What does administering an estate involve, is it a lot of work?
Being Executor of a deceased Estate is an administrative exercise, requiring following the Master of the High Courts process. Most, if not all the work can be done on your laptop, and can be done as and when you have time as there are no fixed short term timelines. The length of time taken to finalise an estate is mainly determined by the waiting periods for advertising and notices, as well as waiting for responses from Banks, Insurers, Pension funds etc. The faster the Executor follows up, the faster the estate is settled.
How do I know what to do?
The service we offer is a detailed website (with all the forms and examples) which guides you through the process, with a personal relationship between yourself and our Estate specialist, so that where you need guidance or have a question, you are a phone call / email away from the support you need. We also at specific points in the process engage with you to review your progress and check documentation to ensure your success.
What am I saving doing it myself?
On an Estate of R 1 million worth of assets ( house, car, bank accounts), the Executor fee allowable by law is R40,000, plus potentially a bond security fee of R 16,000, so R56,000 in total. Our maximum fee, irrespective of the size of the Estate, is R12,500. This (Executive option) fee covers both advice as to the most appropriate process to follow, and then the completion and submission of the paperwork / administration. Lesser options and custom options (if you have the Letter of Executorship already) are also available.
Is it better / quicker for me to do it myself?
Apart from the fees saved, it takes approximately 2 years for a professional executor to finalise an estate before monies are paid out. With our service, and you as Executor managing the process, this can be done in as little as 12 weeks. Also as your own Executor, you can payout in advance of finalising the paperwork, and structure the Estate in the best interests of your family.
What does the DIY Executorship service cost and can I pay in installments?
There are 3 options for the service from R 10,000 to R 16,500 dependent on the level of administration you want to do – these options are explained on the pricing page. Custom packages are also available to suit your circumstances.