DigiProtect: Estate Cost Calculator

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SUMMARY OF ASSETS
The below is the total value of each of your assets. These fields are editable and you are to ensure they reflect the total sum per asset type. The more accurate these asset values are, the more accurate your cost estimate will be for winding up your estates.
Properties
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Investments
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Insurance policies
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Other assets
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Vehicles
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TOTAL SUM OF ASSETS
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VALUE USED FOR ESTIMATE OF ESTATE FEES AND COST*
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NET ASSETS TO DETERMINE ESTATE DUTY
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Administration Costs
Executor fees (3.5% + VAT)
Your executor has the right to charge a fee for administrating your estate after you die. The maximum legal rate is 3.5% of the gross value of your estate plus VAT. In addition to this, your executor can also charge 6% plus VAT on all income coming into the estate during the administration process.
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Conveyancing fees
When a property gets transferred from one person (or their estate) to another, there are both taxes and fees that need to be paid. This amount, however, does not include the outstanding balance on any mortgages.
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Masters fees
These are the fees payable to the Master’s Office for administrating your estate.
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Standard administration costs
The general administrative costs that come with tying up an estate which could include paying for advertising notices in newspapers.
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Estate duty
Estate Duty is a type of tax paid to the South African Revenue Service (SARS) on estates above a certain value. The first R3.5million of your Net estate is free of estate duty. In addition, any amount of left to your spouse is free of estate duty to an amount of an additional R3.5million.
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Please keep in mind
These values above are cost estimates. This information is likely to change which is why it’s important to regularly review your Will and Estate. These (estimated) administration costs do not take into account adjustments for the accrual in terms of marriage. They also do not make provision for income tax or capital gains tax payable in the year that you pass away. If your estate does not have the Total Liquidity required to cover the above costs as well as any outstanding debts, your assets will be sold in order to cover these costs.
Estimated estate administration costs
These are the total of all the above duties, fees and cost
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CASH BEQUESTS & PET CARER LUMP SUM (IF APPLICABLE)
These are the total amount as per your wishes in your will
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TOTAL LIQUIDITY NEEDED IN YOUR ESTATE
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*PLEASE NOTE*
The values are illustrative of the costs based on the information you have provided and they may change over time, this is why it is so importance to adjust your will regularly. If your estate does not have the Total Liquidity required to cover these costs, plus outstanding debts that the estate may have, your assets will have to be sold in order to cover these costs.
Get a quote for insurance to cover these estimated estate administration costs.
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