the property |
| Minimum capital commission | $3,500 |
| Income commission | 5% of interest or all income earned by the estate |
| Asset management fee | 0.7% per year, calculated monthly on the gross value of all assets |
| Heir tracing fee: Identifying, locating and proving heirs | $75 per hour |
Fees for acting as executor for the estate of a deceased person or curator for a missing person
The PGT may be named as executor in a will. We may also be named as curator to manage a missing person's property until the person is located, or until the funds are paid into the court for safekeeping. We charge the following fees for these services:
| Fee | Amount |
|---|---|
| Capital commission | 5% of total assets (other than real estate) |
| Capital commission on sale of real property with an agent | 3% of gross sale price of property |
| Income commission | 5% of all income received and income earned on it |
| Asset management fee | 0.7% annually, calculated monthly on the gross value of all assets |
Fees when PGT is trustee of a personal trust
The PGT may act as trustee of a personal trust created by a will, trust agreement, or court order if there is no appropriate option to appoint a family member or trust company as trustee.
| Fee | Amount |
|---|---|
| Capital commission | 3.75% of total assets |
| Income commission | 3.75% of all income received and income earned on it |
| Asset management fee | 0.7% annually, calculated monthly on the gross value of all assets |
All fees charged by the PGT are set by the B.C. government in the Public Guardian and Trustee Fees Regulation. Please note that 5% GST is payable on all PGT fees.