From a beneficiary’s perspective, an estate is effectively “settled” when the statutory administration has progressed far enough for the executor to pay creditors and distribute the inheritance in accordance with the Liquidation and Distribution account. There is no statutory minimum…

Any person or institution with a legally enforceable claim against the deceased or the estate can potentially lodge a claim. Common examples include banks, lenders, trade creditors, landlords, SARS and private persons to whom money is owed. Where an executor…

A deceased estate comprises the assets, liabilities, rights and obligations that must be administered after a person dies. It can include immovable property, bank accounts, investments, vehicles, personal effects, business interests, loan claims, debts, taxes and other obligations. A deceased…

The Master of the High Court supervises deceased estate administration in South Africa, while the executor or Master’s Representative carries out the administration. Where an executor is appointed, the executor collects and safeguards assets, advertises for creditors, deals with claims…

There is no single release date because different assets follow different legal processes. Money in the deceased’s bank accounts is generally frozen against ordinary personal use after the bank becomes aware of the death. Once the executor is appointed, estate…

The rightful heirs or beneficiaries are determined first by any valid will and, to the extent that the estate is not validly disposed of by a will, by the Intestate Succession Act 81 of 1987. Where a valid will applies,…

A deceased estate is not a juristic person that independently enters into a loan in the same way as a company. Any financing must be arranged by the executor in the executor’s representative capacity and within the executor’s legal powers.…

A deceased estate itself is not “for sale” as a legal entity, but assets forming part of a deceased estate can certainly be sold during administration. This most commonly refers to a property marketed as a “deceased estate sale”. The…

Where the gross value of a deceased estate does not exceed R250,000, the Master may apply the simplified procedure in section 18(3) of the Administration of Estates Act. Instead of appointing an executor and issuing Letters of Executorship, the Master…

Immovable property belonging to a deceased estate must be dealt with through the estate administration process and transferred through the Deeds Office by a conveyancer. If the property is awarded to an heir in the Liquidation and Distribution account, section…