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Deceased Estates
Walking with you
through life’s tides
CONTENTS PAGE
1. Introduction

2. Important First Steps and Practical Tips

3. Overview of the Deceased Estates Process

4. How can Standard Bank assist you?

5. What happens to debt owed to the bank?

6. Process to follow for funeral payouts

7. In closing

8. Appendix
1. INTRODUCTION

We at Standard Bank would like to extend our deepest condolences to you for the loss of your loved one. We
understand the delicacy of your circumstances and want to assure you that we are dedicated to making the
process of settling your loved one’s financial affairs as seamless as possible for you and your family.

We are committed to our clients and are here to assist you in any way we can during this difficult time.

The information below is intended to help you through the process. We trust that this will help clarify any
questions or concerns that you may have. We do understand that each estate is unique, and that
the information may not always fit your particular circumstances. If you have any further questions,
please contact our Deceased Estates Department, whose contact details appear at the end of this Guide.
2. IMPORTANT FIRST STEPS AND PRACTICAL TIPS
When somebody close to you passes away, these are the first things you should do:

Obtain the original ID of the Obtain information regarding Make sure that the surviving
Deceased and their latest original financial statements (bank spouse, any dependent minor
Will (if any). statements, last salary slip, bond children and pets have a safe
details, municipal accounts, place to stay and are properly
share certificates and business cared for.
registration certificates), policies
(life, house or vehicle insurance
Make certified copies of the
policies, provident/pension fund
ID, Will and all other important
or annuities) and funeral cover.
documents (for example Form Make sure that the Deceased’s
BI-1663 Death Notice, Death home is being occupied and
Certificate, marriage certificates looked after (prevent illegal
and antenuptial contracts, squatting) and that movable
Find out what debit orders or
divorce/maintenance orders, birth assets such as vehicles or
monthly payments were due by
certificates of minor children of firearms are kept safe, being
the Deceased and try to maintain
the Deceased, deeds of transfer, maintained and not allowed to get
the necessary ones (especially
vehicle registration papers, into the hands of reckless people.
insurances, municipal accounts
firearm licences and last tax
and school fees). It is always
return).
helpful to cancel subscriptions
(for example DSTV, phone
You can certify documents at
accounts, magazines, medical aid Report the death to SARS.
any police station or attorney
and holiday clubs) as soon
firm for free. Make sure that the
as possible.
commissioner of oaths signs,
stamps and dates every single
page of all copies, that all copies
Collect all post that is relevant
are clear and not faded and that Close all social media accounts.
to the estate.
the stamp is not smudged.
2. IMPORTANT FIRST STEPS AND PRACTICAL TIPS (CONT.)

What cannot be done?

Withdrawal of money out of any of Withdrawal of the Deceased’s Using the Deceased’s ID to open
the Deceased’s bank accounts on pension or provident fund monthly up new credit agreements.
or after the date of death. pay outs after the date of death.
3. OVERVIEW OF THE DECEASED ESTATES PROCESS

01 NEXT OF KIN:
Obtain required information 06 EXECUTOR:
Compile a Liquidation and 07 CREDIT PROVIDERS:
Review L&D account and raise
and report death to the Distribution (L&D) account any objections.
Masters Office. based on financial profile
of estate.
READ MORE: READ MORE:

02 NEXT OF KIN:
Lodge any funeral claim or 05 CREDIT PROVIDERS:
Lodge claims against the estate 08 EXECUTOR:
Obtain sign-off from Master
credit/life cover claim to the and pay out any credit balances before disbursement of funds.
respective insurance provider. to the estate.

READ MORE:

03 MASTER OF THE COURT:

Appoint an executor (in terms 04 EXECUTOR:
Publish death and notify all 09 EXECUTOR:
Once all accounts are settled
of the will or as nominated by credit providers. and closed, send proof of
the family). settlement to Master, who will
close the estate.
01
1. If a South African resident passes away, normally a doctor (or a traditional leader/Home Affairs official/SAPS official) will complete the
Notice of Death, which specifies the cause of death (Form BI-1663 – usually 4 to 8 pages). Click on the following link to see what this
form looks like: https://www.sahc.org.au/pdf/dha/DHA-1663%20A.pdf

2. A Death Certificate is then usually obtained from the Department of Home Affairs by the Undertaker/Funeral Parlour
(the deceased’s old green ID is also stamped ‘Deceased’ in red letters, so that it can no longer be used).

