How does one administer the Estate of a Testator upon his demise?
The Will will only take effect upon death. Your executors would have to apply to Court for a “Grant of Probate”. The Grant of Probate is a legal document approved by the Court which gives legal effect to your intentions under your last Will. The Court however will only issue the Grant of Probate after the Estate Duty Commissioner has approved and certified the following: (a) the value of your estate; and (b)(i) the amount of estate duty payable; or (b)(ii) that no estate duty is payable. Although the executors of your Will have the power to do things in accordance to your intentions under your Will before the Grant of Probate has been issued by the Court, it might be necessary to obtain the approval of the Commissioner for Estate Duty in certain circumstances. This is especially so when dealing with landed property or with assets like shares. In relation to such assets, it is necessary to obtain the Grant of Probate first before distribution can be made. Upon the issuance of the Grant
Related Questions
- It has nearly been three years since the testator died, and the administration of deceased estate has not yet been completed. What should the personal representative do?
- Is petitioner the person acting in the domiciliary jurisdiction to administer and distribute the testators estate?
- May 11, 2011 8:23 AM Gene Upshaws Estate: Must a Testator Sign His Will?
