Administration of deceased estates
Let the professionals help you
If the person administering an estate (the Executor) is not experienced, there could be significant delays in winding up the estate. FNB Trust Services can manage this process on your behalf.
Your matters are dealt with professionally.
Your estate will be closed in the least possible time.
Remove the complexity
You won't have to worry about the difficulties involved in closing an estate.
What you can do
Make estate administration easy
Steps to make the administration of your estate easier.
Storage of your will
Ensure your relatives/friends know where your will is kept
Keep all documents relating to investments and liabilities up-to-date and in one place
Responsibilities of the Executor
The Executor of an estate has a set number of responsibilities to adhere to. Steps that the nominated Executor will need to perform
- Interview family/friends of deceased to get an idea of the deceased's financial and personal circumstances.
- Report the death to the Master of the High Court and apply for confirmation of their appointment as Executor.
- Apply for Letters of Executorship (this document will be issued by the Master). Place advert in the local newspaper and the Government Gazette to inform any creditors of the death.
- Write to the institutions involved in the deceased's estate to obtain values of investments/assets and liabilities at the date of death.
- Inform the Receiver of Revenue of the death.
- Complete and submit tax return(s) for the deceased.
- Obtain valuations of assets.
- Draft the Liquidation and Distribution account (a document reflecting all the deceased's assets and liabilities, as well as how the remaining assets are to be distributed).
- Submit this account to the Master and the local magistrate.
- Place an advert in the local newspaper and the Government Gazette to inform interested parties that they may inspect the Account (they have 21 days to do this).
- Collect the proceeds of investments.
- Pay the creditors, including the Receiver of Revenue.
- Distribute the remaining assets, when authorised by the Master.
- Instruct the conveyancer to transfer fixed property to the beneficiaries.
- Apply to the Master to close the estate.
Getting it made easy
16 years and older
First National Bank of Namibia Limited, Reg. No. 2002/0180.