N.B a beneficiary may seek an exemption on the basis that the deceased owned the property in administration and it was the principal place of residence for both the deceased and the beneficiary. (Of course the beneficiary must establish that he was living there up to the time of the death of the deceased.)

The 1998 amendment has widened the category of persons who may seek this exemption to include:

Stamp Duty

Stamp Duty is payable on net market value of the estate. This duty is usually affixed to the document to be lodged in the Courts. Please note that where the property values under One Million Five Hundred Thousand Dollars (1.5 million) the matter is done in the Resident Magistrate’s Court. While any value over One Million Five Hundred Thousand Dollars (1.5 million) is done in the Supreme Court. The lodgment fee at the Supreme Court is $2000.00

Attorney’s Fees

Attorney’s fees are payable on the gross market value of the estate. Fees may vary from Attorney to Attorney, and therefore obtaining the best fee is really a matter of negotiation between Attorney and client. Please note that Attorney’s cost may include fees to obtain grant and to also transfer property to the beneficiary. All these costs are of course subject to GCT.

Executors’ Commission

By Law an executor is entitled to charge 6% commission on all monies “passing through” the executors hands. If there is more than one executor the commission will have to be divided equally. N.B an executor forfeits his commission if he is a beneficiary.