Reporting the Estate
The most important documents to be submitted to the Master of the High Court are as follows:
- Original will of the deceased
- ID copies of deceased and executor
- Death certificate
- Death notice
- Acceptance of executorship
- Marriage certificate
- Antenuptial contract
The total value of the deceased’s assets on date of death will determine whether the executor or agent should apply to the Master of the High Court for the issuance of a section 18(3) authorisation letter (assets below R250,000) or a letter of executorship (assets above R250,000). The issuing of a section 18(3) authorisation letter or letter of executorship may take anything from four to eight weeks. Once the Master has issued either of the letters, the executor and/or agent has authority to stand in the shoes of the deceased and to connect all the wires to complete the estate administration process. Thus it is very important to be patient when the estate administration process commence.
To conclude our first step in the estate administration process, we thought it would be of significant value to attach a basic schematic representation after each article in our series that will serve as an illustration of where we are in the process. In addition, this schematic illustration can be used to easily lead you through the process and the basic steps that need to be followed when a loved one passes away.
Step 1: Reporting the Estate
Time scale: 4-8 weeks
Our fiduciary team at Boshoff Visser Konsult has decades of experience in estate administration and is professionally equipped to assist you with any matters related to or in connection therewith.
Please contact one of our expert advisors for further information.
The above-mentioned is for information purposes only and is in no way advice. Boshoff Visser Konsult (Pty) Ltd. encourages readers to get in touch with an expert financial advisor before making any decisions.
Article written by Reghardt Draper