Legal Will and Deceased Estate Administration in South Africa

Trust Administration Fees

INTRODUCTION

A trustee's fiduciary responsibility when offering services encompasses a duty to act in the best interests of the beneficiaries with utmost loyalty and care. This includes managing assets prudently, avoiding conflicts of interest, and making decisions that prioritise the beneficiaries' needs above their own.

The trustee must ensure transparency by providing accurate and timely information and maintain confidentiality of sensitive information. Additionally, they are obligated to follow the terms of the trust document and adhere to relevant laws and regulations. Failure to fulfill these duties can result in legal consequences and loss of trust from the beneficiaries.

Our services are meticulously designed to fulfill and exceed the fiduciary responsibilities entrusted to us. We prioritise the best interests of our clients by implementing rigorous asset management strategies that ensure prudence and growth. Our commitment to transparency and ethical conduct guarantees that all actions and decisions are communicated clearly and honestly, fostering trust and confidence.

We diligently avoid conflicts of interest, maintaining an unwavering focus on our clients' needs and goals. Additionally, our adherence to the terms of the trust documents and compliance with all relevant legal standards underscores our dedication to upholding the highest standards of fiduciary duty. By choosing our services, clients can be assured that their interests are safeguarded with the utmost integrity and professionalism.

TABLE OF CONTENTS:

TRUST ADMINISTRATION SERVICES & FEES
SERVICES:		MEMBERS	NON-MEMBERS
Trust Formation [ myPRO HERITAGE PRESERVATION TRUST ]	Drafting the trust deed, registering the trust, and ensuring all legal requirements are met.	FREE	R 15 000
Trust Formation [ myPRO GUARDIAN TRUST ]	Drafting the trust deed, registering the trust, and ensuring all legal requirements are met.	FREE	R 10 000
Trust Formation [ OTHER TRUSTS ]	Drafting the trust deed, registering the trust, and ensuring all legal requirements are met.	R 4,000 - R 8,000 (one-time fee)	R 12 000 (one-time fee)
Executor Services [ ON 'LATE ESTATES' ]	Estate administration services are available to wind-up the deceased estate outside of any MyProtector estate administration policy.	2.5% on estate value (excl VAT)	3.5% on estate value (excl VAT)
Conveyancer Services	Conveyancing attorneys services are available when wind-up the deceased estate or as a stand-alone service.	40% discount on rate table	Std regulation rate table
Trustee Services	Acting as a trustee or assisting trustees in managing the trust.	* Included in annual administration fee	* Included in annual administration fee
Asset Management	Overseeing the management and investment of trust assets.	* Included in annual administration fee	* Included in annual administration fee
Accounting and Reporting	Preparing and maintaining financial records, providing regular reports to beneficiaries.	* Included in annual administration fee	* Included in annual administration fee
Tax Compliance	Handling tax filings and ensuring compliance with tax laws.	* Included in annual administration fee	* Included in annual administration fee
Distributions	Managing the distribution of trust income and capital to beneficiaries.	* Included in annual administration fee	* Included in annual administration fee
Legal Compliance	Ensuring adherence to legal and regulatory requirements.	* Included in annual administration fee	* Included in annual administration fee
Dispute Resolution	Addressing and resolving disputes among beneficiaries or trustees.	R 1,000 per hour (if needed)	R 2,500 per hour (if needed)

FEE STRUCTURE:		MEMBERS	NON-MEMBERS
* Annual Administration Fees	Ongoing fee for managing the trust, as a percentage of the trust’s assets.	0.5% - 1.5% of trust assets per annum	1.5% - 2.5% of trust assets per annum
Hourly Rates	For additional services outside regular administration.	R 1,000 - R 2,000 per hour	R 2,500 per hour
Flat Fees	For specific tasks such as filing tax returns or preparing annual accounts.	R 1,000 per task	R 1,500 per task