ADMINISTRATION OF DECEASED ESTATES

Stage 1:

  • Consultations with family, consideration of will and collect all relevant documentation and information.
  • Report the estate to the Master of the High Court. (approximately 6-8 weeks).

Stage 2:

  • Receipt of letters of executorship.
  • Advertise for creditors in newspaper and Government Gazette.
  • Open Estate banking account.
  • Obtain valuations/balance certificates
  • Preliminary letters to financial institutions/SARS (approximately 4-6 weeks)

Stage 3:

  • Collate assets, pay liabilities.
  • Consult with heirs – regarding the method of liquidation/redistribution.
  • Draft Liquidation and Distribution Account and submit to the Master
  • Estate Duty Return.
  • Submit final tax return (approximately 5-10 weeks).

Stage 4:

  • Liaise with Master regarding queries Liquidation and Distribution Account.
  • Lodge Account with the  local Magistrate
  • Advertise Account in newspaper and Government Gazette.
  • Deal with possible objections (approximately 4-6 weeks).

Stage 5:

  • Finalise tax and estate duty(including interest if applicable)
  • Distribute Assets.
  • Transfer immovable property.
  • Final accounts to heirs.
  • Submit Post –death tax returns and request tax clearance certificate
  • Master’s final requirements (approximately 4-6 weeks).

Note that each deceased estate is different just like the individual who passed away. There are many factors that can influence the administration process and accordingly the time it takes to finalise an estate.

“ Whilst all reasonable steps are taken to ensure the accuracy and integrity of information provided, no liability or responsibility whatsoever is accepted if information or data is, for whatever reason, incorrect. The information does not constitute proper legal advice and should not be relied upon for that purpose.”