Based on the outcome of the most recent court case in the
Supreme Court of Appeal,
Jones v Pretorius, a strong word of warning was issued by the
Court to those appointed as executors and their agents.
The Administration of Estates Act (Act) makes it very clear when
you are entitled to your well-earned fee. The executor is only
entitled to payment of his remuneration after all debts have been
paid and the other estate assets have been distributed among the
beneficiaries in accordance with the approved Liquidation and
Distribution Account.
Contrary to popular belief, the Executor is not exempt from the
rights and obligations of being appointed as such by the Master of
the High Court when appointing an agent to act on his behalf. When
issuing a Letter of Executorship for an estate larger than R250
000, the Master requests the nominated Executor as a private person
to approach an attorney or an auditor. This is mainly because these
professionals are members of
