Deceased estates administration refers to the process of settling the affairs of a deceased individual, including the collection, management, and distribution of their assets and liabilities. This process is governed by the relevant legislation, primarily the Administration of Estates Act and the Wills Act.

 

When a person passes away, their estate is typically managed by an executor. Fin.Collaboration (Pty) Ltd can be appointed as executor on an estate or serve as agent on the estate.

 

The administration process involves various tasks, such as gathering information about the deceased's assets and debts, notifying creditors and beneficiaries, paying outstanding debts, filing tax returns, and ultimately distributing the remaining assets to the beneficiaries.

 

Executors are required to perform these duties diligently and in compliance with the applicable laws and regulations. Executor fees payable are regulated by the government and are determined based on a prescribed tariff. The fees are calculated as a percentage of the gross value of the estate and are subject to a maximum of 3.5% (plus VAT). The percentage fee applied will depend on the complexity of the estate and the amount of work performed by us.