{"id":16042,"date":"2020-09-01T11:43:29","date_gmt":"2020-09-01T09:43:29","guid":{"rendered":"https:\/\/stbb.co.za\/dev2\/?p=16042"},"modified":"2020-09-01T16:55:35","modified_gmt":"2020-09-01T14:55:35","slug":"thought-of-the-week-estate-liabilities-to-consider-in-your-will","status":"publish","type":"post","link":"https:\/\/stbb.co.za\/dev2\/thought-of-the-week-estate-liabilities-to-consider-in-your-will\/","title":{"rendered":"Thought of the week | ESTATE LIABILITIES TO CONSIDER IN YOUR WILL"},"content":{"rendered":"

Have you provided for these administration and related costs payable by your estate?<\/b><\/p>\n

    \n
  1. The standard tariff executor fee is 3.5% plus VAT calculated on gross assets (this value excludes all investments \/ policies with named beneficiaries).<\/li>\n
  2. The Master\u2019s fee charged per estate: R 600 \u2013 R 7,000, depending on the value of the estate.<\/li>\n
  3. Four estate advertisements need to be placed in the Government Gazette and local newspaper, totaling about R 1,600.<\/li>\n
  4. A bond of security if your will has not exempted the executor from providing same.<\/li>\n
  5. The transfer costs to transfer any immovable properties left to your heirs (no transfer\u00a0duty<\/strong>\u00a0is payable to SARS on inheritance transfers, but will be subject to transfer\u00a0costs<\/strong>).<\/li>\n
  6. Bond cancellation costs (or substitution of debtor costs where the heir will assume liability for the bond on the property).<\/li>\n
  7. Accounting fees to submit all tax returns to date of death and manage any post death taxes, and to obtain relevant income tax and VAT clearance certificates.<\/li>\n
  8. Any outstanding taxes payable to SARS.<\/li>\n
  9. Accounting and \/ or legal fees to manage and attend to any transfer of shares and other business interests.<\/li>\n
  10. Any accrual claim by your surviving spouse.<\/li>\n
  11. Costs to transfer motor vehicles to heirs (including any roadworthy inspections).<\/li>\n
  12. Estate duty payable to SARS. Be reminded that while the values of your investments are excluded from the estate value in calculating the 3.5% executor\u2019s fee where there are named beneficiaries, most investments are deemed assets for calculation of estate duty.<\/li>\n
  13. Capital Gains Tax \u2013 payable on transfer of any secondary properties and other assets attracting Capital Gains Tax.<\/li>\n<\/ol>\n

    These costs and others are applicable whether you leave a testate or intestate estate. Contact us at\u00a0estates@stbb.co.za\/dev2<\/a> for advice and assistance in drafting your will.<\/p>\n","protected":false},"excerpt":{"rendered":"

    Have you provided for these administration and related costs payable by your estate? The standard tariff executor fee is 3.5% plus VAT calculated on gross assets (this value excludes all investments \/ policies with named beneficiaries). The Master\u2019s fee charged<\/p>\n","protected":false},"author":23,"featured_media":3196,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[137,110],"tags":[],"class_list":["post-16042","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","category-thought-of-the-week"],"acf":[],"yoast_head":"\nThought of the week | ESTATE LIABILITIES TO CONSIDER IN YOUR WILL - STBB<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/stbb.co.za\/dev2\/thought-of-the-week-estate-liabilities-to-consider-in-your-will\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Refqah Ho-Yee\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/thought-of-the-week-estate-liabilities-to-consider-in-your-will\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/thought-of-the-week-estate-liabilities-to-consider-in-your-will\\\/\"},\"author\":{\"name\":\"Refqah Ho-Yee\",\"@id\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/#\\\/schema\\\/person\\\/d9a80b1628d5367563457b652471d630\"},\"headline\":\"Thought of the week | ESTATE LIABILITIES TO CONSIDER IN YOUR WILL\",\"datePublished\":\"2020-09-01T09:43:29+00:00\",\"dateModified\":\"2020-09-01T14:55:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/thought-of-the-week-estate-liabilities-to-consider-in-your-will\\\/\"},\"wordCount\":299,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/thought-of-the-week-estate-liabilities-to-consider-in-your-will\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/inaki-del-olmo-NIJuEQw0RKg-unsplash-1-1.jpg\",\"articleSection\":[\"Latest\",\"Thought Of The Week\"],\"inLanguage\":\"en-ZA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/thought-of-the-week-estate-liabilities-to-consider-in-your-will\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/thought-of-the-week-estate-liabilities-to-consider-in-your-will\\\/\",\"url\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/thought-of-the-week-estate-liabilities-to-consider-in-your-will\\\/\",\"name\":\"Thought of the week | ESTATE LIABILITIES TO CONSIDER IN YOUR WILL - 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