This practical course focuses on the preparation and submission of the Liquidation and Distribution (L&D) Account in compliance with the Administration of Estates Act. Participants will learn how to draft an accurate L&D Account, deal with administration costs, manage inspection requirements, and address common estate administration challenges.
Once all estate assets have been identified and liabilities established, the executor must prepare and lodge a Liquidation and Distribution Account with the Master of the High Court in accordance with Section 35 of the Administration of Estates Act. This critical document reflects the financial position of the estate and serves as the basis for the distribution of assets to heirs and beneficiaries. This practical course provides step-by-step guidance on drafting the L&D Account, understanding the requirements of Schedule 4 and Regulation 5, managing administration expenses, and complying with inspection procedures. Participants will also examine practical issues such as cash shortfalls, outstanding bonds, and the impact of surviving spouses or co-owners on the final distribution of the estate.
Key Topics Covered:
• 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
• Executors of Deceased Estates
• Estate Administrators
• Fiduciary Practitioners
• Attorneys and Candidate Attorneys
• Accountants and Tax Practitioners
• Chartered Accountants (CA(SA))
• Professional Accountants (SA)
• Trust Officers and Estate Clerks
• Financial Planners and Wealth Advisors
• Professionals involved in preparing or reviewing L&D Accounts
• Anyone seeking a practical understanding of the estate finalisation process
