Duties of the Estate Executor
We have been asked this question quite a bit and we decided to do this write up to tell our subscribers more about the duties of the Executor and what it entails in terms of a deceased's estate.
The main function of an Executor is to deal with the liabilities and assets of the estate and work on determining the final reconsolidation.
To consider all the assets of the estate the executor need to look at all the applicable assets that form part of the estate and this can involve fixed properties, furniture, cash, shares etc. as well as all personal interest involved.
In the same breath, the Executor also needs to look at all the liabilities and outstanding debts that are involved in the estate administration.
It is of utmost importance that the executor does this very thoroughly, since the balance needs to be calculated in terms of the assets and liabilities. It is also very important that the Administration of Estates Act is adhered to in every sense and that all applicable duties are completed.
The duties outlined above is just a summary and if you do need help with your deceased estate administration, please feel free to contact us and we will assist you in the administration of the estate.
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