All assets, income and liabilities of a deceased person are referred to as a deceased estate.. Once a death is reported to the Master of the High Court, an executor or a Master’s representative is nominated and appointed, depending on the value of the estate, to administer the deceased estate. The Executor is not liable for the debts of the deceased estate but is instead mandated to act on behalf of the estate in winding up its financial affairs.
The deceased’s estate carries the responsibility of paying debts and claims filed against the deceased estate using the assets in the estate. After someone dies, anyone owed money or property by the deceased can file a claim against the estate. Estate claims range from debt types such as credit card debt, loans, mortgages, unpaid wages, breach of contract, etc. The appointed Executor will deal with all matters and claims against the deceased estate. PM Attorneys assists both aggrieved loved ones and creditors in initiating claims against deceased estates.