Two things are certain in life, death and taxes
When last have you reviewed your will?

Perhaps you need assistance with the administration of an estate of a deceased person.

Or perhaps you need help and advice on a curatorship.

Perhaps you are not up to speed with the adverse effects of Capital Gains Tax in a deceased estate.

This is an aspect of life that an average citizen would not normally think about. Yet, when it happens, the experience is so traumatic, that we are left wondering "where to now?". A host of questions follows and this may lead to confusion, especially in circumstances where the spouse that attended to the household financials is the one that passes on, or even when the deceased had run a business of sorts
What follows is a brief outline of the process that is followed:

Once we have been notified of the demise, we will arrange a mutually convenient time and place to consult with the family. It is advisable, though, to have the funeral arrangements finalised by the time we consult with the family unless, of course, dispositions regarding the disposal of mortal remains are required, in which case, we will require a copy of the Death Certificate prior to releasing the information. A Will remains a confidential document

A more detailed overview can be accessed here.

Your executor will require certain documents and information - click here to access this list.

A brief overview of an executor’s duties are to:

• Take control of all assets of the estate – in cases where the spouses were married in community of property, the surviving spouse’s assets will be included, this includes any rights of action. (e.g. sale of fixed property whre the sale has not been registered in the Deeds Office).
  
• Preserve the assets.
  
• Carry out the terms of the Will of the deceased within the framework of current legislation.
  
• Realise of the assets as may be necessary for the payment of the costs of administration and to settle any outstanding debts.
  
• Determine the beneficiaries of the deceased.
  
• Distribute or hand over the remaining assets to the beneficiary(s).
  Executor's fees are governed by Law that currently dictates our fees as :

3,5% of the gorss asset value of the estate, excluding VAT and
6% of any income collected on any of the assets, again excluding VAT.

ExecTrust Administrators (Pty) Ltd

4 Queens Road Bryanston 2021

P O Box 1663 Jukskei Park 2153

Tel 0860 387 878

Fax 086 500 8850

E-mail info@exectrust.com