| The deceased |
The person who died. |
| Deceased estate |
All money, things and assets that the deceased had at time of death including debts due. |
| Intestate |
The deceased died without having made a will, or it cannot be found. It does not mean that his or her assets go to the state – that is a myth. |
| Testate |
The person died and had a will. |
| Executor |
The person named in a will who is to attend to the administration of the deceased estate. If there is no will, usually the person nominated by the family. |
| Testator |
The person who made a will. |
| Administration of estate |
The process of winding up the deceased estate. |
| The master |
The master of the high court, a government official who oversees the administration of the estate – checks up on the executor. |
| Heirs |
The people who will inherit. |
| Bequests |
Stipulated amounts and/or things left to named persons. |
| Legatees |
The persons named in a will who inherit the bequests. They rank first |
| Testate heirs |
The people named in a will as those that will inherit. |
| Intestate heirs |
If there is no will, various statutes will dictate who will inherit. Your attorney will explain this. |
| Residue |
What is left after provision for admin fees, executors fees, Sars, bequests; and is to be distributed amongst the residual heirs. |
| Residual heirs |
Those heirs that receive the residue. |
| Letters of executorship |
A document issued by the master, authorising the executor to administer the estate. This applies to estates that have a gross value greater than R250,000.00. |
| Letters of authority |
A document issued by the master appointing and authorising a person to deal with the deceased’s assets in terms of section 18(3) of the administration of estates act. This applies to estates that have a gross value less than R250,000.00 and is loosely referred to as a 18(3) appointment. |
| Reporting the estate |
The completion of forms and delivering these together with required documents to the master. |
| Liquidation and Distribution Account |
Most referred to as the L&D account. The detailed account of all assets, liabilities, income, expenditure, bequests, residual heirs portions, admin charges, executor’s fees. This is presented to the Master, who if satisfied gives permission to advertise the account and pay out. |
