GSS's billing philosophy is to strive to
maintain a low hourly rate, to delegate work to staff with lower hourly rates
that have the necessary skills to complete the task, and to show all activity
on regular statements. Billing
statements are prepared monthly.
Clerical: This is a fixed monthly charge, based on
estimated time incurred, and includes: filing legal and personal documents;
processing income/outgoing mail; routing telephone calls and faxes. The amount
of estimated time billed per month is based on the level of activity of the
account. It ranges from zero for low-activity accounts and up to 1.0 hour per month
for high activity accounts.
Transactional Charges: This is a fixed charge per
transaction, and is billed for each disbursement and incoming deposit
processed, and includes: fiduciary check
writing and processing, review of supporting documents, computer processing,
check cost, postage, and authorizing signature.
For trust estates in excess of $1,000,000, GSS
may charge fees as a percentage of assets under management rather than hourly. In these types of cases, fee percentage may
be negotiated and Court approval may be sought to approve the fee structure, if