STRATION OF ED ESTATES 16 ADMINISTRATION OF DECEASED ESTATES Is there a Will? *OLJR [OL \Z\HS WSHJLZ >PSSZ HYL kept: /VTL :VSPJP[VYZ VɉJL )HUR What is an Executor? (U L_LJ\[VY PZ [OL WLYZVU HWWVPU[LK I` [OL KLJLHZLK PU [OLPY >PSS [V VI[HPU H NYHU[ VM 7YVIH[L HUK HKTPUPZ[LY [OLPY LZ[H[L ;OL L_LJ\[VY PZ YLZWVUZPISL MVY LUZ\YPUN [OH[ [OL M\ULYHS HYYHUNLTLU[Z HYL THKL ;OL L_LJ\[VY ^PSS [OLU IL YLZWVUZPISL MVY JVSSLJ[PUN [OL HZZL[Z VM KLJLHZLK WH`PUN [OL KLJLHZLK»Z KLI[Z HUK KPZ[YPI\[PUN [OL HZZL[Z [V [OL ILULÄJPHYPLZ UHTLK PU [OL >PSS What if there is no Will? 0M [OL KLJLHZLK KPK UV[ SLH]L H >PSS [OL SH^ Z[H[LZ ^OV PZ [OL UL_[ VM RPU VM [OL KLJLHZLK HUK ^OV PZ LU[P[SLK [V YLJLP]L [OL KLJLHZLK»Z LZ[H[L 0M `V\ HYL H UL_[ VM RPU LN! ZWV\ZL JOPSK IYV[OLY VY ZPZ[LY L[J `V\ TH` IL LU[P[SLK [V YLJLP]L LP[OLY HSS VY WHY[ VM [OL KLJLHZLK»Z LZ[H[L HUK [OLYLMVYL LU[P[SLK [V THRL HU HWWSPJH[PVU [V [OL :\WYLTL *V\Y[ MVY HKTPUPZ[YH[PVU VM [OL KLJLHZLK»Z LZ[H[L 6UJL [OL *V\Y[ HWWVPU[Z HU HKTPUPZ[YH[VY [OL HKTPUPZ[YH[VY ^PSS IL YLZWVUZPISL MVY JVSSLJ[PUN [OL HZZL[Z VM [OL LZ[H[L WH`PUN KLI[Z HUK KPZ[YPI\[PUN [OL HZZL[Z [V [OL UL_[ VM RPU HZ KL[LYTPULK I` [OL SH^ How can I pay the debts of the estate? (Z L_LJ\[VY VY HKTPUPZ[YH[VY VM [OL LZ[H[L `V\ HYL UV[ H\[OVYPZLK [V WH` HU` KLI[Z VM [OL LZ[H[L \U[PS `V\ OH]L VI[HPULK H .YHU[ VM 7YVIH[L VY 3L[[LYZ VM (KTPUPZ[YH[PVU MYVT [OL *V\Y[ 0M [OL KLJLHZLK OLSK H IHUR HJJV\U[ [OL IHUR ^PSS WH` [OL M\ULYHS HJJV\U[ \WVU WYVK\J[PVU VM [OL VYPNPUHS M\ULYHS HJJV\U[ HUK WHZZIVVR ;OL IHUR ^PSS KYH^ H JOLX\L PU MH]V\Y VM [OL M\ULYHS KPYLJ[VY 0M [OLYL HYL HU` KLI[Z YLX\PYPUN WH`TLU[ `V\ JHU WH` [OLZL HUK VI[HPU H YLM\UK MYVT [OL LZ[H[L ^OLU TVUPLZ OH]L ILLU JVSSLJ[LK VU ILOHSM VM [OL LZ[H[L What are the Executors or Administrators initial responsibilities? -VSSV^PUN [OL KLH[O VM [OL KLJLHZLK `V\ ZOV\SK! 4HRL H SPZ[ VM HSS HZZL[Z VM [OL estate :LJ\YL HU` HZZL[Z LN! LUZ\YL [OH[ HU` YLHS LZ[H[L PZ WYVWLYS` SVJRLK [V WYL]LU[ IYLHR PU ,UZ\YL YLHS LZ[H[L PZ HKLX\H[LS` PUZ\YLK *VSSLJ[ HU` ]HS\HISL HZZL[Z LN! QL^LSSLY` HUK VY TVUL` MYVT [OL OV\ZL 4HRL HU HWWVPU[TLU[ [V ZLL H SH^`LY ^OV ^PSS HK]PJL `V\ M\Y[OLY How does the Executor or Administrator transfer the deceased’s assets so they can be sold? 0U TVZ[ LZ[H[LZ [OL L_LJ\[VY VY HKTPUPZ[YH[VYZ T\Z[ HWWS` [V [OL :\WYLTL *V\Y[ VM 5:> MVY H\[OVYP[` [V KLHS ^P[O [OL LZ[H[L HZZL[Z ;OPZ H\[OVYP[` PZ JHSSLK 7YVIH[L ^OLYL [OLYL PZ H >PSS VY 3L[[LYZ VM (KTPUPZ[YH[PVU ^OLYL [OLYL PZ UV >PSS ;OL L_LJ\[VY VY HKTPUPZ[YH[VY KVLZ UV[ H[[LUK *V\Y[ ;OL HWWSPJH[PVU PZ THKL I` [OL L_LJ\[VY VY HKTPUPZ[YH[VY I` HɉKH]P[ L]PKLUJL Z^VYU Z[H[LTLU[ ;OL HɉKH]P[ PUMVYTZ [OL *V\Y[ VM [OL KLJLHZLK»Z HZZL[Z HUK SPHIPSP[PLZ HUK ^OV [OL ILULÄJPHYPLZ HYL The original Will and certified copy of the death certificate are also forwarded to the Court as part of the application. How long does it take to administer the estate? <Z\HSS` [OL LZ[H[L HKTPUPZ[YH[PVU PZ JVTWSL[LK ^P[OPU TVU[OZ VM [OL KH[L VM KLH[O /V^L]LY P[ JHU [HRL SVUNLY ^OLU [H_H[PVU YL[\YUZ HYL YLX\PYLK [V IL SVKNLK VY YLHS LZ[H[L VY ZOHYLZ HYL [V IL ZVSK VY [OL LZ[H[L PZ ILPUN JVU[LZ[LK Does the estate have to pay death duty? +LH[O K\[` PZ UV[ WH`HISL VU KLJLHZLK LZ[H[LZ Can I get reimbursed for my expenses for administering the estate? @LZ ,_LJ\[VYZ HUK (KTPUPZ[YH[VYZ HYL YLWHPK MYVT [OL LZ[H[L MVY LZ[H[L L_WLUZLZ HUK TH` THRL HWWSPJH[PVU [V [OL *V\Y[ [V IL WHPK H JVTTPZZPVU MVY [OLPY [PTL HUK [YV\ISL PU HKTPUPZ[LYPUN [OL LZ[H[L Who should I speak to if I have further questions? -VY TVYL PUMVYTH[PVU JVU[HJ[ V\Y ,Z[H[LZ 7YVWLY[` ;LHT 6\Y SH^`LYZ HYL H]HPSHISL [V HZZPZ[ `V\ ZOV\SK `V\ OH]L HU` X\LZ[PVU ;OLZL UV[LZ HYL VM H NLULYHS UH[\YL HUK HYL UV[ H Z\IZ[P[\[L MVY WYVWLY SLNHS HK]PJL
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