Deceased estate legal terms

Deceased estate in legal terms

In legal terms, a deceased estate refers to all the property, possessions, and assets that legally belonged to a person who has died. This includes things like:

✅ Real estate (land, buildings)
✅ Vehicles
✅ Bank accounts
✅ Investments
✅ Personal belongings

Administration Process:

When someone dies, their estate goes through a legal process called administration. This process involves:

➡️ Identifying and valuing all the assets in the estate.
➡️ Paying off any debts of the deceased.
➡️ Distributing the remaining assets to the beneficiaries according to the terms of a will (if there is one) or the intestate succession laws (if there is no will).

Key Legal Concepts:

✅ Testator: The person who creates a will.
✅ Intestate: Someone who dies without a valid will.
✅ Heirs: The people who inherit the assets of a deceased person, determined by a will or intestacy laws.
✅ Beneficiary: Someone who is entitled to receive a specific asset or a share of the estate according to the terms of a will.
✅ Executor: The person appointed in a will to manage the administration of the estate.
✅ Administrator: The person appointed by the Master of the High Court to manage an estate if there is no will.
✅ Master of the High Court: The government official who oversees the administration of deceased estates.

Will vs. Intestacy:

➡️ Will: A legal document that outlines how a person wants their assets to be distributed after their death. Having a valid will ensures your wishes are followed and can help avoid disputes among beneficiaries.

➡️ Intestacy: If someone dies without a valid will, the intestacy laws of South Africa dictate how the estate will be distributed. This generally follows a predetermined order of inheritance, which might not reflect the deceased’s true wishes.

Importance of Legal Advice:

The administration of deceased estates can involve complex legal issues. Consulting a lawyer specializing in estate law can be beneficial, especially in situations like:

✅ Complex estates with significant assets
✅ Disputes among beneficiaries
✅ No will or an invalid will
✅ Executor or administrator requiring guidance on their duties

Further Resources:

➡️ The Wills Act 7 of 1953: Governs the creation and validity of wills in South Africa.
➡️ Department of Justice and Constitutional Development: https://www.justice.gov.za/
➡️ Law Society of South Africa: https://www.lssa.org.za/

Understanding these legal terms associated with deceased estates can empower you to make informed decisions regarding your own estate planning and navigate situations related to a loved one’s passing.

info@freelawyer.co.za