Study Unit 1: The Administration of Deceased Estates Flashcards

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1
Q

Who is the Master?

A

Supervises the
- administrative process and the
- Executor’s activities, advisory and administrative functions in the process

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2
Q

Who is the Executor?

A
  • Person who actively administers the dead’s estate.
  • Testamentary executor: nominated in the will
  • Dative Executor: Executor nominated by the Master
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3
Q

What are the principle functions of the executor?

A
  • Complete relevant estate documents
  • lodge all estate documents along with original will with the Master
  • advertise to dead’s creditors to submit claims against the estate w/in 30 days
  • pay all claims against the estate and creditors
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4
Q

Where is information about the estate held?

A

Liquidation and Distribution account, which is prepared by the executor.
- lies open for objections for 21 days, if none, the executor can finalise the execution of the estate.

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5
Q

Is succession a mode of acquisition of ownership?

A

No
- one can’t acquire something left to them in a will immediately upon death of Testator.

Greenberg v Estate Greenberg

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6
Q

What are the requirements for succession to occur in favour of the successor?

A
  • Estate owner must have died/court must have issued order of presumption of death in regard to estate owner.
  • Successor must been born at moment of dies cedit or conceived at that time and later been born alive
  • Successor must have survived deceased
  • Successor must be competent to receive benefit.
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