ABOUT US
Our team at GNG Deceased estates (Grobbelaar & Grobbelaar) can offer you a comprehensive fiduciary service.
We are members of FISA (Fiduciary Institute of Southern Africa).
The CEO has BIuris and BProc degrees and over 36 years’ experience in the legal field.
She has also been heading a deceased estates department for a large investment firm for the last 12 years.
What is estate administration and why is a professional executor important?
The administrating of an estate is the process that ensures that all the terms of the deceased’s will is carried out correctly. This process is highly technical because each individual's assets, wishes and circumstances differ.
An estate can be a complicated mixture of assets where a client needs the assistance of a professional with many years of experience. It will also allow the family to grieve, rather than be burdened with – undue heartache and stress, the responsibility of administering the estate of a loved one.
Coupled with the fact of the legal ramifications of not paying creditors or heirs correctly can have financial consequences. If an executor is remiss in his duties he will be held personally liable.
The executor must be up to date with legal aspects such as Capital Gains Tax liabilities that the heirs are not prejudiced. An executor must comply with the law governing estates and Income Tax.
An executor must be transparent and deal with the estate assets cautiously. Regular reports should be provided to the heirs.
When a layperson is appointed as an executor the Master of the High Court usually insists that the executor must appoint a professional agent to act on his behalf.
A simple way to address the abovementioned issues is by appointing a professional executor during your lifetime. This allows you to negotiate lower executors’ fees.
