The fees payable to the Master of the High Court in deceased estates, has increased from 1 January 2018. Previously, the maximum amount due to the Master, was R600.00. Now, the maximum amount will be R7000.00.
If the value of your estate at the time of death is between R250 000 and R400 000, you will pay R600.00.
If the value of your estate at the time of death is more than R400 000, you will pay the basic R600.00 plus R200.00 for each additional R100 000.00.
So, please don’t blame the executor for the increase in costs.
The good news is that estates worth less than R250 000.00 do not pay any Master’s fees.
The good news is that paying the fees won’t be your problem. It will be your executor’s problem. Neilsons Attorneys can assist you with estate planning to minimise or avoid these fees and estate duty (also known as “death taxes”) and act as your executors.