How long does it take to finalise the administration process?

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The administration process is governed by various laws and regulations. To completely finalise an estate can take six to nine months, even longer, all depending on the complexity and co-operation received from institutions, as well as beneficiaries and/or family members. We will always strive to finalise an estate as soon as possible.

 

 

 

I do not have a Will - who will inherit my estate?

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An estate where the deceased died without a valid Will, is administered in terms of the Intestate Succession Act.This act determines who will benefit from the estate of the deceased. Due to the various scenarios that may exist, the exact allocation and determination of inheritance will be explained during the actual administration process

 

 

I have debt - will this be written off by institutions when I pass away?

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No. It is the duty of the executor to first pay any debt / claims against the estate from available estate funds, before an inheritance can be paid out or assets transferred. If you have credit life protection, this will be claimed and paid to the relevant institution upon acceptance of the death claim. 

 

 

Can I change the contents of my Will at any time?

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A Will may be amended by a testator at any time. However, it is imperative that any changes made comply with prescribed regulations, failing which such changes may be rejected by the Master of the High Court as invalid. Invalid changes may even render the Will invalid. We can assist you with the process to amend your Will should it be required. 

 

 

How much does the administration process cost?

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The fee for the administration process is known as the Executors Fee. The law prescribes a percentage of 3.5% (Exclusive of VAT) on the total value of the estate. Note that this is the gross value, not the nett value of the estate. However, an executor may consider a reduction of the fee should it be justified.