How does a deceased estate work?
Emma Miller
Updated on January 27, 2026
A deceased estate comes into existence when a person dies leaving property or a document which is a will or purports to be a will. Such estate must then be administered and distributed in terms of the deceased’s will or failing a valid will, in terms of the Intestate Succession Act, 81 of 1987.
Why have a deceased estate?
The deceased estate holds the assets of the deceased in trust from the time of the death of the person concerned until the transfer of the property and assets to their beneficiaries as nominated in their will.
How long does an estate last after death?
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.
How do you deal with an estate of a deceased person?
Key Steps and Time Line for Settling an Estate
- File the Will and Probate Petition.
- Secure Personal Property.
- Appraise and Insure Valuable Assets.
- Cancel Personal Accounts.
- Determine Cash Needs.
- Remove Estate Tax Lien.
- Determine Location of Assets and Secure “Date of Death Values”
- Submit Probate Inventory.
What if a deceased person has no estate?
When a person dies, a probate court distributes his or her assets, including paying outstanding debts. If there are no assets, the creditors will receive no money. In most cases, the court will make a final accounting of all assets distributed and all creditors paid and then close the probate estate.
Is it good to buy deceased estate?
Purchasing a deceased estate can represent good value with a motivated seller, but it’s important that you carefully review the property ownership structure before entering into the contract of sale to ensure that the property will be transferred correctly.
What makes up the estate of a deceased person?
An Estate is a person’s net worth at any point in time and thus the sum of a person’s assets less all liabilities. Life has a beginning and an end and an Estate arises on a person’s death
What does it mean when a relative has an estate?
An estate only represents your relative’s interest in the property he or she owned at the time of death. For jointly owned property, the estate owns only the share or interest that your relative was entitled to receive for the property. The joint owners retain their interest in the property.
Who is the sole owner of an estate when someone dies?
Assets Excluded from Probate. When someone dies, the surviving co-owner becomes sole owner of the assets of an account, business or real estate property. Revocable living trust. A person transfers ownership of assets ranging from securities to real estate to jewelry. The trust becomes the owner of the property placed within it.
How can I deal with the estate of someone who has died?
You may need to apply for the right to deal with the estate of the person who’s died (also called ‘probate’). If you already have the right or have probate (as an executor or administrator) you can start dealing with the estate. Check if you need to apply for probate.
