Be Prepared for The Cost of Dying

KVV Inc Attorneys

Published on: 04/03/2025

Death's inevitability, as Margaret Atwood notes, underscores the need for estate planning. Beyond the emotional loss, families face financial burdens. Executor fees (up to 4.025% of the estate), taxes (estate duty up to 25% above R30 million, capital gains, income tax), and outstanding debts (including mortgages) must be settled. Insufficient cash can force asset sales, adding stress. Life insurance can alleviate this by providing immediate funds, ensuring a smoother transition for loved ones. Consult your attorney for personalized advice.