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To all uncles, brothers and boyfriends

TUMISOMAHLAELA
By TUMISOMAHLAELA | self meida writer
Published 17 days ago - 7 views

Administration of Deceased Estate, If a deceased is married, everything belongs to the surviving spouse or their children. The deceased 's biological family have NO business on the estate. If your brother paid lobola but the wife left him, then your brother dies along the way, the wife then comes back and takes everything. Good for her, it belongs to her.

The property and assets belonging to a person who has died, called their deceased estate, may include real estate, money in bank accounts, shares, and personal possessions. Some types of income can also form part of the deceased estate. A deceased estate comes into existence when a person dies and leaves property or a will.

Any person that has control or possession of any property or a will of the deceased, can report the death by lodging a completed death notice with the Master. The property and assets belonging to a person who has died, called their deceased estate, may include real estate, money in bank accounts, shares, and personal possessions. Some types of income can also form part of the deceased estate.

Probate” is simply the act of making a will or trust official and enforceable in court. “Estate planning” is the act of putting together a financial plan that will constitute a document like a will and manage your estate after your death or incapacitation.

As a rough guide, a deceased estate can take anything from five months (which is almost impossible), to several years to finalise. The time required depends largely on the size and structure of the deceased person's assets and liabilities. Unfortunately, every estate is different, and that means timelines can vary. A simple estate with just a few, easy-to-find assets may be all wrapped up in six to eight months. A more complicated affair may take three years or more to fully settle.

Source:

smartasset.com > estate-planning >

www.iol.co.za > personal-finance >

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