Crest Trust Holdings Inc.

Administration of deceased estated

We have a well-established department that administers all of our deceased estates, making use of a software program called Legal Ease. The administration of an estate can be a highly technical process which may appear cumbersome and difficult to the uninformed. As executor Crest Trust strives to administer clients’ estates as quickly as possible to the full satisfaction of all parties concerned without giving up on our personal service. On receipt of notification of the death of a client we will arrange a meeting with the next of kin at their earliest convenience. Reporting documentation is usually completed during this meeting and the process is explained to all parties concerned.

The main duties of the executor will be the following:

  • To take charge of the assets (this does not mean removing assets, but making sure that they are in good hands and adequately insured)
  • Paying outstanding accounts, final taxes and any estate duty
  • Delivering and/or transferring the net assets to the heir(s) according to the Will.
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In cases where there are business interests, the executor will take whatever steps may be appropriate to secure its disposal as a going concern. This means either handing control over to the heir(s) of finding a suitable buyer.

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In the case of a cash shortfall the executor may have to sell some assets to cover the amount required. This is done in conjunction with the heir(s).

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The executor will at all times remain unbiased and cannot be expected to take sides. The executor’s function is merely administrative and is governed by the provisions of the Administration of Estates Act 66, of 1965.

Estate Administration and Execution

Our estate practitioners will attend to the following immediately after the first meeting of family and/or heirs

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Communicating with all parties concerned.

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Calling for Certificates of Balance on all monies held by financial institutions.

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Arranging for immovable and movable assets to be valued, if required.

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Submitting assurance claims.

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Requesting tax returns for completion.

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Collection outstanding employee benefits from the employer.

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Assisting the surviving spouse and/or next-of-kin with immediate financial problems.

+27 12 643 1049

info@ctrust.co.za

Block 12, Lords Office Estates, 276 West Avenue Centurion, Gauteng 0157

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