The value of the deceased estate determines what steps will be taken in the winding up process. Whether there is a will or not will determine how the assets will be dealt with. Estates under R250 000 are dealt with differently than estates that are worth more than R250 000. Let us know the estimated value of the deceased estate and we will advise accordingly.
THE DECEASED DIED WITHOUT A WILL
The estate will be dealt with in terms of the Intestate Succession Act, Act 81 of 1987.
If the deceased was married, his/her spouse will also inherit. Most marriages apply to this rule.
The Intestate Succession Act prescribes exactly how the estate of a deceased person who dies without a will must be dealt with.
THE DECEASED DIED WITH A WILL
If the deceased left a Will, the Master of the High Court will determine whether the will is valid. If the will is accepted as valid, the assets will be dealt with in term so the will and the Intestate Succession Act will not apply. The original will is required and it must be signed by the deceased. Only written wills are accepted.