3. The Death is reported to the Master of the High Court with a Death notice (Form J294) completed by either the spouse or blood
relative living in the same district where the Deceased passed away (filed at the Master’s office within 14 days of the date of death).

Important to Note: In instances where the Deceased’s estate has not been reported to the Master’s Office, an interested
party including an heir or a creditor may nominate an Executor by the Master to take control of the assets in the
Deceased’s estate and to finalise the administration of the same (Section 19 of the Administration of Estates Act).
4. Below are some of the documents that you need to provide to • Nominations Form; and
the Master’s Office (for an overview of the full requirements, • Form J155 – Undertaking and Acceptance of Master’s directions
you can click on Master/Forms (justice.gov.za) (if small estate) or a Form J190 – Acceptance of Trust as
Executor (if large estate).
• Original Will or Next of Kin Affidavit (Form J192 – if no Will);
• If the nominated Executor was not exempted in the Will from
• Affidavit of care (only if Deceased left minor children); providing security for carrying out their duties diligently or
if there was no Will and the Executor is neither the parent/
• Inventory list (Form J243); spouse/child of the Deceased nor a registered professional
Executor (in other words, an attorney or accountant firm),
• List of creditors (only if the estate is worth less then the nominated Executor must also provide a Form J262 –
than R250 000,00); Undertaking and Bond of Security.

• Declaration that the estate has not been reported to another Also submit certified copies of the Death Certificate, the
Master’s office; Identity Document (ID) of the Deceased, the ID of the
nominated Executor/Master’s Representative and all
• Declaration of Marriage; documents nominating them, the marriage certificate (and
antenuptial contract, if there is one) or divorce order, birth
certificates of minors and proof of the values of the known
assets in the estate.

A useful website to note at this point is the Master’s official website, where all the above forms appear in editable PDF
format (a useful checklist is also provided). Click on the following link: https://www.justice.gov.za/master/forms.html
02
5. Obtain a Letter of Executorship (LOE), Form J238, if it is a large estate, or a Letter of Authority (LOA), Form J170, if it is a small estate,
from the Master’s Office, which will stipulate the estate’s unique estate number on it (e.g. Estate No. 123/2021).

Helpful Hint: The Master’s Office provides a brochure outlining the services of the Master and the process of
reporting a Deceased estate. You can access the brochure using the following link: 2018-Master-Booklet.pdf
(justice.gov.za)
07
If the gross assets of the estate are more than R250 000,00 (i.e. it’s a large estate) then the Master of the High Court will
issue Letters of Executorship and the process outlined below will apply – it is the Executor’s responsibility to complete
the following steps:

a. Open up an estate bank account (this is where the Standard Bank branches come into the process).

b. Obtain formal valuations of the assets;

c. Complete an income tax return on behalf of the estate;

d. Collect moneys due to the estate.

e. Pay out emergency maintenance to the surviving spouse or the Deceased’s dependants while the estate is being finalised.

f. Advertise for creditors to lay their claims against the estate (J193 Notice placed in the Government Gazette and a local newspaper).
Creditors have 30 days in which to submit claims to the Executor.

g. Draw up a Liquidation and Distribution Account (L&D account) which is sent to the Master for approval;

h. Respond to queries raised by the Master on the L&D account.

i. Once the Master’s queries have all been addressed and the Master has approved the L&D account, place the advertisement
(and place the J187 Notice in the Government Gazette and a local newspaper) saying that the L&D account is waiting for inspection
at the Master’s Office and the Magistrate’s Court with jurisdiction for 21 days.

j. If no objections are received regarding the L&D account, proceed to liquidate and/or distribute the assets among creditors, heirs and
legatees. Also ensure that the assets are transferred onto the new owner’s name.

k. Pay estate duty and capital gains tax to SARS, if necessary. (Currently, only estates that have a net value of over R3.5 million
are liable to pay estate duty.)

l. Send proof of the distributions to the Master and fill in an ‘application for discharge’ by returning the Letters of Executorship.

Note that the Executor can only pay their own account when all other distributions have been made
(Executor’s fees are usually 3.5% of the gross asset value of the estate). Once all these steps have been
completed, a Filing Notice is issued by the Master confirming that the estate has been properly wound up.

