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Who is the executor in a Will and what are his/her duties?
01 October 2019  | Puleng Valentine Tladi
 

Any person above the age of 21 ,who has the capacity to enter into a contract qualifies to be an executor, if he/she is nominated by a testator (in terms of a valid will); and must be appointed by the Master; is in possession of a letter of executorship and is not disqualified to be an executor under the Administration of Estates Act 66 of 1965 or any other law.

The above mentioned person must draw up an inventory by estimating the value of the assets or appoint an appraiser to do a valuation of the assets in the estate, ensure that he or she calls the beneficaries of the estate in order to disclose the contents of the will, reports the estate to the Master, ensures that he or she opens an account if the cash at hand is above One Thousand Rand, Submits a Liquidation and Distribution account to the Master, Advertise in the newspaper that such account is lying open for inspection, ensure that all debts and liabilities are paid, attend to the Master’s final requirements as per the query sheet, acts in accordance with section 34 of the Administration of Estate Act 66 of 1965 where the estate is insolvent, informs the beneficiaries if there is a cash defecit, etc.

 

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Tags: Will