What is Deceased Estate Administration?
Deceased estate administration, often referred to simply as estate administration , is the process of managing and distributing a person's assets and liabilities after they have passed away. It involves several legal and financial steps to ensure that the deceased's wishes or the law are carried out.
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Dying with a Will
(Testate)
A testate estate refers to the estate of a deceased person who left behind a valid will outlining how their assets are to be distributed after their death. When a person dies testate, it means they had a will in place at the time of their death, which specifies who will inherit their property, money, possessions, and other assets, as well as who will be responsible for managing the estate (executor or personal representative). The terms of the will dictate how the estate is distributed, and the Masters oversees the process to ensure that the deceased's wishes are carried out correctly
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Dying without a Will (Intestate)
An intestate estate refers to the situation where a person dies without having made a valid will or other estate planning documents to dictate how their assets should be distributed after their death. In such cases, the distribution of the deceased person's assets is governed by the Intestate Succession Act
Letters of Executorship v Letters of Authority
For gross value of assets valued less than R 250 000.00 letters of Authority are issued and a simpler process is followed, estate fees are less.​
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For estates valued more than R 250 000 letters of Executorship are issued and the process is more complex, Estate fees are higher (3.5% on the gross value of the estate)
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