Will and Estate Lawyers
A deceased estate consists of the assets and debts of a deceased person. The process of managing and distributing these assets is called estate administration.
Estate administration includes collecting the assets of the deceased person, paying off any debts and taxes, and distributing the remaining assets to the beneficiaries according to the terms of the will of the deceased or in terms of the Wills Act of 1953 if the deceased died without leaving a valid will.
The deceased estate can also be concluded in terms of both a valid will and the Wills Act, in the event where it is found that certain of the provisions of the will are either invalid, vague, in contradiction to the provisions of the Constitution, immoral or if the deceased testator did not allocate certain assets of the deceased estate.
PORTANT LEGAL FACTORS IN DEALING WITH DECEASED ESTATES
Reporting The Deceased Estate
The deceased estate should be reported to the Master of the High Court, within 14 days from the date of the death. The Master of the High Court in the vicinity or jurisdiction of where the deceased lived, should be approached. A spouse or any close relative or a friend can report the deceased estate. The Executor of the deceased estate can also report the deceased estate, where the deceased appointed an Executor in a valid will.
Role Of The Executor
An Executor is nominated by the testator/ deceased and should thereafter be formally appointed by the Master of the High Court. The person nominated in the will must therefore apply to the Master of the High Court and s/he should receive an appointment letter, before the Executor can wind up and finalise the deceased estate. It should be noted that the Master of the High Court may be decide not to appoint the Executor that the testator nominated or the Master of the High Court may appoint an attorney or an expert in deceased estates, to assist the Executor in her/ her duties.
Disinheriting A Spouse
We respects the freedom of a testator to allocate and deal with an estate as s/he pleases. A testator may however not ignore his/ her legal and contractual obligations and this includes the legal obligations to pay maintenance to surviving children and spouses, who have a rightful claim to such maintenance. The Maintenance of Surviving Spouses Act 27 of 1990 provides that the surviving spouse has a claim against the deceased estate for maintenance until his/ her death or re-marriage.
Time Period For Winding Up A Deceased Estate
A deceased estate can be finalised within months and sometimes it can takes years. We understand that every deceased estate is different, owing to the provisions of the will, the nature of the assets, family dynamics and more. We are experienced in estate planning and the winding up of deceased estates.