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Standard Bank tells us what you need when winding up an estate

By Faeza
18 September 2015

To give you an idea of the process involved in winding up an estate, here is a list of what will need to be done by your executor:

  • The deceased’s estate must be reported to the Master’s office.

  • If the estate has a value exceeding R250 000.00, they will need:

  • The original will

  • A completed death notice form and a certified copy of the Death Certificate;

  • If the deceased was married at the time of death, a certified copy of the Marriage

  • Certificate and a declaration of marriage by the surviving spouse indicating how the deceased was married;

  • Two completed Acceptance of Trust as Executor forms;

  • A completed inventory list showing all the assets of the deceased

  • A certified copy of the Identity Document of the executor to be appointed.

  • An undertaking and bond of security may be required.

  • Once these documents have been fully completed, the Master will issue a Letter of Executorship to the executor. This letter will give the person the authority to act as executor of the deceased estate.

  • If the estate has a value less than R250 000.00, the same documents set out above except for the two completed Acceptance of Trust as Executor forms and the undertaking and bond of security.

  • In addition to all of the above the Master requires a list of the deceased’s creditors.