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Plan your estate now to eliminate any problems upon your death. Protect your loved ones by minimising the chances of family strife and ugly battles.
When a person dies, a death notice must be completed and the estate of a deceased must then be reported to the Master of the High Court by within 14 days from the date of death. The Master must preferably be notified by the nominated Executor or person in possession of the Will.
Note: In case of a marriage in community of property, half of the deceased estate (50%) automatically belongs to the surviving spouse but the other half will not devolve according to the rules of intestate succession. A child share is determined by dividing the intestate estate through the number of surviving children and deceased children, plus the number of surviving spouses.
If a deceased leaves no spouse or descendants, but both parents are alive without any other descendants, then the surviving parents will inherit the intestate estate in equal shares.
If the deceased leaves no spouse, no descendants but leaves one surviving parent and the deceased parent has descendants (brothers/sisters of the deceased), then the surviving parent will inherit one half of the intestate estate and the descendants of the deceased parent the other half in equal shares.
If the deceased does not leave a spouse, descendants, parents or descendants of his/her parents, then the nearest blood relative may inherit the entire intestate estate.
If the deceased does not leave a spouse, descendants, parents or descendants of his/her parents, and there is no blood relative, then the proceeds of the estate will accrue and transfer to the State.
Contact us for expert legal advice on planning your estate.