ESTATES
The winding-up of an estate actually runs hand in hand with having a will. The cost of winding up the estate (we refer to it as the cost of dying) can only be properly determined if a proper will is in place. The following costs are normally associated with winding up of an estate:
- Liabilities – We determine this by doing a proper estate analysis, the result of which is the contents of your will.
- Estate duty - We determine this by doing a proper estate analysis.
- Funeral costs.
- Masters Fees.
- Capital Gains Tax. We determine this by doing a proper estate analysis.
- Executors Fees. These are levied at 3.5% plus VAT but are negotiable depending on the size of your estate. This is also determined by doing a proper estate analysis and can be reduced by implementing an estate plan.
- Lump sums bequeathed to heirs. This must be provided for in the will and determined after the costs in 1-6 above.
Our estate analysis is free of charge if you should become our client.