What does an Executor of a Will have to do?

faq-top-bg

An Executor of a Will is responsible for making sure that all the legal aspects of the Will are actioned. The Executor is legally liable and accountable to the Master of the High Court but may issue power of attorney to various administration service providers to complete various tasks, in the Estate Administration process.

Functions of the Executor broadly stated include:


  • Having power of attorney

  • Taking control of the Estate Assets

  • Securing firearms and ammunition in safekeeping

  • Placing notices in terms of Section 29

  • Opening an Estate cheque account

  • Submitting Section 27 inventory, if so required

  • Submitting Income Tax return for the deceased

  • Finalising valuations

  • Submitting the Liquidation and Distribution Account (L&D) to the Master of the High Court, within six months from the issuing of the Letters of Executorship

  • Planning the liquidation

  • Considering the claims against the Estate

  • Paying liabilities

  • Distributing inheritances

  • Submitting Estate Duty Return

  • Finalising accounts

SAcoronavirus.co.za