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JW Fourie
JW Fourie, Attorney
Category: South Africa Law
Satisfied Customers: 15992
Experience:  L.LB (UOVS)
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South Africa Law Questions: 1) is the executor’s fee in a

Customer Question

South Africa Law Questions: 1) is the executor’s fee in a deceased estate calculated on the total value of the property before or after expenses are deducted? 2) in the event that the immoveable property is not sold, but transferred to me (the beneficiary) does it make an difference to the executor’s fee ie is his fee calculated on the value of the immoveable property regardless of whether it’s sold or not?
Submitted: 11 days ago.
Category: South Africa Law
Expert:  JW Fourie replied 11 days ago.

Hi there.
Thank you for your question. There may be a little bit of back and forth between us before I provide you with an answer and this may take some time. Just know that I will reply, normally within a couple of hours at most

Expert:  JW Fourie replied 11 days ago.

1). It is calculated on the gross value of the estate, yes.

2). If the property is not sold, the fee will be calculated on a the property valuation as determined by a property valuator.  If it is sold out of the deceased estate, the price it was sold for will be used to calculate the value of the estate.

I hope this helps,, but if you have any follow up questions please feel free to ask.

Customer: replied 11 days ago.
It doesn’t seem fair that his fees are based on the total value of the estate before fees and yet, the beneficiary, only receives the value of the estate once all fees are deducted!
Expert:  JW Fourie replied 11 days ago.

I unfortunately cannot comment on the fairness of it.  I can only comment on what the law state.  The Administration of Estates Act state that the fee an executor is entitled to is 3,5% of the gross value of the estate.  Unless the will says otherwise, that is the fee the executor is entitled to by law.

Customer: replied 11 days ago.
The executor told me 4,5%. I suppose with VAT it comes to that?
Expert:  JW Fourie replied 11 days ago.

Not sure if that is why she told you 4,5%.  I recommend that you confirm with her.

Customer: replied 11 days ago.
I most certainly will!
Expert:  JW Fourie replied 11 days ago.

Good call.

Expert:  JW Fourie replied 9 days ago.

I am marking this question as complete as we continue on your other thread.  If you have follow up questions here, please feel free to ask either here, or on the other thread.