Description
When someone dies, what happens next?
The administration of a deceased estate can involve the Master of the High Court, an appointed executor, financial institutions, SARS, creditors, beneficiaries and professional advisers.
For a family already dealing with a loss, unfamiliar terminology, forms, legal notices and statutory procedures can make the process difficult to understand.
This 21-page guide provides a clear, factual overview of how deceased estates are administered in South Africa—from the initial reporting of the death to the final distribution of the estate.
What the guide covers
- Reporting the estate and determining the correct Master’s Office
- The death notice, original will, inventory and supporting documents
- How an executor or Master’s representative is appointed
- Letters of Executorship and Letters of Authority
- Opening an estate bank account
- Advertising for creditors
- Identifying and collecting assets
- Establishing liabilities and administration expenses
- Life policies, retirement-fund benefits and beneficiary nominations
- Property, business interests and other special assets
- The structure and purpose of the Liquidation and Distribution Account
- Inspection periods, objections and amendments
- Income tax, Capital Gains Tax and Estate Duty considerations
- Distribution to beneficiaries and finalisation of the estate
- A practical overview of the statutory process and important records
Understand the process before important decisions are required
The guide is designed to help executors, representatives and family members understand the sequence of events, the documents that may be requested and the different parties involved.
It can also help you organise questions and records before meeting an executor, attorney, accountant, tax practitioner, financial adviser or other relevant professional.
Digital format
You will receive a downloadable 21-page PDF that can be saved and printed for personal reference.
Important information
This guide provides general educational information only. It does not constitute personalised legal, tax, accounting, financial or estate-administration advice.
Requirements may differ according to the value, assets, liabilities and circumstances of an estate. Legislation, regulations, forms, fees and official procedures may also change. Confirm the current requirements with the Master of the High Court, SARS and appropriately qualified professionals.
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