Life Insurance vs Membership












No costs with MyProtector


Leave more for your loved ones to inherit with our estate administration membership, provided by a team of qualified estate administrators, executors and conveyancing attorneys.

Why become a member?

Zero Cost Executor Attorney Fees
Zero Cost Conveyancing Attorney Fees
Zero Cost Estate Administration Fees
Zero Cost Legal Will Document Services
Added Financial Co-Payment Value
 






What's best for you?


The following are costs relating to deceased estate administration:



'Late estate' bank account

The executor needs to open this bank account for the purposes of winding-up the estate.

Executor fees

In terms of current legislation the executor’s fee is 3.5% of the gross value of the estate assets plus 15 % VAT. That is the total value of the estate assets as on date of death. In terms of current legislation the executor’s fee is 6% on income earned by the estate after date of death plus 15% VAT. That is 6.9% in total on income earned by the estate after date of death. 
Conveyancing attorney fees

This fee is charged by a Conveyancing attorney based on the total value of the property and a transfer duty tax is charged to transfer the property into a non-beneficiary's name.
Bond cancellation costs

Should the executor need to cancel a bond, then there is a fee involved.

Testamentary trustee fees

This fee creates and manages the trust every year. Admin of trust = 1.5% on average
Masters fees

The fee that is charged by the Master of the high court for deceased estate purposes.

Advertising fees

2 adverts are placed in the local newspaper and the government gazette.
Creditors against the estate

This could be new bond costs, bad debt, card accounts, overdrafts, and interests etc
Income TAX or capital gains

An assessment would be done to determine what this cost might be, if any.
Rates and tax arrears

The clearance certificate will only be issued if the rates and taxes are paid in advance. The period that has to be paid in advance varies from area to area but is normally about six months. This amount may not be readily available and needs to be planned for in advance.
Other costs

These would be funeral fees, medical bills, paying utilities etc.



Our mission is to protect your family's inheritance.









So what if you don't get your legal affairs in order?


1 - Heirs won't get their full inheritance because your plans are not up-to-date or in-line with the high court procedures
2 - Your heirs will be subject to the courts decision as to any inheritance which might not land up being what you would have wanted
3 - Deceased estate carries too much debt so your assets have to be sold by law, leaving your family with less to inherit
4 - Unnecessary Tax, Estate Duty, Capital Gains and VAT are paid which will reduce your estate value, leaving much less for your loved ones
5 - Children are not considered so the courts decide their future, thus placing them under enormous pressure to survive this world
6 - Your executor is not monitored so they could drag their heels, which costs your estate and leaves your family struggling to survive while they wait
7 - It could take your family a long time to find out that you have died, if no formal emergency strategy is in place for each family member
8 - Family members are thrown into chaos when a death occurs and everything gets confusing as they try to administer your affairs
9 - Your life is forgotten about and future generations will never know about you, leaving future generations guessing about who you were


These are the unavoidable issues that you need to plan for and nobody gets away with them.