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]
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