If you are inheriting from someone who passed away on or after 1 January 2018, don’t blame the estate’s executor for one substantially-increased cost you may notice – Master’s Office fees.
They are calculated on the value of the deceased estate and were long overdue for an increase, going up sharply from the old maximum of R600 to a new maximum of R7,000 (which will apply to any estate of R3.6m or more).
See the table below for details –
|Value of Deceased Estate||Master’s Fees|
|Before 1.1.18||From 1.1.18|
|R15,000 or more but less than R17,000||R42||–|
|R17,000 or more – R6 for each additional R6,000||+ R6 / R6,000||–|
|Subject to a maximum of||R600||–|
|R250,000 or more but less than R400,000||–||R600|
|R400,000 or more – R200 for each additional R100,000||–||+ R200 / R100,000|
|Subject to a maximum of||–||R7,000|