F.A.Q - Executor Roles and Responsibilities

An Executor can be named in the will or nominated by heirs if there’s no will. They must be over 18, mentally capable, and not insolvent. For estates over R250,000, lay Executors often need professional assistance.

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An Executor reports the estate to the Master of the High Court, compiles an asset inventory, pays debts and taxes, distributes assets per the will or Intestate Succession Act, and submits a Liquidation and Distribution Account (if required).

Overwhelmed by Executor duties? Louwrens Koen Attorneys can help.

Not mandatory, but an attorney is recommended for estates over R250,000 or complex cases. They ensure compliance with the Administration of Estates Act, manage legal documents, and handle disputes or creditor claims.

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Executors receive 3.5% of the estate’s gross asset value, 6% of income collected post-death, and a minimum fee of R350. VAT may apply if the Executor or their agent is VAT-registered.

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Executors typically have 6 months to submit a Liquidation and Distribution Account for estates over R250,000, and 2 months to distribute assets after approval. The entire process often takes 6–36 months, depending on complexity.

Facing delays? Contact Louwrens Koen Attorneys for efficient administration.

Yes, the Master or High Court can remove an Executor for negligence, misconduct, or incapacity. Beneficiaries or interested parties can apply for removal, providing evidence to support their claim.

Executor issues? Louwrens Koen Attorneys can assist with legal solutions.

 If an Executor declines the role, they must formally renounce it in writing to the Master of the High Court. The Master then appoints an alternative, such as a nominee from the heirs or a professional.

Need a new Executor? Contact Louwrens Koen Attorneys for seamless transitions.

For estates over R250,000, Executors must provide security (e.g., a bond) to the full estate value, unless exempted by the will or if they’re the deceased’s parent, spouse, or child.

Unsure about security? Louwrens Koen Attorneys can clarify requirements.

n South Africa, whether you need to open an estate account after someone passes away depends on the value of their assets. According to the Administration of Estates Act 66 of 1965, an estate account—often called an "Estate Late" bank account—is required if the deceased left assets worth at least R1,000 that need to be managed. 

This account is opened and handled by the executor or administrator appointed to settle the estate.

When It’s RequiredIf the deceased had assets like money, property, or investments totaling R1,000 or more, opening an estate account is a legal necessity. 

The account serves key purposes:
Transparency: It keeps all estate transactions clear and traceable.
Debt Settlement: Funds are used to pay off any debts or liabilities.
Distribution: Remaining assets are then distributed to heirs or beneficiaries.

The executor must open this account to comply with the law and ensure proper administration.

How It Works. To open the account, the executor needs:
A Letter of Executorship from the Master of the High Court. Documents like the death certificate and the deceased’s ID.A chosen bank to set up the account (e.g., a current or savings account).

Need Assistance? Managing an estate can be overwhelming. Louwrens Koen Attorneys can guide you through the process, ensuring compliance and ease. Contact us via our secure online form for support

In short, yes, an estate account is typically required in South Africa for assets of R1,000 or more, as mandated by the Administration of Estates Act 66 of 1965.