October 8, 2014

Appointment of the Executor of my Will

This is a subject which causes more and more discussion and people become more knowledgeable about Executor’s fees and how it is calculated. As mentioned in previous articles, the maximum Executor’s fee is fixed by law. The current maximum permissible Executor’s fee is 3.5% of the gross estate value plus 14% VAT (should the Executor be registered for VAT). It seems as though this fee is very fair or even at a very low percentage, but let us illustrate with an example: Let us suppose that the gross estate value is R2 million. Due to the drastic increase in the […]
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