letter of executorship
The assets in the estate may only be distributed amongst the beneficiaries once all the estate’s debt has been settled, including SARS. As such, the executor is required to advertise the deceased estate so that any creditors can register their
A distinct advantage of drafting a separate Will for your foreign assets is that you can ensure that the Will fully complies with the laws of the country in which your assets are situated, and that no complications arise.
The length of the winding up process largely depends on the size and structure of the deceased estate, but can also be delayed in instances where the deceased died of unnatural causes, where the Will is contested, where there are
If the executor you have nominated in your Will has subsequently emigrated from the country, now is a good time to amend your Will and nominate someone who is locally based.
As is evident, the process of winding up an estate is lengthy, time-consuming and administratively intensive. It also requires that the Executor has a good understanding of accounting, finance and tax.
