Where an executor is appointed, that person is legally authorised to administer the estate and acts in a representative and fiduciary capacity. For an estate administered under section 18(3), a Master’s Representative acts under Letters of Authority instead of an executor being appointed.
The executor is responsible for taking control of estate property, collecting assets, dealing with valid liabilities, complying with tax and reporting obligations, preparing the Liquidation and Distribution account and ultimately distributing the estate according to the will or the law of intestate succession.
Family members and beneficiaries do not acquire authority to administer estate assets merely because they are related to the deceased or are named in the will. The Administration of Estates Act does allow limited steps before an executor or Master’s Representative is appointed, including measures to preserve assets and meet certain funeral or family needs. Estate assets should otherwise not be dealt with without proper legal authority.
An executor may use professional assistance, but remains responsible for the proper administration of the estate. When Wealth and Legacy Group drafts your will, it can take on the role of executor. It can also support you or your family’s appointed executor during administration, under a special power of attorney.
See also: Who handles deceased estates in South Africa? | Can a deceased estate be for sale?
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.