Breaking news: the value of “section 18(3) estates” increased to R250 000 with effect from today

Breaking news: the value of “section 18(3) estates” increased to R250 000 with effect from today

All deceased estates need to be reported to the Master of the High Court before the administration thereof can begin.

Up until now, the Master of the High Court would issue Letters of Authority to the “Executor” of the estate, if the total value thereof was less than R125 000. The administration process thereafter is less complicated and in principal means that the “Executor” is entitled to collect all asset of the deceased, pay all debts and pay the balance out to the heirs. No cumbersome process of advertisements in the tabloids, no waiting periods, no lodgement of a Liquidation account with the Master of the High Court, etc.

The minimum amount has now been increased by Government to R250 000! This means that many more smaller estates no longer have to follow the more complex route of administration and can be wound up in a very short space of time.

+27 12 643 1049

Learn More

For more information on:

Legal

How we use your information, and how you use our site:

Connect

Stay in the know with:

Get in touch

Speak to an advisor immediately

Stay Updated

Our newsletter will keep you in the know

Newsroom

Want the lastest fiduciary news and updates?

Directors

The executives in charge of your estate

Crest Trust Services (PTY) Ltd. is an Authorized Financial Service Provider with FSB No: 28966