The real cost of dying
Along with the heartache of death comes a variety of additional burdens in the form of legal fees and expenses which have to be taken care of by your loved ones. Understanding these legal fees and expenses can help you prepare for them and ensure that these costs are covered and the burden on your loved ones is alleviated.
With our innovative Legacy Protection Plan™ you can cover all your legal fees and other expenses associated with dying
from as little as R78.44 per month.
What are the costs
Without a Legacy Protection Plan™ from Capital Legacy,
these are some of the fees your family will need to cover when you pass away.
This is the industry standard fee charged by the Executor or assisting professional to wind-up your Estate. A maximum of 3.5% + VAT of your Estate will be charged. Example: An Estate worth R3 Million will pay R120 750 in fees.
Conveyancing attorney fees
This is the fee charged by the Conveyancing Attorney when property needs to be transferred.
Example: A home worth
R1 850 000 being transferred to a Beneficiary will cost R30 544 in fees to the Estate.
Testamentary trust fees
This is the fee charged by the Trustees to administer the Trust you create in terms of your Will, normally 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. Example: The total cost with R1.5 Million in assets over 15 years is R377 250.
The fee paid to the Master of the High Court regarding their fulfilment of their role in the administration of your Estate.
Fees associated with corresponding with the Master of the High Court.
One of the requirements to transfer a property is obtaining a clearance certificate from the city council or municipality.
This will be issued only if the rates and taxes are paid in advance. Some areas require up to 6 months paid in advance.
Two advertisements have to be placed in a local newspaper and the Government Gazette. The costs can vary between R1 000 and R1 500 depending on the publication selected.
Not only will all outstanding taxes have to be paid from the Estate before it may be finalised, but the Executor will have to determine whether Capital Gains Tax (CGT) or Estate Duty is payable at death.
Ongoing short-term bills
Bills such as medical aid, schools fees, car insurance, water, lights, rates, etc. still need to be paid even though bank accounts are frozen.
Other immediate expenses
Costs associated with arranging a funeral such as catering, travel and other expenses.
These fees eat away at the legacy you plan to leave behind. Don't burden your family. Protect your legacy. Get covered now!
THE LEGACY PROTECTION PLAN™
Our unique, first-to-market Legacy Protection Plan™ is a complete solution that accompanies your Will and covers you and your loved ones from the inevitable legal fees associated with dying.
What’s more, the Legacy Protection Plan™ also offers you and your loved ones protection from various other expenses that arise when you pass away.
Cover Legal Fees
The Legacy Protection Plan™ is an innovative insurance product, starting from as little as R78.44 per month, that accompanies your Will and covers the legal fees such as Executor Fees, Testamentary Trust Fees, Conveyance Attorney Fees and other costs associated with dying including Master’s Fees, advertising costs, monthly bills, etc.
An immediate cash benefit up to R141 075 will be paid to a Beneficiary of your choice, within 48 hours.
Options available to suit all your needs, whether or not you have an existing illness or are older than 60 years of age.
Plans for over 60 year olds
Cover 75% of all your legal fees for only R97.52 per month.
Cover 90% of all your legal fees for only R137 per month.
No medicals required and flat premium regardless of age.
only R97.52 per month
Legal Fee Coverage:75%
only R137 per month
Legal Fee Coverage:90%
from R78.44 per month
Cash Benefit:R15 675
Legal Fee Coverage:R130 625
from R97.52 per month
Cash Benefit:R36 575
Legal Fee Coverage:R261 250
from R116.60 per month
Cash Benefit:R83 600
Legal Fee Coverage:R783 750
from R152.64 per month
Cash Benefit:R114 950
Legal Fee Coverage:R1 567 500
from R189.74 per month
Cash Benefit:R141 075
Legal Fee Coverage:R3 135 000
from R272.42 per month
Cash Benefit:R141 075
Legal Fee Coverage:Unlimited
When you pass away, your family could have limited access to money. Ensure there is money available to cater for things such as funeral expenses, travel arrangements, groceries and other immediate expenses. This benefit seamlessly protects not only yourself, but your Spouse, Children and Parents too.
Immediate Liquidity™ Benefit:
Up to R141 075
Estates take time to wrap up and in the meantime your family has numerous accounts and monthly expenses to pay. This benefit will keep the lights on, pay the medical aid, pay the school fees, pay for groceries and cover the insurance.
Through the Executor, accounts are paid directly to the service provider, every month, for up to 6 months.
Estate Overheads Protector™:
Up to R31 350
If both you and your Spouse should pass away, it can be a financial shock to your Beneficiaries. It’s often too expensive to cover the costs associated with both Spouses passing away simultaneously. Through this benefit, you can provide for inheritance taxes and other additional legal costs as well as the loss of monthly income.
Estate Gap Cover™:
Up to R1 567 500
WHY THE LEGACY PROTECTION PLAN™?
Over the years, we've seen how traumatic the Estate Administration process can be for families that may not have effectively planned for the financial costs of dying, causing massive delays and often financial ruin for the Estate.
We have all the legal, professional and insurance expertise under one roof which allows us to quickly and efficiently execute an Estate without delays and burdensome processes.Our average Estate Administration turnaround time is only 6 - 9 months compared to the industry which can see Estates take years to conclude. This means we can execute an Estate at costs well below the industry norm, allowing us to pass this cost saving back to you in the form of low premiums and higher benefits.Many people fail to set aside funding to cover the legal fees and expenses associated with winding up an Estate causing a burden on the family left behind. To alleviate this burden, the Legacy Protection Plan™ ensures dedicated provision for all the costs associated with dying.