Executor Fees and Estate Costs Explained
Winding up a deceased estate costs money. Executor fees, Master's fees, and other costs can significantly reduce what heirs receive. Here is a clear breakdown of all the costs involved.
Key Takeaways
- Executor fees are capped at 3.5% of the gross estate value (plus VAT)
- Master's fees are calculated on a sliding scale
- Conveyancing fees apply if property is transferred
- Total costs are typically 4-7% of the estate value
- You can negotiate executor fees below the maximum
Executor fees
Executor fees are regulated by law and capped at 3.5% of the gross value of the estate, plus VAT. On a R2,000,000 estate, the maximum executor fee is R70,000 + R10,500 VAT = R80,500. You can negotiate a lower fee, especially for simple estates.
- Maximum: 3.5% of gross estate value + VAT
- On R2m estate: R70,000 + VAT = R80,500
- Negotiable — you can ask for less
- Simple estates: some attorneys charge a flat fee
- Family members can act as executor for free
Master's fees
The Master of the High Court charges fees for administering the estate. These are calculated on a sliding scale based on the estate value. On a R2,000,000 estate, Master's fees are approximately R7,000.
- Calculated on a sliding scale
- On R2m estate: approximately R7,000
- Paid when the L&D account is submitted
- Cannot be negotiated — set by law
Other costs
If the estate includes property, conveyancing fees apply to transfer it to the heirs. Advertising costs, bank charges, and SARS compliance costs also add up. Budget for total costs of 4-7% of the estate value.
- Conveyancing fees if property is transferred
- Advertising in Government Gazette: R1,000-R2,000
- Estate bank account charges
- SARS compliance and tax clearance
- Total: typically 4-7% of estate value
Ready to see your own numbers?
Use the Deceased Estate Checklist