02/03/2021
TOP 5 IMPORTANT COSTS
OF DYING
Executor fees – You need a professional to wind up your Estate. Professionals cost money and executors can charge up to 3.5% + VAT of the value of your Estate in order to do the work. This could be hundreds of thousands of Rands and if you don’t have this money available the Executor is entitled to auction off your assets to pay his fees.
Immediate expenses – When you pass away, your bank accounts could be frozen and your family could have limited access to money. Our Immediate Liquidity™ Benefit makes sure you have money available for the funeral, travel, groceries and any other immediate expenses.
Testamentary Trust fees – If you are leaving an inheritance to minors, you need to set up a Trust upon your death in order for them to inherit your assets. Trust and ongoing Trustee fees can erode their inheritance. Our Legacy Protection Plan™ covers all these fees to ensure your Legacy is protected.
Monthly living expenses – Estates can take months, if not years, to wrap up and families mistakenly assume their Estate will pay the monthly ongoing expenses such as lights, rent, groceries, etc. but the funds are often tied up until the Estate is finalised. Our Estates Overheads Protector™ helps cover these essential monthly bills.
Taxes – Most people leave their entire Estate to their Spouse, but if both of you pass away and your Children inherit everything then Capital Gains Tax and other legal fees are triggered. Our Estate Gap Cover™ will pay a cash benefit to the second Spouse's Estate to cover the burden of these additional taxes and legal fees.
