DECEASED ESTATES

Waipa Post, Volume XXIV, Issue 1689, 21 November 1925, Page 5

DECEASED ESTATES

COST OIF) ADMINISTRATION

(By Telegraph. Press Association.) WELLINGTON, Friday. The concessions to beneficiaries in estates administered by the Public Trustee, which were foreshadowed toy the Prime Minister during his Southern tour early in October, are published in the "Gazette," under an Order-in-Council amending the regulations prescribing the rates of interest payable on moneys in the common fund of the Public Trust Office, and fixing the commission charges to be made by the Public Trustee. The new regulations will come into force on January 1, 1926. The rate of interest allowed estates whose moneys are invested in the common fund is increased from 5 per' cent to 51 per cent, while the rates of commission for administering estates under the value of £IOO is reduced so as to make the maximum rate 2\ per cent, except for the collection of book debts for which the charge is 5 per cent. The original charge for estates under the value of £IOOO was 5 per cent for the first £SOO, and 2| pea- cent thereafter. A reduction is also made for administering estates of higher value. There is a reduction of one-half per cent in respect to estates of over £15,000, and a reduction of another quarter per cent in estates of £25,000 and over. Other reductions relate to the cost if nrepnration of securities from the Publis Trustee and the rate on transfers to beneficiaries.