Deceased Estates Process Course: Drafting of Liquidation and Distribution Account

Once all the assets of the deceased are gathered and liabilities established, it is now required to lodge a Liquidation and Distribution Account (setting out all the assets and liabilities) to the Master of the High Court for inspection and approval.

Section 35 of the Administration of Estates Act requires you to lodge a Liquidation and Distribution Account to the Master of the High Court for inspection and approval within 6 (six) months after the Letters of Executorship has been issued.

Topics Discussed:

• Drafting of Liquidation and Distribution Account – Schedule 4 – Regulation 5
• Account to lay open for inspection – Magistrate’s Court
• Administration costs
• Possible cash contribution outstanding bond and the impact of the surviving spouse / co-owner