What does it cost to wind up a deceased estate? Enter the gross value of the assets and the estimator applies the executor's tariff, VAT, the fee on income collected after death and the Master's sliding scale, then explains the costs that are quoted rather than tariffed.
The executor's fee is 3.5% of the gross assets plus VAT, the Master charges a sliding fee from R250 000, and estates below R250 000 can be wound up under section 18(3) without a formal executor.
Nothing below R250 000; R600 at R250 000; R200 more for every R100 000 or part of it; capped at R7 000.
| Gross value of estate | Master's fee |
|---|---|
| R200 000 | R0.00 |
| R250 000 | R600.00 |
| R500 000 | R1 200.00 |
| R1 000 000 | R2 200.00 |
| R2 000 000 | R4 200.00 |
| R3 000 000 | R6 200.00 |
| R3 450 000 | R7 000.00 |
| R5 000 000 | R7 000.00 |
The tariff allows 3.5% of the gross value of the assets in the estate and 6% of income collected after death, plus VAT if the executor is a registered vendor. The fee is negotiable, and some executors charge less on large or simple estates.
Nothing on an estate below R250 000. From R250 000 the fee is R600 plus R200 for every R100 000, or part of it, above that, to a maximum of R7 000.
An estate with a gross value below R250 000. The Master may issue letters of authority instead of letters of executorship, the process is shorter and no executor is formally appointed.
Two advertisements: the notice to creditors under section 29 and the notice that the account lies for inspection under section 35, in the Government Gazette and a local newspaper. A bond of security if the will does not exempt the executor and the Master requires one. Conveyancing fees if fixed property passes to heirs, though the transfer itself is exempt from transfer duty. Valuation fees, bank charges and the cost of any tax returns. These are quoted by the executor, not tariffed.
On the gross value of the assets, before debts are deducted. That is why a heavily bonded house still attracts the full 3.5% on its value.
Yes. The tariff is a maximum in practice: the executor can agree a lower fee, and the Master can reduce a fee that is disproportionate. Ask before signing the nomination.
An attorney can be nominated as executor, agree the fee before you sign, and handle the Master, the advertisements and the transfers to heirs.
Find a wills and estates attorneyThe Administration of Estates Act chain on each matter, estate money in a reconciled trust ledger, and the executor fee billed at the stage it falls due.