Important Note: The heir(s) can only receive benefits from an estate after all creditors’ claims as well as
any claims that SARS may have against the Deceased are paid in full. So even though a property may be
registered in the name of the Deceased, if he/she has no life cover, the outstanding balance on the loan/bond
account must first be settled before any heirs can inherit the immovable property. If there is a cash shortfall,
some of the assets in the estate may have to be sold for the purpose of settlement with creditors before any
heirs may inherit.

If the gross assets of the estate are less than R250 000,00 (i.e. it’s a small estate) then the Master of the High Court will issue
Letters of Authority that will specify what assets are to be dealt with by the Master’s Representative. No estate account needs
to be opened for small estates, no advertisements are placed in the Government Gazette or a local newspaper and no L&D
account is drawn up. Once the winding-up process is completed, the Master’s representative also gives proof to the Master
that proper distribution has been done, the Letters of Authority are handed in and the Master issues a Filing Notice confirming
that the estate is now closed.
4. HOW CAN STANDARD BANK ASSIST YOU?

A) The Standard Bank

branches B) Standard Bank C) Standard Trust Limited
Insurance Brokers (SBIB)
The business bankers in the branches assist
Executors with the opening and closing of the SBIB pays out Credit Life and Life Cover insurance
estate bank account and can also assist the If the Deceased has a Will with Standard Bank,
claims if the Deceased had valid insurance in place then Standard Trust would probably have been
Executor or a family member with the submission at the date of death. It also pays out funeral claims
of the required documents of the Deceased’s nominated to act as the Executor of the estate.
to the relevant parties. To contact SBIB please They will then assist you in the whole process of
Estate to us at the Standard Bank Deceased make use of the following email addresses:
Estates Department. administrating and winding up the estate end-
to-end. Please use the following link to contact
Funeral claims to be sent to: Standard Trust Limited:
To open an estate bank account we require the FuneralClaimsDocuments@standardbank.co.za
following documents:
https://www.standardbank.co.za/southafrica/
Credit Life Claims to be sent to: personal/products-and-services/insure-what-
• The original ID of the Deceased. Creditlifeclaims.sbib@standardbank.co.za
• The original Death Certificate. matters/your-future
• The original Letter of Executorship. Claims for Direct Life/Frank.Net to be sent to:
• The original ID of the Executor. If you would like assistance with the winding up of
claims@standardbankinsurance.co.za the estate, you can contact Standard Trust Limited.
• The Executor’s proof of residence.
All the relevant information is provided through the
To log a claim relating to the Funeral Cover/Policy, following link:
Trust accounts are managed by the branches and simply use our WhatsApp line:
any amendments to trust accounts following the
death of a trustee can be made at the branch. https://www.standardbank.co.za/southafrica/
Send the message “Hi” to 064 570 0291, then personal/products-and-services/insure-what-
select option 4 “Life Insurance” and follow the matters/your-future/estate-administration
Helpful Hint – Once you have successfully prompts.
opened an estate bank account with the Branch’s
assistance, ask them to explain the full benefit of
the facility to you. To locate your nearest Standard
Bank branch, please click on the following link:
https://www.standardbank.co.za/southafrica/
personal/covid-19/support/branch-locator
 D) Standard Bank Deceased Estates Department

When a Standard Bank client passes away and we are informed about this and receive the Death Certificate, the client’s profile is flagged on our
systems as ‘deceased’ and the account can no longer be used.
It is important to notify the Bank immediately when somebody passes away so that the relevant bank accounts can be frozen to ensure that no
unauthorised persons can withdraw any money. Thus unauthorised transactions are prevented and the rightful heirs’ inheritance is protected.
Once the Branch, an Executor, the Master’s Representative or a family member notifies us of the Deceased’s death, we need to register the
matter on our side.

In order to register the Deceased’s estate, we require clear, certified copies of ALL the following documents:

1) The IDs of the Deceased, the Executor or the Master’s Representative and all appointed Agents.
2) Power of Attorney (if the Executor appointed an Agent).
3) The Death Notice (completed Form BI-1663).
4) The Death Certificate.
5) Letters of Executorship/Authority.
6) Proof of residence of the Executor or the Master’s Representative and all their Agents.
7) Contact details of the Executor or the Master’s Representative and next-of-kin.
8) Proof of an estate bank account (if it is a large estate).

