ENSafrica explains dissolution of an estate without a will
Many people often wonder what happens to the estate of their deceased loved one if he passed away without a formal will and ENSafrica explains the process.
Estate officer at ENSafrica’s Private Clients Department Jena Smith writes:
This article will provide a brief summary of the estate administration process.
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When someone dies without a will, the assets of their estate, after all, debts have been paid, will be distributed according to the provisions of the Intestate Succession Act of 1987.
When someone dies with a will, the assets of their estate (after all debts have been paid) will be distributed according to the provisions of their will.
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When a deceased estate is reported to the Master [of the High Court] there are several forms that need to be completed and supporting documents submitted. These forms are available on the Master’s website: DO&JCD: Master/Forms (justice.gov.za).
An executor is appointed either in terms of the will of the deceased person and if the deceased person did not have a will or the will did not provide for an executor to be appointed, the deceased’s family can nominate an executor. This is done on a standard form from the Master.
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Once the estate has been reported the Master will either issue Letters of Executorship (which appoints an executor) if the estate is valued at over R250 000 or Letters of Authority (which appoints a Master’s representative) where an estate is valued below R250 000.
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It is the responsibility of the executor or Master’s representative (or their nominated agent such as an accountant or attorney) to attend to the administration of the estate. The estate administration process involves collecting the assets that belong to the deceased, paying off any debts the deceased owed and distributing the balance according to either the will of the deceased or the Intestate Succession Act.
It is helpful to get assistance from someone who specialises in estate administration to assist with this process.
On a practical note, it is difficult when a loved one passes away and sometimes the estate administration process can seem overwhelming to those left behind. It is important to make sure your affairs and will are in order, to help your family finalise your estate swiftly once you are no longer around.
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