Financial Planning
Cover the legal fees associated with a deceased estate
When you pass away, your estate will incur fees and your family could end up having limited access to funds. The Sanlam Legacy Plan is an effective planning tool that covers the deceased estate’s fees and protects your surviving family from unforeseen financial stresses. The plan includes a number of benefits:
Why a Sanlam Legacy Plan
Indemnity Benefit
Cover for the legal fees such as executor, conveyancing and testamentary trust fees applicable to your estate.
Immediate Liquidity™
An amount paid to your beneficiary within 48 hours after death to cover immediate costs such as funeral expenses, travel arrangements and groceries.
Estate Overheads Protector™
An amount paid to your estate for the executor to cover expenses such as Master’s fees, correspondence fees, property clearance certificate and advertising costs.
Estate Gap Cover™
An amount paid to the last surviving spouse’s estate to cover increased costs like inheritance taxes should both spouses die.
Fees
What are the fees related to estate planning?
The Sanlam Legacy Plan can cover up to 100% of estate planning fees with a personalised and affordable monthly fee, starting from only R107 per month.
Policies that pay into your estate may incur additional executor fees. A Sanlam Legacy Plan can reduce these fees, allowing your beneficiaries to receive an additional 4% in their payout.
Leave you details below to be contacted by expert consultants to learn more about these fees.
The Sanlam Legacy Plan™ is underwritten by Guardrisk Life Ltd, a Licensed Life Insurer.
Executor fees
Executor fees are paid to the executor of an estate to administer the affairs and distribute assets according to the terms of the will or applicable laws.
Conveyancing fees
These fees typically refer to the costs associated with transferring the ownership of real property (such as land, buildings, or houses) from the deceased person’s estate to the beneficiaries or new owners.
Testamentary trust fees
This is the fee charged by the trustees to administer the trust you create in terms of your will, normally to look after the money you leave to your minor children. There will be a charge on net asset value to establish the trust, and an annual fee applicable for the ongoing administration of the Trust.
Immediate expenses
Costs associated with arranging a funeral such as catering, travel and other immediate expenses. These fees eat away at the legacy you plan to leave behind.
Why Choose Sanlam Legacy
A one-stop suite of services
From wills and purpose-driven trusts, to estate administration - Sanlam Legacy offers a full range of services.
Estate Administration
Our services provide the flexibility to choose any executor and ensure that our established in-house professionals will manage the process.We also offer the option of covering costs up to 100% upfront.
Wills
With access to a specialist consultant, free collection and safekeeping, and unlimited amendments at no cost, our services provide an easy and stress-free way to secure your will.
Beneficiary Care
As one of the top beneficiary funds in the country, our philosophy of beneficiary care goes beyond strict governance and oversight and into holistic financial wellbeing for our beneficiaries.
Estate Administration
Our services provide the flexibility to choose any executor and ensure that our established in-house professionals will manage the process.We also offer the option of covering costs up to 100% upfront.
Wills
With access to a specialist consultant, free collection and safekeeping, and unlimited amendments at no cost, our services provide an easy and stress-free way to secure your will.
Beneficiary Care
As one of the top beneficiary funds in the country, our philosophy of beneficiary care goes beyond strict governance and oversight and into holistic financial wellbeing for our beneficiaries.
Faqs
Questions on estate administration
Is there a cash benefit in my plan?
Yes, there is. This is the Immediate Liquidity™ value stated on your plan schedule that will be paid once the claim has been approved, should the plan be in force. This amount is paid to your beneficiary within 48 hours to cover immediate costs such as funeral expenses, travel arrangements and groceries.
Can I choose any executor or does it have to be Sanlam Trust?
You can nominate any executor you wish, however, we encourage you to default Sanlam Trust as the nominated and trusted executor. With years of experience in the administration of estates, as well as in-house professionals countrywide, we are dedicated to ensuring the process runs smoothly and efficiently, helping your loved ones get through the difficult time.
Can a Sanlam Legacy Plan be upgraded or downgraded?
Yes. An upgrade or downgrade refers to any variation that results in an increase to either the current total cash benefit value or to the current total value of indemnified benefits under your plan.
I have life cover, why would I need a Sanlam Legacy Plan too?
We often see life cover being paid into the estate to cover the legal fees at death such as executor conveyancing and testamentary trust fees. This often leaves families exposed to excessive debt and other financial needs that cannot be provided for sufficiently. With the Sanlam Legacy Plan in place, these legal fees are indemnified, offering peace of mind to families who are left behind.
Draft your will today
Get in touch to find out more
Complete the form to be contacted.
Download the Sanlam Legacy Plan brochure
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