DECEASED ESTATES HELDERKRUIN

STEP 2:

REPORTING THE DECEASED ESTATE

• Deceased estates must be reported within 14 (fourteen days) of the date of death.
• The deceased estate must be reported to the Master’s office within the jurisdiction that the deceased lived in
• The estate must be reported by the Executor of the estate.
• The Executor of an estate can appoint an agent such as a law firm to assist in the reporting of an estate.

STEP 3:

APPOINTMENT OF AN EXECUTOR

WHO CAN BE AN EXECUTOR:

• A person can appoint an executor in terms of their Will.
• Where a person dies without a Will the heirs to the estate may nominate someone to the executor of the deceased estate.
• A nomination form must be completed by the heirs of the estate.
• An attorney can be nominated to be the Executor of a deceased estate. The attorney can be nominated in terms of a will or by the heirs to a deceased estate if the deceased died without a will.
• A family member can be appointed as the Executor and be assisted by an attorney who will act on behalf of the executors an agent

FUNCTION OF THE EXECUTOR:

• Settle the liabilities of deceased
• Open a bank account for the deceased estate
• Close the deceased bank accounts
• Collect the assets for the deceased estate
• Distribute the estate in accordance with the Will.
• Distribute in terms of the Intestate Succession Act.
• Making payments toward creditors.
• Sell or transfer the deceased’s property.

STEP 4:

Letter of Authority vs Letter of Executorship

1. DECEASED ESTATE LESS THAN R250 000.00 (Two hundred and fifty thousand rand) = LETTER OF AUTHORITY
2. DECEASED ESTATE TO THE VALUE OF R250 000.00 (Two hundred and fifty thousand rand or more = LETTER OF EXECUTORSHIP

STEP 5:

REPORTING DOCUMENTS

All estates regardless of their value needs to be reported.

All estates regardless of their value are required to complete the list of reporting documents below:

1. Nomination Form;
2. Next of Kin Affidavit;
3. Acceptance of Trust as Executor;
4. Death Notice;
5. A Declaration of Marriage by the Surviving Spouse indicating how the deceased was married
6. Inventory Form; Declaration confirming that the estate has not already been reported to another Master’s office or Service Point of the Master;

STEP 6:

DOCUMENTS THAT WE REQUIRE:

• Original Death Certificate;
• Identity Document for the deceased;
• Marriage Certificate if the deceased was married;
• The Will and Codicils left by the deceased;
• Proof of a customary marriage or registration of a customary marriage
• Declaration confirming the existence of a same-sex life partnership;
• List of deceased’s assets and liabilities (creditors);
• Certified Copy of the executors identity document;
• Signed Nomination form.

STEP 7:

LETTER OF EXECUTORSHIP

For further assistance with the procedures that follow after a Letter Of Executorship kindly contact our offices.

ADMINISTRATION OF A DECEASED ESTATE