We offer complete services in reporting and assisting with all aspects of winding up a Deceased Estates. Our services including assisting the relatives with the initial questions and peace of mind, ensuring cash flow for the relatives, reporting of the Estate speedily, corresponding with all Debtors and Creditors, filing the Estate Duty Return and concluding the Deceased Income Tax affairs, etc.
We loosely work with the relatives and heirs in order to provide them with progress and understanding their needs, but still, we take on all administrative processes not to burden them with same in the difficult time.
The Winding up of a Deceased Estates process involves:
Reporting the Estate to the Master:
Filing of the Will, Death Certificate, and other supporting documents. At this stage, the Estate number is issued and the Executor appointed.
First Notice to Debtors and Creditors of the Estate:
A notice in a local newspaper and the Government Gazette must be placed to notify all known and unknown Debtors & Creditors in the Estate. The Notice period is 30 days.
The assets and liabilities position of the Estate is also determined.
The Liquidation & Distribution Account is prepared:
In the Account, all assets, claims in favour are mentioned, also all claims against the Estate, Administration costs of the Estate and how the net estate will inherit to the heirs in terms of the Will.
The Notice that the Account will lay for inspection:
A notice in a local newspaper and the Government Gazette must be placed to notify all interested parties that the account is available for inspection. The Notice period is 21 days.
The Estate can now be finalized- all creditors and administration costs can be paid and the distribution to the heirs and transfer of assets to them can take place.