Administration process of a deceased estate

The duties of the executor are threefold, being the collection of all the assets, paying all creditors and distributing the balance to the heirs (in terms of the will or rules of interstate succession).

The basic process of administering an estate is a rather complicated and technical field of expertise. A sound knowledge of the underlying technical legal principals is needed on the part of the estate administrator.

The process consists of the following steps:

• First consultation with the next-of-kin of the deceased to get necessary information and to sign the necessary documents;
• Reporting of the estate by filing a death notice, inventory, original will and acceptance of trust as executor with the Master of the High Court;
• The opening of a main file and sub files for the estate;
• Writing of letters to debtors and creditors of the estate;
• Obtaining valuations for estate assets;
• Completion and lodging of income tax assessments;
• Placing of advertisement to debtors and creditors in the Government Gazette and a local newspaper;
• Opening of an estate cheque account;
• Deciding on a suitable administration process together with beneficiaries;
• The collection of sufficient cash and the payment of debts;
• Drafting and lodging of the Liquidation and Distribution account;
• Placing of advertisement in the Government Gazette and local newspaper that the Liquidation and Distribution account is lying for inspection;
• Payment of any outstanding debts as well as the payment transfer of legacies and inheritances to heirs;
• Paying of the Master's fees;
• Complying with Master's final requirements;
• Receipt of the Master's filing slip.