Note that, if any of the above documents are missing, we cannot process your request.

In the case of rejected matters, you will receive an email informing you of the rejection together with the
reason/s for it. The rejection email will outline all the outstanding requirements, which have to be submitted
by email to deceasedqueries@standardbank.co.za and not to the system-generated email address (‘K2
Admin’), which does not have a mailbox.

Likewise, please do not respond to the automated-response email. Rather direct all your
correspondence to the Deceased Estates Queries mailbox at deceasedqueries@standardbank.co.za
• We will validate all the documents provided and mark all the Deceased’s bank accounts that are held with Standard Bank with the ‘deceased’ status.

• Once a ‘deceased’ status is placed on the account, the account is frozen and charges will be stopped as of the date of death.

• Once the documents are validated, our Transactional Team will pay out the credit balances on the savings and investment accounts into the estate
bank account (or the personal bank account of the Master’s Representative). They will then close these accounts and supply the Executor with
Certificates of Balance, confirmation of account closures, bank statements and tax certificates.

• Where applicable, our Fulfilment Team will submit formal claims for the debit balances of all lending products (secured and unsecured) to the
Executor and facilitate the recovery of all outstanding debt from the estate.

• If the Deceased had valid credit life insurance on any Standard Bank accounts, this Team also helps to lodge the estate’s claims with Standard Bank
Insurance Brokers (SBIB).

• The Standard Bank Deceased Estates Department will pay out credit balances on lending products and send out updated balances, statements,
paid-up letters and debit order cancellations.

• The Standard Bank Deceased Estates Department will acknowledge your request within 48 hours after receiving your email, and we will process
your request within seven to 10 business days from the date on which all the required documents were validated.

• Our department does not perform the role of an Executor or the Master’s Representative – that is done by Standard Trust Limited.

Important note: We are not authorised to do anything before an Executor or a Master’s Representative is
appointed. We are also not legally allowed to provide family members with bank statements without an official
letter from the Master’s Office authorising us to do so.

Furthermore, if there is no funeral policy on which to make a claim and the family does not have the cash available
– therefore desperately requiring us to access the Deceased’s bank accounts to pay for these urgent costs – we
will require Letters of Executorship or Authority or a formal letter from the Master to allow us to transfer these
emergency funeral funds.

If you require emergency funeral funds, kindly contact the relevant Master’s Office. The link for details of the
Master’s Office is as follows: https://www.justice.gov.za/master/contacts.htm
5. WHAT HAPPENS TO DEBT OWED TO THE BANK?

Home Loans

1. The first step is to find out if there is active life cover over the bond (and to what extent it will settle the outstanding balance). The
Standard Bank Deceased Estates Department will help you lodge a claim with the insurance company if the insurance was taken out
with SBIB.

2. If there is no active life cover, then the remaining holder of a joint bond needs to make monthly payments until the balance is settled out of
the estate (if the estate is solvent).

3. If there is no money in the estate to settle the full bond amount owing, the remaining bondholder must apply for a section 45 substitution
application in order to take over the full monthly payments of the bond (this is seen as a cancellation of the current joint bond contract and
a subsequent section 45 substitution/reapplication for a single-bond contract). This process is subject to a full affordability assessment.
If the section 45 substitution application is successful, the bond is placed only in the name of the surviving bondholder on the title deed
at the Deeds Office. This cancellation and substitution process is all done through our Home Loans Department and not in the Deceased
Estates Department. To contact our Home Loans Department directly click on https://www.standardbank.co.za/southafrica/personal/
products-and-services/borrow-for-your-needs/home-loans

4. If the surviving bondholder does not pass our home loan affordability assessment as a single bondholder, they can use our EasySell option.
EasySell is a private-sale option that is designed to help you sell your property and settle your home loan debt in the most stress-free
way possible. For more information on this option, please follow the link at https://www.standardbank.co.za/southafrica/personal/
products-and-services/customer-solutions/easysell
 Vehicle and Asset Finance (VAF)

1. The first step is to find out if there is active life cover for the vehicle. The Standard Bank Deceased Estates Department will help you lodge
a claim with the insurance company if the insurance was taken out with SBIB.

