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.
