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 funds are brought under the executor’s control and, subject to the Administration of Estates Act, are ordinarily dealt with through an estate banking arrangement. The issue of Letters of Executorship does not mean that the bank balance becomes immediately available for distribution to beneficiaries.

Where an executor is appointed, beneficiaries normally receive the bulk of their inheritance only once the Liquidation and Distribution account has completed the statutory process and become distributable. Before that stage, section 26(1A) permits the executor, with the Master’s consent, to release money or property considered sufficient for the subsistence of the deceased’s family or household.

Assets paid outside the estate follow their own rules. A life insurer can pay a validly nominated beneficiary directly once the insurer’s claim requirements are satisfied. Many retirement fund death benefits follow section 37C of the Pension Funds Act and can require an investigation into dependants and nominees before allocation. No reliable universal number of weeks or months should therefore be quoted.

See also: How long does a deceased estate take to settle? | How is a deceased estate distributed?

Disclaimer: The information provided here is intended as general guidance only and does not constitute legal, tax, or financial advice. Every situation is unique, and legislation is subject to change. We invite you to reach out to our team at Wealth and Legacy Group for guidance tailored to your specific circumstances.