Frequently asked questions
What happens if an estate is not settled?
If an Estate has a shortfall the Executor will either sell off assets to meet the financial requirements or the heirs will pay in the shortfall to preserve the assets in order for them to take transfer of the said assets.
What are the powers of the executor of an Estate ?
The Master of the High Court grants the Executor the same powers as though he is the deceased individual himself.
What are the duties of an executor of an estate?
The Executor plays a vital role in ensuring that all processes are handled with the utmost efficiency and professionalism.
How much tax do you pay on a deceased estate?
When someone passes away it is important to remember that there are four types of taxes that come into play when dealing with the Estate:
How much do banks charge to be executors?
All Executors’ fees are regulated by a set tariff of 3.5% excluding VAT on the gross value of assets and 6% excluding VAT on all income received into the Estate during the administration process.