PLEASE NOTE - this is my opinion and is not meant to do any advice there yet. The reader should mak

I recently heard on the radio of a person as executor of his late mother's e commerce estate was appointed. He has the services of a professional person is required to deal with the administration to help. The question was what is a reasonable fee for the services? The estate was a "simple" one with only one major asset, namely a house of about R8 million. Answer from the expert: a fee of 2% can be seen as fair.
Let's look at the percentage. The Law on Value Added determines a price to the consumer (ie retail price if true) is given inclusive e commerce of VAT if there is no reference to tax is not. Consumers should note, however, that the "2%" tax often still have to be added (this is another story for another day.). Including VAT comes the fee percentage e commerce therefore 2.28%. e commerce
The Rand value of the fee to get the total gross value of all assets in the estate determined. However, there are certain assets e commerce that do not fit into closed should be such as life insurance payable e commerce to beneficiaries. (See how the determination of the values is done in another post to this blog.) Take the example of the estate in the expensive house and accept that this house of R8 million the total value of the gross assets of the estate . The fee will be R 182 400.00 (which is 2.28% of R 8 million.)
This fee also includes some further smaller expenses such as advertising costs in it. When real property in the estate e commerce who were heirs transferred (this is where the real property is not sold from the estate) is that task is not part of the eksekuteursdiens and there is still an additional transfer cost to the seller be paid A sizable cost element can form.
Let us estimate the number of man-hours required for the completion of the above estate as 50 hours. The hourly e commerce rate will amount to R 3648 per hour. I expect that many people who deliver these services with my estimated number of hours will agree. Well I do not themselves completely agree with that - in my opinion it should be just about 25 hours to the above estate to a close! This will amount to an hourly rate of R 7296 per hour.
PROPOSAL: When negotiating an hourly rate coupled with a maximum number of hours with an expert. Make sure to understand exactly which services are delivered. An expert with experience should be a good estimate to do the number of hours that the administration will take a particular estate. Ask what services exactly to the quote included. The final income tax return's completion will often not the Executor included e commerce and will be a separate fee for it to be kept aside.
Related topics See also: The valuation of property in an estate and its effect especially on the executors. (Future topic Nonnie treated.) VAT and executors. (Future topic Nonnie treated.)
PLEASE NOTE - this is my opinion and is not meant to do any advice there yet. The reader should make sure that the difference is. In summary, you can not hold anyone accountable if you act in response to an opinion. The author took much care to ensure that any facts as accurately as possible. You are cordially invited to any of suggestions so that this blog more useful for something. There may also be examples discussed. No generalizations can be made of such examples, and the nature of the complexity of the administration will almost always exceptions to any rules may be. Therefore, each case on its own merits to be considered by an expert that all possible facts to consider to determine on that particular case will apply.
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