RETIREMENT estate . An estate worth R3 Million will pay , for example , approximately R120 750 in fees . In terms of South African Law , Executors may also charge 6 % ( plus VAT ) of any income into the Estate after death .
2 . Conveyancing attorney fees
This is the fee charged by the conveyancing attorney when property needs to be transferred . Fees are calculated on a sliding scale depending on the value of your house as determined by an assessor . A home worth R1 850 000 being transferred to a beneficiary could cost the estate R30 544 in fees .
3 . Testamentary trust fees
This is the fee charged by the trustees to administer the trust you create in terms of your will , usually to look after the money you leave to your minor children . On average , 1.15 % of the net asset value is charged to establish the Trust , and 1.6 % is charged annually for the ongoing administration of the Trust . The total cost of a Trust with R1.5 million in assets over 15 years would be R377 250 .
This is where the Legacy Protection Plan™ comes in very handy , seeing that all these fees and more are covered by the plan .
Free will drafting
We offer a complimentary Willdrafting consultation in which we will draft your Will and calculate your estimated legal fees and costs at death to determine which Legacy Protection Plan™ would be best for you . For less than R200 a month , you can ensure that these costs will be covered and rest easy knowing that you have planned for the unexpected .
CLICK HERE For more information on getting a will drafted
Indemnity cover
The costs of dying are one of the most important factors often overlooked when drafting your will and considering your estate . Make sure you prioritise this type of insurance for your family ’ s sake . These fees eat away at the legacy you plan to leave behind .
CLICK HERE For more information to get indemnity cover
SA Real Estate Investor Magazine FEB 2023 119