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Can an executor of a will spend the money?
An executor may use the money in an estate for payment of fees and costs related to the administration of the deceased estate. Executors of wills are legally liable for the estate and are required by the Master of the High Court, especially when the executor is an individual and not a trusted estate administration company, to furnish security to the value of the estate before they are granted the Letters of Executorship (LoE) by the Master. We are extremely proud of our impeccable estate administration track record, and we are not required to furnish security to the Master when acting as executors of our clients' wills.