Deceased Estates

Deceased Estates

At MJA & Associates, we understand how difficult and emotional it can be to handle the legal affairs of a loved one who has passed away.That’s why we offer estate administration services to help you navigate through the complex legal and financial issues that arise during this time.

Deceased Estates & Executors

We specialize in the administration of deceased estates and assist executors in managing the legal complexities and responsibilities that come with this appointment.

Our experienced conveyancers will guide you through the process and ensure that your loved one’s wishes are honored in the administration and distribution process.

Our Estate Administration Services Include:

Estate Administration (of your late estate):

  • We assist with legal processes, including the Master of the High Court's supervision of the Liquidation and Distribution (L&D) account.
    Our advisors will help with tasks such as estate reporting and obtaining the final certificate of release from the Master’s Office.

Asset Distribution:

  • We work with you to identify and value assets and ensure they are distributed according to the Intestate Succession Act 81 of 1987 or the deceased’s will.

Deceased Estates Administration - Maintenance and Creditor Claims

We assist with creditor claims that may arise during the estate administration process. Our team will review all claims and resolve disputes to ensure the efficient administration of the estate.

Litigation and Dispute Resolution

  • In the event of disputes during the estate administration process, our attorneys are experienced in litigation and alternative dispute resolution.We can represent you in court or other proceedings to address and resolve conflicts.

  • At MJA & Associates, we are committed to providing compassionate and comprehensive estate administration services during this challenging time.
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  • A deceased estate comes into being when a person passes away and includes all their assets and obligations at the time of death.
  • This includes fixed property, cars, investments, loans, and bonds.

  • executor named in the will is responsible for managing and transferring the deceased's assets to the appointed beneficiaries.
  • The executor prepares an inventory of all the assets at the time of death and submits an L&D account to the Master’s Office for approval.
  • Once approved, the executor distributes the assets to beneficiaries after paying all estate debts.

  • The estate is distributed according to the Intestate Succession Act 81 of 1987.
  • Family members typically nominate a close relative (e.g., spouse or sibling) as the executor.
  • The Master of the High Court appoints the executor through a letter of executorship.
  • The executor prepares an inventory and values all assets and liabilities according to the Intestate Succession Act.

  • Section 18(3) Estate:
    Applies when the estate’s value is R250,000 or below. A letter of authority is issued, and no L&D account is necessary.
  • J190 Estate:
    Applies when the estate’s value exceeds R250,000. A letter of executorship is issued, and the executor administers the estate under the Administration of Estates Act 66 of 1965.

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Let us help you with Typical FAQ's such as

Executor Responsibilities

Master’s Rules for Estates Exceeding R250,000 When an estate exceeds R250,000, the executor is appointed by the Master’s Office to:
  • Control, protect, and transfer assets to beneficiaries according to the will or Intestate Succession Act.
  • Identify and value all assets and liabilities of the deceased.
  • Pay off debts reflected in the L&D account and distribute the remaining assets.

What is the role of the executor in a deceased estate?

The executor’s duties include:

  • Meeting with affected parties (e.g., spouse, children) and explaining their role.
  • Gathering and valuing all assets of the deceased.
  • Settling debts and distributing assets as per the will or applicable laws.

Executor’s Responsibilities for Taxes

The executor must account for four types of taxes that may apply to the deceased estate:

  1. SARS Income Tax – Outstanding taxes at the time of death must be settled.
  2. Capital Gains Tax – Applicable for property sales or other gains.
  3. Estate Duty – Subject to a R3.5 million rebate.
  4. Donations Tax – If applicable.

Deceased Income Tax Obligations to SARS
The executor must reconcile the deceased’s tax position and submit an Estate Duty Declaration after the L&D account is finalized.
Any outstanding taxes will impact the amount available for distribution to beneficiaries.

Estate Duty
Estate duty applies to estates exceeding R3.5 million. For estates below this threshold, no estate duty is required.

Tax Planning
Proper estate planning can minimize tax implications, ensuring more proceeds are available for beneficiaries.

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By viewing this website you agree that no Lawyer-Client relationship is intended or created. The content within this website is informational and general in nature only. The information contained herein may not reflect the most current legal developments, is not intended to constitute legal advice and should not be used for this purpose. Visitors to this website should not act on any of the information contained herein without first obtaining qualified legal advice.

 

Rutivista Pty Ltd Registration No 2019/585150/07 .T/A MJA & Associates All Rights Reserved.

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