Deceased Estate Administration: The Six-Month Account an Executor Must File

When someone passes away, the estate does not simply pass to the heirs. It enters a period of administration under the Master of the High Court, and the person appointed to run that process is the executor. The role carries a timetable, and the single most important date on it is the six-month mark after appointment, the date on which the executor must lodge the liquidation and distribution account.

What the executor does

The executor is appointed by the Master through letters of executorship, and takes control of the estate from that date. The duties are practical and heavy:

The six-month rule

• Advertise the estate and draw up an inventory of assets and liabilities.
• Collect the assets, including bank accounts, policies, investments and the proceeds of the deceased's estate property.
• Pay the debts, including the funeral account, the estate's tax position and creditors who prove their claims.
• Prepare the liquidation and distribution account, which shows every cent that came in and went out, and how the residue is divided among the heirs.

The Administration of Estates Act requires the executor to lodge the account within six months of the date of appointment. The Master can extend the period, but an extension is not automatic: it must be applied for, with reasons, before the deadline is allowed to slip. An estate that passes the six-month mark with no account and no extension attracts the Master's attention, and the executor's failure becomes part of the record.

What can delay an estate

• The assets are not collected timeously, often because the family does not hand over the policies and bank statements.
• A creditor claims late, and the executor waits instead of lodging the account and providing for the claim.
• The estate is taxed and the tax position is not addressed early.
• The family cannot agree on who should be executor, or the chosen family member is not qualified to administer an estate of that size.

The delays are almost always avoidable. An executor who starts on day one collects the papers, opens the estate bank account and works the list rarely needs an extension.

Practical steps for families

How We Can Help

• Decide on the executor within weeks, not months, and let the attorney brief the family on the executor's duties.
• Locate the documents early: the will, the identity document, the marriage certificate, the bank statements, the policies and the title deed of the property.
• Set aside the money for the administration costs; the Master, the executor and the advertising all carry fees.
• Ask for the six-month date in writing at the appointment so the family can watch it.

OM Baloyi Inc administers deceased estates from the first consultation to the distribution of the residue, including estate property transfers and the Master's processes. If you have been named executor, or you have just lost someone and do not know where to start, speak to us.

OM Baloyi Inc | Attorneys, Conveyancers, Notaries, Properties, Tax, Mining 51 Bouvet Avenue, Bellairspark Ext 5, Northriding, 2162 T: 087 265 1059 | E: info@ombaloyi.co.za | www.ombaloyi.co.za