Deceased Estates

The process of the administrating a deceased estate can be a stressful and long process. The finalisation of a deceased estate can take anything from between 6 to 12 months and in some cases even longer. Information needs to be gathered, advertisements needs to be placed in the local newspaper and in the Government Gazette, timelines have to be met and accounts have to be drawn up to mention just a few tasks involved with the administration of an deceased estate.

 

We understand that when dealing with the loss of a loved one, you do not have the time or the energy to struggle with the administration of an estate. This is exactly why we are here to assist you. Allow us to handle the administration process while you focus on the important things in life.

 

Willem Jacobus Human, an attorney from Human Attorneys, obtain his LLB as well as his Masters Degree in Estate Law from the North-West University in Potchefstroom. Carla Schoeman is a Certified Financial Planner and one of the founders of Titanium Financial Planners with an LLB, Post Graduate Diploma in Financial Planning and is a member of the Financial Planning Institute of South Africa (FPI) as well as a member of The Fiduciary Institute of South Africa (FISA).

 

The administrating of a deceased estate will to a large extent depend on certain factors. Factors such as the gross value of the estate. If the gross value of the estate is less than R 125 000.00 the relevant master of the High Court will prescribe the procedure to be followed. These types of estates is commonly known as section 18(3) estates and the procedure to administer these estates is normally simpler and faster as in other cases.

 

In the event that the gross value of the estate is more than R 125 000.00 the procedure to administer the estate is more complex and time consuming. Advertisements needs to be placed and liquidation and distribution accounts needs to be prepared and approved by the relevant Master of the High Court to mention just as few aspects that needs to be dealt with.

 

A further factor that needs to be taken into account is whether or not there is a valid Will. If the deceased did in fact have a valid Will, the distribution of the estate will take place in accordance with the provision of the said Will, provided the provisions are within the limits of the law. If the deceased passed away without a Will, distribution of the estate will be in accordance with the relevant laws of intestate succession as prescribed by the Intestate Succession Act 81 of 1987.

 

Our goal is to handle and finalise the administration process of deceased estates in the most professional manner possible and to provide you with the best possible service and advice. Whether or not the deceased estate is a section 18(3) estate or whether or not the deceased left a valid Will we are here to provide assistance in the administration procedure of deceased estates. Our consultations are free of charge. Kind regards.

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