Frequently asked questions
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.
How much can you inherit without paying taxes?
Each individual receives a rebate of R 3.5 million on Estate Duty.
How long does it take to get inheritance money?
The length of time it takes to administer an Estate depends on the complexity of the Estate, which in turn affects how long it takes to receive an inheritance.
How long does it take to get a letter of executorship?
Generally, the Master can take up to six weeks to issue an appointment letter on provision that all correct and relevant documents have been submitted.