The passing of a loved one, friend or close business associate is a very difficult time in every person's life. You not only have to deal with your own bereavement and the grief and bewilderment of family members, but you might also find yourself taking on the role of Executor of the deceased's estate.
The estate of a deceased person must be reported to the Master within 14 days from date of death.
This is in terms of the Intestate Succession Act, 81 of 1987.
( Estate Value greater than R 125 000 )
Undertaking and bond of security - J262 (unless the nominated executor has been exempted from furnishing security in the will, or is the parent, spouse or child of the deceased)
Certified copy of the ID of the person to be appointed as Executor.
What is a deceased estate?
A deceased estate comes into existence when a person dies and leaves property or a document, which is a will or is intended as a will. Such an estate must then be administered and distributed in terms of the deceased’s will or, in the absence of a valid will, in terms of the Intestate Succession Act,1989 (Act 81 of 1989). The procedure that must be followed to administer a deceased estate is prescribed by the Administration of Estates Act, 1965 (Act 66 of 1965), as amended.
Which deaths must be reported to the Master of the High Court?
The death of a person who dies within the Republic of South Africa and leaves property or any document that is a will or is intended as a will; and the death of a person who dies outside of the Republic of South Africa, but who leaves property and/or any document that is a will or is intended as a will, in the Republic of South Africa, must be reported to the Master of the High Court.
When and by whom must estates be reported?
The estate of a deceased person must be reported to the Master of the High Court within 14 days of the date of death. The death is to be reported by any person having control or possession of any property or documents that is or intends to be a will of the deceased. The estate is reported by lodging a completed death notice and other reporting documents with the Master, Estate Experts will take care of this for you.
What happens if I do not leave a will - (intestate succession)?
If you die without leaving a valid will, your estate will devolve in terms of the rules of intestate succession, as stipulated in the provisions of the Intestate Succession Act, 1987 (Act 81 of 1987). In case of a marriage in community of property, one half of the estate belongs to the surviving spouse and, although it forms part of the joint estate, will not devolve according to the rules of intestate succession. For more information on the Intestate Succession Act, please consult the Act or your legal representative.
How do you report an estate to the Master or to a service point of the Master of the High Court?
The reporting documents will differ slightly depending on the value of the estate and the type of appointment required. If the value of the estate exceeds R125 000, letters of executorship must be issued and the full process prescribed by the Administration of Estates Act must be followed. However, if the value of the estate is less than R125 000, the Master of the High Court may dispense with letters of executorship and issue letters of authority in terms of Section 18(3) of the Administration of Estates Act, (Act 66 of 1965). The Magistrates’ Office service points will only have jurisdiction if the deceased did not leave a valid will and the gross value of the estate is less than R50 000. Letters of authority entitle the nominated representative to administer the estate without following the full procedure set out in the Administration of Estates Act.