Administration of Deceased Estates

Professional estate administration services for a seamless resolution.

Swiftly resolve deceased estate matters with our expert administration services. We ensure accuracy, professionalism, and timely execution for peace of mind.

Our remuneration is regulated by the Master

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Deceased Estate

A deceased estate refers to all the assets, liabilities, and possessions left behind by a person who has passed away. This estate is administered by an executor, who ensures that debts are settled and remaining assets are distributed according to the deceased’s will or intestate succession laws if no will exists. In South Africa, deceased estates are subject to estate duty, capital gains tax, and other administrative processes regulated by the Master of the High Court and SARS.

What to do when Someone dies

When a person passes away in South Africa, their estate (assets and liabilities) is legally administered to ensure debts are settled and remaining assets are distributed to beneficiaries. The process involves:

Reporting the Estate – The death must be reported to the Master of the High Court, and if the estate is over R250,000, an executor is appointed.
Appointment of an Executor – The Master issues Letters of Executorship to the appointed person, who will manage the estate.
Identifying Assets and Liabilities – The executor compiles a list of the deceased’s property, bank accounts, debts, and other financial matters.
Settling Debts and Taxes – Outstanding debts, including funeral costs, loans, and SARS taxes (estate duty, capital gains tax, etc.), must be paid before distributing assets.
Notifying Beneficiaries – If a will exists, assets are distributed according to the will’s instructions. If there is no will, the Intestate Succession Act determines who inherits.
Estate Account Submission – A liquidation and distribution account is submitted to the Master for approval and published for public inspection.
Final Distribution – After approval, assets are transferred to beneficiaries, and the estate is closed.
The process can take several months to years, depending on the estate’s complexity. Professional assistance from a lawyer or tax practitioner is often recommended.

What does an Executor Do when someone dies

An executor is responsible for administering a deceased estate and ensuring that all legal and financial matters are settled. In South Africa, the executor’s duties include:

Reporting the Estate – Notify the Master of the High Court and apply for Letters of Executorship.
Identifying and Protecting Assets – Locate and secure the deceased’s assets, including property, bank accounts, investments, and personal belongings.
Notifying Creditors and Settling Debts – Publish a notice to creditors in the Government Gazette and newspapers, settle outstanding debts (including SARS taxes), and ensure liabilities are cleared.
Handling Tax Matters – Submit the final tax returns, pay any outstanding taxes, and obtain SARS clearance.
Distributing the Estate – Allocate assets to beneficiaries according to the will or Intestate Succession Act if no will exists.
Finalizing the Estate – Prepare and submit an estate account to the Master of the High Court for approval before final distribution.
The executor plays a crucial role in ensuring that the estate is settled legally and fairly. If the estate is complex, professional assistance from a lawyer or tax practitioner may be required.

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Pricing & Details

Pricing

Based on rates set by the Master of the High Court

Frequency

Ongoing, including quarterly estimates and annual filing

What you get

A dedicated tax advisor
A personalized tax optimization
Distribution Accounts
Transfer of Assets to Beneficiaries
Master of the Court filings

Families Seeking Independent Support When No Will Exists

Ensure fair and amicable resolutions for larger families with multiple dependents through our trusted, unbiased expertise in estate administration. Let BAMML Inc navigate disputes with professionalism and care.