Tasks of the Executor

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I came across this article in the Personal Finance which was part of the Independent on Saturday of 9 June 2018 written by the Feduciary Institute of South Africa. It is worth sharing. I shall also put it on the website www.legalaspectsofdying.co.za

Tasks of an executor

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The following information comes from various sources. With changes to the law over the years I am doing my best to keep myself and my book purchasers as up to date as possible. Other sources are friends, family and others who have been through the process of following up on a death. If you have any information or suggestions which you feel may help others, please e-mail me and I shall add to this page.

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Currently my husband is the Executor of an estate and I am assisting him with some of the preparation of records and e-mails and we are learning all the time. As said in my book at the top of page 56, when a person dies ALL his/her financial accounts and assets are immediately frozen. I have previously written that the Master of the High Court requires bank statements of the deceased bank account(s) as at the day of death.

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Still waiting for my inheritance!

“Why does the winding up of an estate, even where there is a Will, take so long”? is a question so many folk ask. Some are completed in a matter of months whereas others can take years.

A friend tells me that his mother’s estate has stagnated for 11 years as there is a dispute about a piece of land. The local municipality claims there are outstanding rates but the family have proof that the municipality bought the land some years before his mother died. Having spoken to lawyers, banks and accountants it would appear that the average time is around a year.

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ID theft is growing very fast all around the world, especially as so much of our personal information is now digital. We are regularly asked to produce photocopies of our ID or Passport information or it is placed on to the digital system and stored ‘in the cloud’ making it easier for hackers to access.

I have been a victim of ID theft and it is not funny. Even though the persons who used my information did not open accounts or do any shopping in my name, they used it to obtain Social Grants illegally. To read more about this go to my Ideas & Social Justice site.

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