MSNT Fee Changes Beginning 7/1/22
By Kathy Birkes, Executive Director
As you know, it has been many years since Midwest Special Needs Trust has increased fees. After thoughtful consideration, the MSNT Board of Trustees deemed it necessary to adjust fees to continue to provide the level of service that our Life Beneficiaries deserve. Please be assured that the Board carefully analyzed the impact on sub-accounts and has made every effort to keep this increase to a minimum. In order to simplify the fee process, transaction fees have been eliminated.
| Fee Type | Previous Fee | Fee as of 7/1/2022 |
|---|---|---|
| Annual Asset Value (AV) Fee (Bank Fees not included) | 1.5% for AV ≤ $15,000; 0.9% for accounts with assets over $15,000 | 1.5% for AV ≤ $500,000; 1.25% for AV between $500,000 and 1 Million; and 1% for AV over 1 Million |
| Transaction Fee | $10 per transaction | No Transaction Fee |
| MSNT Sole Trustee Fee | $62.50 per month | $100 per month |
| Account Closure Fee | $100 for low balance; $300 for all others | $300 for all closings |