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Deceased estates

Deceased estate services


Administration of deceased estates

The administration of a deceased estate is the process of distributing the deceased's assets and paying the debts. The process must comply with the procedures prescribed in the Administration of Estates Act 66 of 1965.

Estate Process

  1. Upon death of a loved one
    1. To report the estate to EFBOE, the family must attend to the following:
      1. Obtain death certificate.
      2. Establish whether a Will exists and contact the nominated executor/company.
    2. Once the above is completed:
      1. Provide full details of all assets, liabilities, etc., as well as the supporting documents to the executor/company.
  1. Report estate to Master’s Office
    1. Nominated executor to establish:
      1. Is there a valid Will?
      2. Who are the beneficiaries in terms of the Will/Law of Intestate Succession where there is no Will?
      3. What are the assets and liabilities?
    2. Necessary reporting documents will be completed.
  1. EFBOE to arrange for executor’s appointment
    1. Necessary documents are submitted to the Master of the High Court, who will appoint the executor, where after the executor can proceed with the administration of the estate.
    2. Depending on the Master’s Office, there may be a delay in obtaining the Letters of Executorship/Authority. Once obtained, letters are sent to known debtors and creditors.
  1. Advertisement for debtors and creditors
    1. An advertisement must be placed in the Government Gazette and local newspaper, giving debtors and creditors 30 days to lodge any claims they might have against the estate.
  1. Interim administration process
    1. Executor must satisfy himself that the estate is solvent.
    2. Deal with assets.
    3. Pay creditors with proven claims.
    4. Submit final tax return.
  1. Liquidation and distribution account
    1. The liquidation and distribution account will reflect all the estate assets, liabilities, beneficiaries, as well as income and expenditure after date of death (if applicable).
    2. Advertisements are placed in the Government Gazette and local newspaper, giving notice that the liquidation and distribution account will lie for inspection for 21 days.
    3. The account can be reviewed and objections lodged with the Master of the High Court.
  1. Estate distribution
    1. Provide a cash statement.
    2. Inheritance or portion thereof is paid to heir.
    3. Assets are distributed and transferred.
    4. Obtain Tax Clearance Certificate (TCC) from SARS.
    5. Finalise estate.
  1. Close the file
    1. Request Master of the High Court for a Filing Notice.

Click here for the Estate Formalities brochure
Click here for a summary of The Estate Process

Reporting an estate to EFBOE

Please see our List of documents and information required when reporting an estate.

Complete/Request forms


FORMS TO BE COMPLETED

In order to prevent any delays in the administration of the estate, please ensure that all documents are completed correctly and in full. Click here for instructions on how to complete the forms.

WHERE EFBOE ÍS THE NOMINATED EXECUTOR, the following documents need to be completed:


  1. Estate Reporting Form
  2. List of documents and Information required
  3. Death Notice, Form J294
  4. Inventory, Form J243
  5. Affidavit Cause of Death
  6. Marriage Declaration
  7. Affidavit Master’s Office–Beneficiary
  8. List of Creditors
  9. Insurance Indemnity
  10. Next-of-Kin Affidavit, Form J192
  11. Beneficiary Questionnaire & Affidavit

WHERE EFBOE IS NÓT THE NOMINATED EXECUTOR, the following additional documents need to be completed by the nominated executor, if:


  1. Acceptance of Trust as Executor - Form J190

    EXECUTOR’S APPOINTMENT
    An estate with a gross value exceeding R 250 000.00.

    OR

  2. Undertaking and Acceptance of Master's Direction - Form J155

    SECTION 18(3) APPOINTMENT
    An estate with a gross value of R 250,000.00 or less.

    AND

  3. Power of Attorney
  4. Mandate
  5. Affidavit Master’s Office (to replace document No 7 above)
  6. Nomination to act as Executor (to be completed by all the heirs).

Documents A-F will be provided on request when applicable.

Contact EFBOE


PLEASE NOTE: In case of reporting via e-mail or fax, the original documents and original signed forms still need to be posted, preferably via registered mail, (to EFBOE, P.O. Box 17, Pinegowrie, 2123), as the estate cannot be reported to the Master of the High Court without it.

Please complete our contact form for any other questions you may have and we will get back to you as soon as possible.

FAQS

The death of any person who dies within the Republic of South Africa leaving any property, or any document being or purporting to be a Will, must be reported. The death of any person who dies outside the Republic of South Africa but leaves within the Republic any property or any document being or purporting to be a Will, must be reported. The death of a person is reported by completing and signing a death notice. It is important that the death is reported to the Master of the High Court within 14 days of the date of death.

The surviving spouse or if there is no surviving spouse, the nearest relative or connection residing in the district in which the death has taken place, must report the estate.
Funds will only be available once the executor is sure that the estate is solvent, with the provision that there are funds in the estate banking account.
The executor’s fee is 3.5% of the gross value of the assets in the estate plus VAT thereon. The current rate is set by Regulation 8(1)(b) in terms of Section 103 of the Administration of Estates Act, 1965 as amended.
The average time to wind up an Estate is plus minus a year. However, every Estate is unique with unique circumstances that would determine the time span.
The money will be deposited into the Guardian’s Fund on behalf of such an heir.
The heirs (family in case of no Will) can nominate a new executor or Master’s Representative. Only a spouse, child or parent is exempt from furnishing security for the appointment as executor, anyone other than these persons mentioned will have to furnish security. A trust company such as Efficient BOE (EFBOE) can act as agent for the nominated executor. EFBOE can also be nominated to take the appointment.

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JOHANNESBURG
Tel: +27 861 711 711
E-mail: dawiejhb@efboe.co.za

CAPE TOWN
Tel: +27 21 914 0835
E-mail: mariecpt@efboe.co.za