Hi All,
Any Will or Estate experts on the forum?
I am trying to figure out how the fees structure and taxes are calculated. See example below:
Estate value:
4m net (After all debts are paid)
-3.5m estate allowance
= R500k, this will incur the 20% estate duty of 100k.
If I left the remaining 400k to my brother for example, will I pay a further 20% donations tax?
Also, If I have life cover with my son as the beneficiary, will that incur both the estate duty and donations tax?
Any Will or Estate experts on the forum?
I am trying to figure out how the fees structure and taxes are calculated. See example below:
Estate value:
4m net (After all debts are paid)
-3.5m estate allowance
= R500k, this will incur the 20% estate duty of 100k.
If I left the remaining 400k to my brother for example, will I pay a further 20% donations tax?
Also, If I have life cover with my son as the beneficiary, will that incur both the estate duty and donations tax?