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Trust Services

SCHEDULE OF FEES

(Effective Date April 1, 2012)

Fees are divided into two categories: Tier One fees and Tier Two fees. Fees are charged under different tiers in an effort to customize billing procedures based on the needs of each case. Most accounts will have charges under both Tier One and Tier Two. In addition to Tier One and Tier Two fees, accounts may be billed for hourly or flat fee services of other professionals that are required to be used by the Trustee in carrying out the functions of Trustee. For example, Tier One and Tier Two fees for a Revocable Trust are shown below:

Tier One - Accounting and Reporting Fees:

The annual accounting and maintenance fees are based on a percentage of the market value of trust assets under management by the trust department and will be charged to the account monthly on a pro-rata basis as follows:

  • 1.10% of total market value of account - 0 to $2,000,000
  • 0.85% of total market value of account - $2,000,000 to $4,000,000
  • 0.75% of total market value of account - $4,000,000 to $5,000,000
  • 0.60% of total market value of account - $5,000,000 and above

*Minimum fee charge for all accounts will be $2,500 annually.

Tier Two - Time Charges

Services performed on managed assets will be charged at $200 per hour for Senior Trust Officer, $150 per hour for Trust Administrator services, $125 per hour for Assistant Trust Officer services and $80 per hour for support staff services. All time charges are billed in tenth-hour increments.

Consult the Fiduciary Fee Agreement and current account schedule for fees and charges. This Schedule is a summary statement only. The Fiduciary Fee Agreement and the assigned Fee Schedule terms and conditions are controlling. All Fee Schedules are subject to revision and may be changed or terminated by Heritage Bank.
 
Disclosure:
Investment products are not obligations of, guaranteed by any bank including Heritage Bank or any Heritage Bank affiliate, nor are they insured by the Federal Deposit Insurance Corporation, the Federal Reserve, or any other agency. An investment in such products involves investment risk, including possible loss of principal.
Serving the South Puget Sound Region of Western Washington