Page 10 - Estate Preservation Plan

Report the estate
1 Within 14 days of the death of the insured life, the estate needs to be

The steps for reported to the Master of the High Court, together with a number of
documents and a request for the letter of executorship to be issued.
winding up a In the interim, the executor should start collecting as much

deceased estate information as possible in terms of assets and liabilities relating to
the estate, in order to prepare the estate account for the Master.

Certified
copies of
death certificate
Death
notice
COVERED BY MONTHLY EXPENSE BENEFIT
Next of kin
Letter of executorship affidavit
2 issued by the Master Inventory
Only once this document has been Certified copy of ID
Original of deceased
received, may the executor start the official will
process of dealing with matters relating to Acceptance Certified copy of
the estate. of trust as ID of nominated
executor executor

Documents to be enclosed
depend on the circumstances,
but can include the above.

3 Newspaper notice

4 Sell estate Assets

Notice of the death needs to be advertised in the Government (If necessary)
Gazette and in the newspaper of the area in which the The costs related to death are often
deceased lived or where his/her property is located; 30 days underestimated, and unless there is liquidity
are then allowed for any creditors of the deceased to come in the estate, valuable assets will need to be
forward and make a claim against the estate. sold to settle outstanding debts.

During these 30 days, the executor needs to continue obtaining the necessary
information that will allow them to determine the solvency of the estate and to start
months 12
drafting the liquidation and distribution account (L&D account). The estate late bank
account needs to be opened, and all disputes with heirs need to be handled.

10 Estate Preservation Plan Terms & Conditions apply E&OE