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Report a deceased estate to the Master

27 Mar

I am a member of the Wills, Estates, and Trust committee.

A question was raised at a meeting:

It appears that there can be fraud in the issue when changes are made to Letters of Executorship in deceased estates

We discussed the withholding of bank account details and policy numbers when you report an estate – and just to list the value of the assets

The Master only requires the information in the section 9 inventory (first inventory) when you report an estate, to determine if the value if the estate exceeds R250 000.00 – If less – an section 18 (3) letter of appointment will be issued.

Confirmed with a senior official at the Master –

When we report an estate over R250 000 they are just concerned that we list that values – not so worried about account and finer details –we can leave it out initially:

  • They are aware of fraud etc with L E’s and trying all to keep record of want they issue and when they certify a true copy – they will endorse on all pages
  • Section 18(3) Estates – less than R250 000 value
    • Account details must be inserted –as the Letter or Authority must reflect bank account no
    • Appointment of agent
      • Does not appear in 18 (3) form
        • Not required
      • Will require however is minor are involved and in particular of the minors inherit more than R5 000 cash

Meyer de Waal

meyer@oostco.co.za

021-4610065

 
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Posted by on 27/03/2015 in Content

 

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