Marguerite Badenhorst
Luttig Badenhorst Fourie Attorneys
I
t is advisable to consult an attorney to draw up your will
and it is recommended that
your attorney is nominated as
the Executor of your estate in your
will.
Your attorney:
will advise you on any potential
problem which may arise;
Will deal with any legal issues
that might be encountered;
has the necessary knowledge to
ensure that your will is drawn in
accordance with your instructions, and
will ensure that your will has
been properly executed and is
valid and binding in terms of the
Wills Act.
What will happen to my estate
and assets after I die?
The best way to ensure that after
your death your assets are distribut-
ed according to your wishes and
instructions is to draw up a will.
This gives you the opportunity to
appoint an Executor to deal with
your assets. If you die without a
valid will your family might suffer
inconvenience and even severe
hardship.
assets or a will, the surviving spouse
– or if there is no surviving spouse,
the nearest relative residing in the
district in which the death has taken place – must within 14 days
from the date of death, report the
estate in the prescribed manner to
the Master of the High Court.
Where a person dies without leaving a valid will, the estate will devolve in accordance with the Intestate Succession Act. The estate will,
in such circumstances, devolve upon the surviving spouse or the surviving spouse and children of the
deceased and grandchildren (where
a child has predeceased the deceased). Where there are no descendants, the parents will inherit,
and in their absence, the brothers
and sisters will inherit.
After the estate has been reported,
the Master appoints an Executor by
issuing a Letter of Executorship (if
the deceased’s assets have a gross
value of more than R250 000) or a
Letter of Authority (if the deceased’s assets have a gross value
of less than R250 000- this is called
a Section 18 Estate). If the value of
the estate is more than R250 000
an attorney must assist the executor
in the administration of the estate.
How does the administration of a
deceased estate start?
When a person dies leaving any
Your attorney has the skill and expertise to assist you with the preparation of the necessary reporting
documents and to attend to the