Overview The law prescribes the formalities by which assets are transferred to successors upon a person’s death. The entitlement to assets is determined by the terms of the Will, subject to the rights of spouses and children. If there is no Will or no fully operative Will, the intestacy rules apply. See our separate chapters in that regard. The deceased’s […]
General The personal representative, whether an executor or administrator, is obliged to collect in the deceased’s assets and distribute them in accordance with the terms of the will or the rules on intestacy, as the case may be. Legislation confers a range of powers and duties on the personal representatives. They must finalise income tax returns. They must make returns […]
Duties of Personal Representatives The position of personal representatives is potentially onerous. Personal representatives have significant legal duties. They have many of the same duties as trustees. The succession legislation deems the personal representative to be trustee in respect of assets vested in him. He must exercise his powers with due diligence, care and attention. He must not allow assets […]
High Court Procedures An application may be made to the court by way of a special summons procedure on a range of issues relevant to the administration of estates. These include the determination of rights and interests of parties and a direction to the executor or administrator to do or refrain from doing a particular act; approving any proposed transaction, […]
Disclaimer A person need not accept a benefit either by way of gift or inheritance. A gift must be accepted to take effect. Generally, the slightest indication of acceptance is sufficient, and acceptance will be readily inferred in the circumstances. A gift or benefit received on death may be disclaimed. A disclaimer may be by formal deed, in writing or […]