How to prevent delays in winding up your estate
Discover essential tips for preventing delays in winding up your estate, ensuring your loved ones are supported during a challenging time. Learn about the importance of a valid Will, proper documentation, and selecting the right executor.
Image: Freepik
Delays in winding up an estate can create unnecessary hardship for grieving families, and while the Master's Office is often blamed for backlogs, the root cause frequently lies in poor or incomplete estate planning. Ensuring your estate is structured and documented properly can go a long way in easing the burden on your loved ones during an emotionally taxing time.
Original Will cannot be located: One of the first requirements when reporting a deceased estate is providing the Master's Office with the original Will and any codicils. If your loved ones are unaware of the location of your original Will or unsure whether you even have one, this can lead to significant delays. Locating the Will may require contacting your bank, financial planner, attorney, or insurance company, which can take weeks or even months to resolve.
Top tip: Tell your loved ones where your original Will is kept and ensure it's easily accessible after your death.
Dying intestate: If you die without a valid Will, your estate must be wound up in terms of the Intestate Succession Act. The Master's Office will need to appoint an executor, which can be a time-consuming process. Furthermore, the lack of a Will may result in estranged or unintended beneficiaries inheriting from your estate, while your spouse may not be adequately provided for, particularly in second marriages or where adult children inherit a portion of the estate.
Top tip: Drafting a valid Will is the single most important step in avoiding unnecessary estate complications.
Wills that are complex or poorly worded: A Will that is unclear, contradictory, or overly complex, particularly in the context of blended families or past marriages, can give rise to disputes and even legal action. Legal challenges around the interpretation or validity of a Will can take years to resolve, significantly delaying the finalisation of the estate and depleting its value in the process.
Top tip: Work with an experienced estate planner to ensure your Will is clear, unambiguous, and legally sound.
Incomplete Wills: A Will that does not account for all your assets, or fails to include a residue clause to deal with what remains after debts and bequests, can result in partial intestacy. This means that the undistributed assets will need to be allocated according to intestate succession, leading to delays, confusion, and possible conflict among heirs.
Top tip: Make sure your Will includes a residue clause and accounts for all significant assets.
Appointing a layperson as executor: While it may seem like a gesture of trust to appoint a friend or family member as executor, the Master's Office is unlikely to confirm the appointment unless the individual has appropriate qualifications or appoints a professional agent. Estate administration is complex and governed by a strict legal process, and inexperienced executors can inadvertently delay the estate, misinterpret their duties, or expose themselves to personal liability.
Top tip: Appoint a qualified fiduciary expert or professional executor with the necessary experience to manage your estate.
Missing key documentation: The estate reporting process requires several original documents, including the death certificate, identity documents, marriage certificate, Will, details of next-of-kin, and an asset inventory. If your loved ones cannot locate these, the Master's Office may withhold the appointment of the executor until everything is provided. The result is a delay in starting the estate administration process, which has a knock-on effect on every subsequent step.
Top tip: Compile an estate planning file with all important documents and let your executor or family know where to find it.
Lack of liquidity in the estate: A common reason for delays in finalising an estate is insufficient liquidity to settle debts or pay bequests. For example, if your Will bequeaths R500,000 to each of your children but only R800,000 is available after settling liabilities, the executor will face a shortfall. They may need to sell assets or approach the Master's Office for approval—both of which can create conflict or lead to legal disputes.
Top tip: Ask your financial advisor to perform regular estate liquidity checks to ensure your bequests are realistic and executable.
Your estate plan is your final act of care for your loved ones. Avoiding unnecessary delays starts with having a valid, well-drafted Will, ensuring access to important documents, maintaining sufficient liquidity, and choosing the right executor. With a little preparation now, you can spare your family additional hardship during what will already be a very difficult time.
* Tapfuma is a Certified Financial Planner professional at Crue Invest.
PERSONAL FINANCE
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