2. If there is no life cover, then the estate will need to settle the outstanding balance. If this is not a viable option, the person who is due to
inherit the vehicle is called on to take over the agreement and maintain the monthly payments. If it is your intention to have the vehicle
loan transferred onto your name, please approach our Vehicle and Assist Finance (VAF) Department to determine if this will be possible.
The link to contact our VAF Department directly is https://www.standardbank.co.za/southafrica/business/products-and-services/
borrow-for-your-needs/vehicle-and-asset-finance

3. Please ensure that we are informed of the address where the vehicle will be stored while the estate is being finalised. Any change to the
address must be promptly communicated to us.

4. It is important to note that a vehicle is a vulnerable asset once the owner has passed away and therefore, if no other responsible
party accepts responsibility for the vehicle and no payments are forthcoming on the vehicle account, after 30 days have passed
from the date on which the family was notified that payments need to be maintained, an outside collection agent (OCA) will be
asked to collect the vehicle.

5. Should you decide as a family that you do not wish to keep the vehicle, you may arrange for the Bank to collect the vehicle (this is known as
voluntary surrender). Please contact us at deceasedqueries@standardbank.co.za to find out more about our voluntary surrender process.
 Loans/Cheques/Credit Cards

The first step is to find out if there is If there is no active life cover, the claim The Executor will then make the
active life cover on the account. The will be lodged against the estate and required arrangements to have all
Standard Bank Deceased Estates the Executor will include the claim on accounts settled and closed.
Department can help you lodge a claim the L&D account.
with the insurance company if the
insurance cover was taken out with SBIB.

Business Accounts

1. Our Deceased Estates Department deals with the business accounts of a sole proprietor or a partnership where the Deceased was the
owner or a partner. These types of businesses do not have ‘juristic personality’ and are therefore legally seen as part of the Deceased’s
estate. Furthermore, Sole Proprietorship businesses are linked to the Deceased’s existence and will need to be dissolved once the
Proprietor passes away.

2. The Deceased Estates Department does not deal with the business accounts of close corporations, public companies (Ltd) or private
companies. These business entities have a ‘juristic personality’ and therefore can continue to operate when the Deceased passes away.
It is the Executor’s responsibility to either run a single owned close corporation or to request that the other members/directors pay out
the value of the Deceased member’s interest/shareholding into the estate for distribution. However, our Standard Bank branches or the
Business Support and Recoveries (BS&R) Team can assist. For example, where new sureties need to be added to the business accounts,
Executors need to be granted signing powers over the business bank account, etc.
6. PROCESS TO FOLLOW FOR FUNERAL
PAYOUTS

Permission from the Master of the High Court is required before the relevant bank can release funds for funeral payouts.

Usually a family member approaches the Master with the request for access to the Deceased’s funds, taking along with
them the quotes/invoices and the costs that justify their request. The Master then issues a formal letter that grants the
bank permission to release the specified amount to the specified suppliers based on the quotes/invoices.

This formal letter is the authority that we use to process payments from the Deceased’s bank account directly to the
supplier, for example the funeral parlour. In other words, we process payments on behalf of the estate as instructed
by the Master.

• When sending through a request for emergency funeral funds, please provide the formal letter together
with the following:

– Certified copies of the Deceased’s ID and the Death Certificate.

– The quote or invoice from the funeral parlour or other supplier.

• These three documents must be sent to deceasedqueries@standardbank.co.za

• Once all required documents have been submitted to the above email address, you can contact us on 0860 439 770
if you need any urgent assistance.
7. IN CLOSING
Once again we extend our deepest condolences to you for your loss. We hope that the above information has been helpful to you.
As we said earlier, we at the Standard Bank Deceased Estates Department are determined to make this process as seamless as
possible for you. Please reach out to us, using the details below, if you have any further questions or concerns.
We will be happy to assist.

