The executor is the person who is nominated in the last will and testament and officially appointed by the Master in a Letters of Executorship to administer the deceased estate, subject to certain requirements.
If the deceased did not nominate an executor in his or her will, or if the deceased died intestate (without a will), the beneficiaries may nominate an executor for the Master to appoint.
If the estate is administered under section 18(3) of the Administration of Estates Act, which means the gross value of the estate is less than R250 000, the Master appoints an executor that is referred to as the Master’s representative (also referred to as a Section 18(3) appointment, in such a case the Master appoints the representative in a Letters of Authority and not a Letters of Executorship).
The executor is solely responsible for the administration of the estate.
The appointed executor may nominate an agent to act on his or her behalf, but the executor remains legally responsible and liable for the estate.
If an agent is appointed, a special power of attorney must be in place giving the agent authority to perform the administrative tasks that an executor would usually perform.
At CMV Trust, we have experts that can assist with the drafting of your will and quick and professional completion of deceased estates. For any assistance or queries, please contact Natasja (natasja@cmv.co.za) or Marietha (marietha@cmv.co.za) on 012 991 4400.