Flat Rate Fee includes
- Taking instructions and furnishing advice in respect of reporting the deceased estate to the Master
- Preparing and finalising reporting documents
- Attendance to Master’s queries prior to issue of Letters of Executorship
- All necessary administrative correspondence and meetings
- Notice to Creditors advertisement
- Preparing and finalising the Liquidation and Distribution account
- Attendance to Master’s queries in respect of the Liquidation and Distribution account
- Liquidation & Distribution Account advertisement
- Notice to the Master advising that the deceased estate has been finalised
Flat Rate Fee does not include
- Conveyancing transfer fees of property
- Accountant fees if this is required
- Dispute resolution and litigation fees
- Debts of the deceased person
- Master’s Fee
- Tax liabilities of the deceased person
Total Flat Rate Fee Based on Estate Value
Payment Schedule
Amount
Under R250 000
R 4 500
Section 18(3) Estate Fee
R 4 500
Between R250 000 but less than R500 000
R 8 000
Initiation Fee
Letters of Executorship
R 5 000
R 3 000
Over R500 000 but less than R1 000 000
R 15 000
Initiation Fee
Letters of Executorship
R 9 000
R 6 000
Over R1 000 000
R 25 000
Initiation Fee
Letters of Executorship
R 9 000
R 16 000
This is our standard payment schedule.
The Initiation Fee must be paid before reporting the estate to the Master. This is a non-refundable deposit which covers costs. Payment of the Initiation Fee must be made at the start of the process.
Final Payment is payable once Letters of Executorship is received from the Master.
Payment Schedule and Estate Value
At Siyatec Executors, we offer transparent and affordable flat rate fee services for estate administration, making the process easier and more accessible for a wide range of clients. Our fees are based on the estate value, ensuring that the costs remain reasonable and proportional to the size of the estate.
The payment schedule is divided into two main parts: the initiation fee and the final payment. The initiation fee is a non-refundable deposit that must be paid before reporting the estate to the Master, covering the initial costs of the process. The final payment is due once the Letters of Executorship have been received from the Master. Our standard payment schedule is designed to accommodate estates with varying values. For estates with a value between R250,000 and R500,000, the initiation fee is required, followed by payment for the Letters of Executorship.
For estates with a value over R500,000 but less than R1,000,000, the initiation fee is also required, along with payment for the Letters of Executorship. By offering a flat rate fee structure, Siyatec Executors aims to provide clients with a clear understanding of the costs involved in estate administration.
Our transparent pricing and commitment to client satisfaction make us a trusted choice for estate administration services in South Africa.