myPRO Estate Indemnity Policy:


There may be larger tax problems that must be resolved, or your executor will be forced to sell your assets to provide liquidity.

For most people this isn’t an issue, but there are people that this will apply to. Estate taxes are complicated and require professionals to ensure all SARS requirements are in order. Taxes are one thing, and there are others like large debts and maintenance accrual claims amongst many other expensive costs that will need to be paid for after you pass away.

This policy is designed to ensure that you provide the needed liquidity to have these paid for to prevent the forced sale of assets.

INTRODUCTION

Taxes are something you can't avoid, even in death. When planning what will happen to your property and assets after you pass away, it's crucial to understand the different taxes that might apply. The three main taxes your chosen person (executor) will have to handle are income tax, capital gains tax, and estate duty. But there are other expenses to consider as well, like outstanding debts, maintenance and accrual claims, and more.

These taxes are imposed on the transfer of wealth or assets from the deceased person's estate to the people who inherit them, whether they have a will (testate) or not (intestate). In simple terms, when someone passes away, their assets go to their heirs, and this transfer could be subject to estate duty and other taxes. On the other hand, capital gains tax is a tax on the profit you make when you sell or transfer an asset.

To figure out if your estate will face these costs and how to manage them effectively, you'll need a thorough assessment. Fortunately, Myprotector provided you with the insights you need from a free assessment.

HOW IT WORKS

When you pass away, the policy pays the full sum assured value into the 'Late Estate' and gets used by the executor to wind-up your affairs. Your executor will administer and manage the funds on behalf of your listed beneficiaries. Myprotector will report to the high court and show how the funds are being managed within the law and in the most effective and efficient way possible.

We are unwaveringly devoted to the financial well-being of our members, and our dedicated team is poised to provide expert guidance on your financial journey, empowering you to plan your life with unwavering confidence and wisdom. Our mission is to position ourselves as a premier membership organisation committed to safeguarding your distinct family legacy, founded on bespoke financial and legal principles.



Ways to apply


Here's how to obtain this product

	Simply get a quote from this web page
	or,
	Do this on your LegalTech Platform under the 'My Services' section
	Follow the onboarding instructions and receive your policy document
	Then, choose from a variety of value added products and services only available to subscribing members
	Note: Your quote will be done by our financial insurer partners. We do not provide financial advise, however our attorneys will provide you with education and support when you need guidance.