TYING UP LOOSE ESTATE ENDS
When a loved one leaves this world, they don’t take any of their belongings or positions.
Estate planning isn’t for the wealthy and well to do. It is vital if one has dependents and should be considered by all, the moment they start to acquire assets.
This benefit gives the main member access to an Estate Administration Firm, contracted by the company, to help wind up and finalise their estate upon his/her death, as prescribed by the Administration of Estates Act, No. 66 of 1965.
Plan A
In the event of an Estate, to which the value of assets are lower than R 350 000, this benefit will cover all legal costs in the administration of the estate. The deceased estate, or heirs of the deceased, will be accountable for any added costs for transfer of property, if applicable.
Plan B
In the event of an Estate, to which the value of assets higher than R 350 000, this benefit will cover all legal costs in the administration of the estate. However, the deceased estate, or heirs of the deceased, will be accountable for an excess payment calculated on the gross value of the estate assets and any added costs for transfer of the property, if applicable.