Trust and Private Financial Services

Central National Bank is ready to serve your expanding needs including Asset Management, Self-Directed IRA/SEP’s and custodial accounts.

SCHEDULE OF FEES:
This schedule applies to Living Trusts, Testamentary Trusts, Charitable Trusts, Agencies and Managed Individual Retirement Accounts. Conservatorship and Estate fees are determined and allowed by the District Court and must be "just and reasonable." Fees are based on reasonable compensation for work involved, responsibility assumed, and complexity of the matter. This schedule is a guide based upon normal fees for usual and customary services and is subject to change if laws or circumstances change or if extraordinary costs are incurred. Fees are stated on an annual basis, but may be charged and collected on a quarterly or more frequent basis. The Bank reserves the right to adjust all fees in the future.

BASIC ANNUAL FEES:

• Minimum Annual Fee
  • $500 per year on all Asset Management accounts other than Central Horizon Account
  • $50 per year for Central Horizon Account
  • $300 per year for Custodial
  • $200 base fee for all Trust Accounts

Asset Management:
Non-Real Estate Assets: an annual fee based on the current market value of the assets is normally collected on a monthly basis.

Agricultural, Commercial, Rental Properties
A management fee of 9% of gross income is charged.

Custodial
An annual fee based on the current market value of the assets is normally collected on a monthly basis.

• $5.00 of the first $200,000
• $4.00 of the next $2,000,000
• $3.00 of the excess over $4,000,000 plus $10.00 per security transaction. The purchase, sale, exchange, redemption or maturity of any asset is a security transaction.

Self-Directed IRA/SEP

• Market or Appraisal Value
• $50/Annual Fee on first $50,000
•  $100/Annual Fee on excess of $50,000 Plus $10.00 per security transaction. The purchase, sale, exchange, redemption or maturity of any asset is a security transaction.

Real Estate Sale Fee

• If the sale of real estate is negotiated by the Bank, the fee is 3% of gross sales price. If negotiated by a broker the fee is ¾ % of gross sales price.

Termination Fee

•  2% of the current market value of irrevocable trusts only, with a minimum fee of $250. For Agency Accounts, the fee is based on the time plus costs involved in the termination.

Acceptance Fee

• In general, no acceptance Fee is charged. All third party expenses are charged to the trust or account. If unusual expense is incurred or if the Bank is the successor fiduciary, a reasonable fee will be charged for the time, cost and responsibility involved in reviewing the accounts of the prior fiduciary.

Extraordinary Services

• When the Bank is serving as a Trustee of a Revocable Trust prior to the death of the creator or becomes Trustee at the death of the creator and required to render substantial assistance to the creator’s estate, a charge will be made based on the fair market value of the property in trust at the rate of 1%.
• For unusual or extraordinary services which cannot be anticipated but which may be necessary or desirable, the Bank shall be entitled to such additional compensation based on an hourly rate of $60/hr. For bank officer and $30/hr. for clerical.

Co-Trustees

• If individual co-trustees are named to serve with the Bank, their compensation, if any, shall be in addition to that of the Bank.

Tax Returns

• Central National Bank will prepare tax returns. Reasonable tax return preparation fees will be charged to the account.