Warm regards
The Standard Bank Deceased Estates Team

Standard Bank Deceased Estates contact details:

All requests relating to deceased estates must be sent Call Centre Standard Bank Deceased Estates
to the General Mailbox: telephone number: website:
0860 439 770
Deceasedqueries@standardbank.co.za https://www.standardbank.co.
za/southafrica/personal/prod-
The escalation process must only be followed if all the ucts-and-services/customer-solu-
requested documents were submitted to the General tions/deceased-estates
Mailbox, no rejection email was received and the normal
turnaround times have all lapsed.
Escalation can be sent to:

DeceasedEscalations@standardbank.co.za
8. APPENDIX

A. Understanding the Terminology • Liquidation and Distribution Account • Shortfall

A liquidation and distribution (L&D) account is This refers to the balance remaining on the account
• Credit Life/Life Cover essentially a written report addressed to interested after a payment is received either through insurance
This is insurance that is taken out to cover the parties (the Master, heirs and creditors), stating or from the estate. The estate is responsible for
outstanding debt on an account in the event of the process of collecting and settling the assets and settling any shortfalls on an account.
your death. debts, and the handing over of what is left to the
heirs of the Deceased’s estate. • Substitution of debtor
• Estate To remove or replace a bondholder on your joint
This is the net worth of an individual and it includes • Master of the High Court home loan, following the death of one of
all assets, cash, possessions and liabilities that the This division of the Master’s Office supervises the the bondholders
Deceased owned or had a controlling interest in at administration of deceased persons’ estates.
the time of death. Substitutions are processed as new loan
The purpose is to ensure an orderly winding up of the applications, which will involve an affordability and
• Estate Bank Account financial affairs of the deceased, and to protect the credit assessment.
This is a new account opened in the name of the financial interests of the heirs.
estate after someone has passed away. • Voluntary Surrender
To locate your nearest Master’s Office, you can visit This is when the next-of-kin contacts the credit
The account is used by the Executor to: their website on https://www.justice.gov.za/ provider to return the vehicle when repayments can
master/contacts.htm no longer be honoured.
• Receive any funds owed to the
Deceased Estate; • Notification of Death (BI1663) The credit provider will make arrangements to sell
• Make payments to any credit provider in line A document that is completed when a death is the vehicle and will credit the proceeds of the sale
with a claim lodged against the estate; and reported and that details the date and cause of to the account. If there are any shortfalls, this will be
• Finalise the distribution of assets to the death. claimed from the estate.
beneficiaries of the Estate.
It can be completed by a medical practitioner, a
• Executor traditional leader (for rural areas), a funeral parlour, a
The person appointed to administer the Deceased’s Home Affairs official or an SA Police Service official.
last Will and testament.
It is required together with the deceased’s ID so that
a death certificate can be obtained.
B. Overview of the Law1 regulating Deceased
Estates in South Africa
• If it is a large estate (gross assets above R250 000,00), then an
• South African Deceased Estates Law applies when a natural person Executor needs to be appointed by the Master of the High Court.
(who was ordinarily resident in the Republic) passes away.
• If it is a small estate (gross assets below R250 000,00), then a
• A person can either die testate (with a valid Will) or intestate Master’s Representative needs to be appointed.
(without a valid Will).
• Whether an Executor or a Master’s Representative is appointed,
• A valid Will is one that represents the deceased’s last wishes, has their job in terms of Deceased Estates Law is to make sure that
been expressed in writing and is signed by the deceased and two all the assets that were owned by the Deceased are collected
independent witnesses (people who do not benefit in any way from and accounted for, all their debts and tax are paid out using the
the deceased’s estate in terms of the Will that they are witnessing). available assets, and that whatever is left over from this goes to the
rightful beneficiaries (the legatees or heirs nominated in terms of
• If there is no valid Will – the estate is usually inherited by the legally the Will or, if there is no valid Will, to the closest surviving relatives
recognised spouse or the closest surviving relative according to in terms of Intestate Succession).
bloodlines and various other rules and formulas in the relevant
Intestate Succession Act. It is only if there is no living relative that
can be traced – that the estate is then forfeited to the State.

• If there is a valid Will, usually an Executor, a Guardian and/or a

Trustee will be appointed and Legatees (people who inherit specific
items) and Heirs (those who inherit free residue) will be nominated.

Regulated mostly though the provisions of the Administration of Estates Act 66 of 1965, but also
other Acts that apply, such as the following:

Intestate Succession Act 81 of 1987

Wills Act 7 of 1953
Estates Act 66 of 1965
Estate Duty Act 45 of 1955
Maintenance of surviving spouse Act 27 of 1990
Recognition of Customary Marriages Act 120 of 1998