Agri Kultuur December / Desember 2018 | Page 43

be obtained from your closest family – this will unquestionably lead to unwanted delays in the process of winding up your estate. The one thing more important than having a will, is knowing who to appoint as your executor or agent. The appointed executor or agent may charge a maximum fee of 4,025% (VAT inclusive) of the gross value of the estate and 6% on all income generated by the estate after the death of the deceased. A fee this high is common practice in most banking institutions and can seriously affect the available liquidity in your estate. If there is not enough cash in the estate, the executor or agent might be compelled to sell some (or all) of the assets to generate cash to pay all the liabilities, claims against the estate and himself of course. Now a days very little institutions personally consult with the family members beforehand. Different call operators are assigned to handle one case. This will ultimately lead to poor communication between the related parties and no one can be pin pointed if something goes wrong. It is therefore imperative to think twice before nominating an executor or agent in your estate. Our fiduciary team at BVSA has decades of experience in the field of estate administration and is professionally equipped with a team of experts to guide and assist you with the death of a loved one. We pride ourselves on the following professional attributes: • Professional Fiduciary Practitioners permanently employed to administer your estate. • Personal consultation with family members. • Monthly progress reports. • Very competitive and negotiable executor’s fees. • No fees on estate generated income after death. • Discount on all property transfers • In house financial advisers and brokers to assist with any investment or insurance matters. It is evidently clear from the above exposition that the nominated executor or agent in your estate can single-handedly change the course of the estate administration process. At the end of the day, an executor must ensure that the testator’s last wishes are adhered to by administering the estate in the most cost- effective way. In doing so, the remaining family heirs will reap the maximum financial benefits and not be left alone in the dark. So, choose wisely, choose BVSA. For further information on wills, estate administration or any other matters related to or in connection therewith, please contact us for expert advice. Regardt Draper, BVSA, CFP (UOVS), AdvDip (Trust & Estates), LLB (NWU), LLM (NWU) Disclaimer: The material contained in this document is provided for general information purposes only and does not constitute legal advice. We accept no responsibility for any loss or damage which may arise from reliance on information contained in this article. ONS LEWER DIE VOLGENDE DIENSTE:  BOEKHOUDING  BESTUURS- EN FINANSIËLE STATE  BELASTING DIENSTE  MAATSKAPPY/BESIGHEID REGISTRASIE  SEKRETARIËLE DIENSTE  BOEDELBEPLANNING & TESTAMENTE  TRUST ADMINISTRASIE  B-BBEE HERSTRUKTURERINGS KONSULTANTE (023) 342 2374 [email protected] AgriKultuur |AgriCulture 43