Estate Administration Explained with FRS:
Losing someone you love is incredibly hard. Along with the emotional toll, you're suddenly faced with a long to-do list you never asked for - funeral arrangements, phone calls, paperwork. One of the most confusing parts for many South Africans is what happens to the person's belongings, property, money, and debts - also known as their "estate". When a loved one passes away, their estate - everything they owned - must be collected, valued, and distributed according to their will, or if there is no will, in accordance with the provisions of the Intestate Succession Act 81 of 1987. This process is known as estate administration, and it can be legally complex, emotionally taxing, and time-consuming. For this reason, amongst many others, appointing an attorney to administer a deceased estate is often a wise and practical decision
What Does Estate Administration Involve?
Administering a deceased estate typically includes:
- Locating and interpreting the deceased's will (if the deceased had a will);
- Identifying and valuing assets and liabilities;
- Applying for letters of authority (if the deceased estate is valued to be less than R250,000.00) or executorship (if the value of the deceased estate exceeds R250,000.00);
- Settling debts and taxes;
- Distributing the remaining assets to beneficiaries and;
- Preparing final accounts and records.
Whilst these tasks may sound straightforward, the legal and procedural requirements can quickly become overwhelming. Even well-planned estates can encounter complications such as:
- Disputes between beneficiaries;
- Claims against the estate from creditors or dependents;
- Issues locating all of the deceased's assets or liabilities;
- Complicated tax or property issues;
- Allegations of executor misconduct or will invalidity.
These issues often require expert legal knowledge to be resolved efficiently and fairly.
Why Appointing An Attorney Makes Sense:
- Legal Expertise - Attorneys understand the relevant laws and procedures. We can ensure that the estate is administered properly and in accordance with all legal obligations.
- Reduced Stress - Losing a loved one is already difficult. Handling a complex legal process on top of that can be overwhelming. An attorney takes the burden off of your shoulders, allowing you to focus on healing.
- Efficiency and Accuracy - Mistakes in estate administration can lead to delays, penalties, or even legal proceedings being instituted. Attorneys are trained to get it right the first time, which saves time and money.
- Impartiality - If there are tensions between beneficiaries, an independent attorney can act as a neutral administrator, helping to prevent or manage conflicts.
-
Tax and Financial Guidance - Estates may have tax obligations that require careful planning. An attorney can guide executors or administrators on how to handle there appropriately.
When Is It Especially Important To Appoint An Attorney?
- The estate is large or complex;
- There are business interests or foreign assets involved;
- There is no valid will;
- Family members are in dispute;
- The nominated executor is unwilling or unable to act;
- There are concerns about legal liability.
Conclusion:
Whilst it is possible to administer a deceased estate without an attorney, the risks and complexities involved often make legal assistance invaluable. Whether you're acting as an executor or a family member seeking clarity, appointing an attorney ensures the process is handled with professionalism, precision, and care.
If you need help administering an estate, our experienced team can guide you through every step of the process. Contact FRS ATTORNEYS INC. today to schedule a confidential consultation.
Legal Disclaimer:
The content of this blog post is for informational purposes only and does not constitute legal advice. Reading this post does not create an attorney-client relationship. For advice on your specific situation, please contact us to speak to one of our qualified attorneys.