How much does Kensington Trust Singapore charge to manage a Trust?
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We have tied up with Kensington Trust Singapore (“Kensington”), a licensed trust company, to deliver quality professional trust services. Please note that fees quoted below serve only as a guide, actual fee will vary based on your specific requirements.
• This is a summarised fee guide for Singapore clients. Because client situations are never the same, Kensington can only provide more details when they meet the client. For foreign Clients, including EP holders, please enquire with Kensington on the fees.
• The fees quoted are the basic amounts. The final fee can vary for more complex cases that may require additional research and third-party advice.
• Fees may be revised in the future as needed.
• Currency is in Singapore dollars unless otherwise specified.
• Clients should see Kensington in their office. The first consultation of 45 minutes is complimentary.
There are typically 3 fees that you need to pay when appointing a professional Trustee:
Appointment Fee
(Applicable only when naming a licensed trust company as corporate executor and/or trustee in Wills.)
Starting from 8 April 2025, Kensington has discontinued accepting new appointments as corporate executor and/or trustee in Wills, except under specific circumstances described below (fees are subject to Kensington's assessment):
- For clients who have previously appointed Kensington as executor and/or trustee in their existing Wills, Kensington will honor the historical arrangement and will continue to provide its services. However, in the event of any amendments to the Will or testamentary trust, such cases will be assessed on a case-by-case basis.
- For clients with an active or standby trust already established with Kensington as trustee, these clients may already draft a Will to direct assets into the established trust upon their death. Kensington may consider accepting an appointment as corporate executor for the Will if the client lacks suitable family members or close friends to fulfill this role, such cases will be assessed on a case-by-case basis.
From experience, clients who request corporate executorship and/or trusteeship for Wills, often have underlying concerns which may be better addressed through the establishment of a trust with a licensed trust company. This arrangement enables at least a portion of the client’s estate to be shielded from creditors, has the ability to also provide for the client himself while still alive, ensures that the estate remains sufficiently solvent, and facilitates a more predictable distribution than over what a Will alone can offer.
The same concern of not having a trusted person who can act as executor and/or trustee for their Wills, would also apply in situation say they become permanently disabled or loses mental capacity while they are still alive. While testamentary trusts or corporate executorships may appear to be less financially burdensome, they are not able to address these inherent concerns when compared to a living trust or even a standby living trust.
Trust Setup Fee
To draft the Trust document.
| Type | Fee | Remarks |
|---|---|---|
| Standby / Insurance Trusts | From $5,500 (excludes any initial Trust settlement which will be part of the Trust fund) | Standby trust is a living trust that is set up during the lifetime of the Settlor. It holds minimal Trust Property, until the trust has assets poured into it - through a voluntary injection of assets or through a trigger event such as death or mental incapacity. |
| Active Trusts | From $10,000 (excludes any initial Trust settlement which will be part of the Trust fund) | Active Trust is a living trust that holds substantial assets that have to be actively managed by the trustee. |
| Other Trusts | Please enquire with Kensington | Other Trusts – these include private trust companies, business succession trusts, charitable trusts, escrows and bare trusts. |
| Testamentary Trusts (Will Trusts) | $0 when drafted through getArrange.com | The trust is set up only upon the death of the Testator and funded by the testator's assets due to what is written in the Will. There is no trust while the Testator is still alive. |
For a Testamentary Trust, there are no additional setup fees as the document is drafted in the Will. However, please take note of its limitation that it cannot be funded or use for any purpose while the testator is alive since a Will only takes effect upon death.
Trust Administration Fee
Trust administration refers to the trustees’ management of trust assets according to the trust documents’ terms.
The table below provides a rough guide. It is not possible to provide a certain fee estimate for Trust Administration. This is because of the diverse nature of trust assets in the present and in the future, which may include local and foreign bank accounts, properties, underlying companies with passive and active businesses, global financial securities, art pieces, boats and others.
| Type of Assets | Annual Trust Administration Fee |
|---|---|
Movable assets such as cash in bank and financial securities (for standby and insurance trusts) |
Between 0.15% and 0.10% per annum subject to a minimum of $5,000, or negotiable, depending on complexity |
| Active Trust assets | Please enquire with Kensington |
| Immovable assets such as homes and land | Please enquire with Kensington |
Does Kensington offer any services to support a non-professional executor/trustee after the testator’s passing?
Kensington does not provide advisory or administrative support to a non-professional executor/trustee in executing the Will or managing the testamentary trust.
However, if the non-professional executor/trustee wishes to establish a separate living trust with its own trust deed (based on the Will’s instructions where the proposed beneficiaries are clearly defined), Kensington will be happy to consider it.
If a non-professional trustee of an activated testamentary trust later wishes to appoint Kensington as a replacement trustee, Kensington will assess this on a case-by-case basis, depending on the terms of the trust written in the Will.
For clients seeking greater certainty and convenience in engaging a corporate trustee upfront, a standby or living trust should be considered.
Does Kensington provide services to act as a Professional donee for property and affairs (specifically excluding personal welfare)?
Kensington is registered with the Office of Public Guardian as a professional donee and would be willing to take on the role on a case-by-case basis for clients that have appointed them as trustee in respect of a living trust and/or standby trust.
Other Services & Matters
- Hourly charges for ad hoc non-routine work – Kensington charges between $250 and $800 per hour depending on the seniority and experience of the staff member.
- Kensington do NOT draft Wills. Please refer to your Certified Estate Planner or getArrange regarding Will drafting matters.