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What are the duties of an executor of an estate?
The main duties of the Executor of an Estate are:
Taking control, protecting and transferring of the deceased assets as per the last will and testament or as per the Intestate Succession Act;
Taking care of all the legislative requirements;
Paying all debts and administration expenses;
Ensuring that the final Income Tax returns are lodged and all taxes are dealt with; and
Distribution of the final balances in the estate.
The whole administration process is supervised and validated by the Master of the High Court, who also performs a judicial function. In other words, deals with any objection lodged against the Liquidation and Distribution Account or any contestation made against a will.