This comprehensive, self-study package includes six essential courses that cover every major step in the administration of a deceased estate, from the drafting of a valid Will to the calculation of Estate Duty.

The following self-study courses are included in the package:

Last Will & Testament

• Drafting of a valid Last Will and Testament
• Signing of a valid Last Will and Testament
• Competency to make a Last Will and Testament
• Effect of divorce or annulment of marriage on will – 3 months grace period
• Encourage your client to review their Last Will and Testament at least once a year
• Encourage your client to make a list of their assets at least once a year
• Cremation / organ donation
• Who can sign as witnesses to a Last Will and Testament
• Statutory requirements / formalities of valid Last Will and Testament – section 2 of the Wills Act no 7 of 1953
• If signed Will does not comply with formalities – section 2(3) of the Wills Act no 7 of 1953 – Court to declare Last Will and Testament valid

Reporting of Deceased Estate to the Master's Office

• Correct completing of reporting documentation
• Required documentation:
  • Marriage certificate
  • ID of deceased
  • Death certificate
  • ID of Executor
• Letter to Master
• Templates provided:
  • Death Notice
  • Master’s Directions (estate smaller than R250 000)
  • Acceptance of Executor (estate larger than R250 000)
  • Inventory
  • Next of Kin affidavit (intestate estates only)
  • Nomination (intestate estates only or alternative Executor)
  • Letter to Master of the High Court

Administration Process After the Letters of Executorship Have Been Issued

• Gathering of assets
• Opening of estate late banking account
• Establishment of creditors / creditor’s claims / when creditors get paid
• Write to financial institutions / banks / insurance companies
• Vehicles
• Immovable property

Drafting of Liquidation and Distribution Account

• Drafting of Liquidation and Distribution Account – Schedule 4 – Regulation 5
• Account to lay open for inspection – Magistrate’s Court
• Administration costs
• Possible cash contribution outstanding bond and the impact of the surviving spouse / co-owner

Estate Duty

• Outstanding returns of deceased up to date of death
  • All outstanding returns must be filed to date of death
  • New Income Tax profile must be created for the Estate
  • After death income / expenses
  • Deceased’s personal SARS profile must be deregistered
• Estate Duty and the calculation thereof
  • Surviving spouse’s inheritance (section 4q)
  • Maintenance payments
  • Policies paid directly to third parties
  • Administration costs
  • Other exemptions
• Transfer duty
• Any SARS tax is an administration cost in the estate

Practical Approach to Common Pitfalls

• A dependent claims that they have not been properly provided for under the Will
• A dispute arises with respect to the care of children
• Beneficiaries feel the Executor's or Administrator's fees are too high or not appropriate
• A dispute arises over the sale of property or personal assets
• A creditor alleges that a disputed debt is owed to them
• Someone refuses to turn over an asset belonging to the estate
• Joint ownership of assets and disclaimers
• Digital records and passwords
• Filing a late estate claim
• Deceased had other children nobody knew about
• Under estimation of Estate Duty
• Personal loan accounts owed to companies/ business from deceased borrowed from business then payable back on death
• Cash shortfall
• Possible capital gains tax
• Outstanding tax returns and TAX owed
• Intestate succession – consent by all heirs
• Estate planning
• Old outdated Wills
• Divorce orders – i.e immovable property not transferred at date of divorce order
• Maintenance i.t.o divorce orders

All Included:

• Video presented courses
• Downloadable course material
• Certificates of training
• Assessments (optional)
• SAIT Accredited (Verifiable CPD Hours)