Executor of Will?

[Sparkz0629]

I recently had a family member pass away and I today got a letter from an attorney to have my uncle made the executor of his will as there were no executors named in his will.

What exactly is this and how does it impact me? Not sure why I needed to sign the document.
Sorry, this is the first time Ive had to deal with anything like this.

 

[Drifter]

Doesnt impact you at all, only your Uncle.

 

[Monkeyz]

doesn't really impact you unless you are left something in the will
the signature was probably just to have you as a witness

PS: Next time you in this kinda situation and need to sign some legal document just ask the attorney as many questions as you need so that you fully understand what you are signing

 

[Sputnik100]

What exactly is this and how does it impact me?

An executor is the person who administers the estate of the deceased. The executor will close open accounts, deal with SARS, pay debts, collect what was owed to the deceased and then distribute the assets in the estate according to the deceased's wishes or according to the Intestate Succession Act if the deceased had no will.

It can be a very complicated and time consuming role. Many people therefore choose to appoint an attorney (or accountant or someone else) to either be the Executor, or to perform the duties on the Executor's behalf. They do so at a fee (usually 2%+ of the value of the estate).

It sounds like your uncle has been appointed or wants to be appointed as the Executor, but the attorney is doing the admin. If there was no Executor nominated in a will, someone can step up to fulfill that role and announce themselves to the Master of the High Court who decides who will be appointed. Your uncle therefore wants the permission of any other potential executors (family members like yourself) to assume that role. If nobody objects, your uncle will be appointed.

This leaves your uncle in control of the estate and the attorney does the admin. If your uncle is not satisfied with the service he receives from the attorney, he may move on and get someone else to do the admin.

 

[^^vampire^^]

Just as a side note, if you stand to gain from the will then make sure the executor is trustworthy and willing to put in the effort when required. It is possible for an executor to potentially do something dodgey. Also, from a speed perspective, if someone had been executor before then best to nominate them as they will benefit from going through the process before.

 

[Sparkz0629]

Thanks for all the replies. Really helped me out.
I spoke to my uncle and he said the lawyer is doing all the work as they know more about it than he does.
Looks like it was just a formality of sorts.
Now to see how long the process takes to be concluded...

 

[lkswan747]

Thanks for all the replies. Really helped me out.
I spoke to my uncle and he said the lawyer is doing all the work as they know more about it than he does.
Looks like it was just a formality of sorts.
Now to see how long the process takes to be concluded...

Prepare for a long wait!

 

[Bevbunny]

My husband passed away in July (2019). His will names me as executor and beneficiary of the estate, value R950 thou as investments. For various reasons I have not been able to go to the Master of High Court until now, Im going next week. I have heard that it should have been done within 14 days of his passing and others have told me that is not valid. Can anyone confirm this and whether there will be any major issues with the 14 days having long expired?

 

[Kosmik]

My husband passed away in July (2019). His will names me as executor and beneficiary of the estate, value R950 thou as investments. For various reasons I have not been able to go to the Master of High Court until now, Im going next week. I have heard that it should have been done within 14 days of his passing and others have told me that is not valid. Can anyone confirm this and whether there will be any major issues with the 14 days having long expired?

I doubt there would be a major issue. Also, keep in mind how the value is the estate is determined, if you are a nominated beneficiary in things like a life /retirement policy etc, that is not part of the estate. Go to the master, they are quite helpful, there is also normally one day a week when there is a legal aid clinic at the office, in Durban it's Thursdays, they will also assist pro bono.