Property Practitioners 1.2

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By greg
#4625
The administration of deceased estates is mainly governed by the Administration of Estates Act 66 of 1965.

Basic steps to be taken in order to liquidate an estate and distribute assets to the respective beneficiaries, follow:

1. Report death and lodge will with the master of the high court.

2. Master of the high court issues letters of executorship.

3. Executor Advertises to creditors and lodge claims

4. Lodge Liquidation and distribution account with the Master

5. Master’s approval, payment to creditors and heirs

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