Executor checklist and estate cost estimate
Someone has died and you have been left with the paperwork. Put in the gross value of what they owned and the date of death, and this gives you the route the Master will take, the forms by number, every deadline with a real date, and what the whole thing is likely to cost. No account, nothing is saved.
Your dates
| Step | Deadline | Where it comes from |
|---|
The forms you will need
How the two routes differ
| R250 000 or less | Over R250 000 | |
|---|---|---|
| What the Master issues | Letters of authority to a Master’s representative | Letters of executorship to an executor |
| Legal basis | Section 18(3), amount set by GN R920 of 2014 | Sections 13 and 14 |
| Master’s fee | None | R600 rising to a maximum of R7 000 |
| Creditor advert | Not required | Gazette and local paper, 30 days minimum |
| Formal account | Not required, the Master gives directions instead | Liquidation and distribution account within six months |
| Security | Usually none | Bond of security unless the will exempts the executor |
| Typical duration | Weeks to a few months | Six to twelve months, longer with property or a business |
What the numbers mean
- The Master’s fee comes from Schedule 2 of the regulations as amended in 2017: nothing under R250 000, R600 from R250 000 to under R400 000, then R200 for each further complete R100 000, capped at R7 000.
- The executor’s fee is the maximum tariff under section 51: 3.5 percent of the gross value of the assets, plus 6 percent of income the estate earns after the death, with VAT added if the executor is a VAT vendor. It is a ceiling, not a fixed price, and it is negotiable before appointment.
- Estate duty is charged on the net value above the R3.5 million abatement, at 20 percent up to R30 million and 25 percent above that. Anything left to a surviving spouse is deducted first, so most estates with a spouse pay none.
- Not included: the Gazette and newspaper adverts, property valuations, transfer costs and conveyancing, tax returns for the deceased and the estate, and the bond of security premium if one is required.
Want the estate reporting pack prepared?
Leave your email and we send the checklist for your route, the Master’s current form pack and what to certify, once. No newsletter unless you ask for one.
We can prepare and lodge the reporting pack
Every Master’s form completed for your route, the nomination and declarations drafted, the certification list, and the pack lodged at the right office or on the Master’s online system. R1 490, with the Master’s fees and adverts paid from the estate.
Prepare the estate packFrequently asked questions
Does the R250 000 threshold use the value before or after debts?
Before. Section 18(3) of the Administration of Estates Act looks at the gross value of the estate, so a house worth R900 000 with an R800 000 bond is an estate of R900 000, not R100 000, and needs a full executor appointment.
What does the Master charge?
Nothing below R250 000. From R250 000 to under R400 000 the fee is R600, and from R400 000 up it is R600 plus R200 for every further complete R100 000 of gross value, capped at R7 000.
Can I be the executor myself?
Yes. A family member can be nominated as executor and many are appointed, especially in smaller estates. The Master may require security by way of a bond unless the will exempts the executor, and in larger or contested estates will usually expect an attorney, accountant or trust company to assist. The executor’s fee of 3.5 percent is a maximum and a family executor can waive it.
Do life policies form part of the estate?
Only if they pay to the estate. A policy with a named beneficiary pays that person directly and does not go through the estate, although its value is still counted for estate duty. Retirement fund benefits are distributed by the fund trustees under the Pension Funds Act and fall outside the estate.
Keep exploring
Estimates only, from the Administration of Estates Act 66 of 1965 and its regulations (Schedule 2 as amended by GN 1161 of 2017, and the section 51 remuneration tariff), Government Notice R920 of 2014 setting the section 18(3) amount at R250 000, and the SARS estate duty abatement and rates. Your Master’s office assessment and the executor’s actual agreement decide the real figures. Information, not legal advice.