Frequently asked questions
How long does it take to get inheritance money?
The length of time it takes to administer an Estate depends on the complexity of the Estate, which in turn affects how long it takes to receive an inheritance.
Is an estate account necessary?
Yes, according to the Administration of Estates Act 66 of 1965 an Estate Late bank account must be opened.
Is life insurance part of a deceased person’s Estate?
No, it is only part of an Estate if the policy is not left to a beneficiary. Often, people do not list everything they own in their Wills.
What does “estate of a deceased person” mean?
Legally, Estate refers to everything you own (properties, bank accounts, etc). It’s a relatively simple definition, but it can become a bit more complicated when someone dies.
Do I have to pay taxes on the sale of my deceased parents’ home?
Yes. Taxes will be payable either as part of the Estate if you sell it before the Estate is finalised, or as Capital Gains Tax on your individual profile if you sell it after you have inherited it.