The Executor plays a vital role in ensuring that all processes are handled with the utmost efficiency and professionalism.
The main duties of an Executor are:
- Taking control, protecting and transferring of the deceased assets as per the Last Will and Testament or as per the Intestate Succession Act;
- Taking care of all the legislative requirements;
- Paying all debts and administration expenses;
- Ensuring that the final Income Tax returns are lodged and all taxes are dealt with; and
- Distribution of the final balances in the Estate.
The whole administration process is supervised and validated by the Master of the High Court, who also performs a judicial function. In other words, deals with any objection lodged against the Liquidation and Distribution Account or any contestation made against a Will.