To administer the Deceased Estates of high-net worth clients in respect of Estates over R5 million and complicated Estates which involve Capital Gain, Estate Duty, Farms & Companies.
- Report the Deceased Estate to all relevant stakeholders via written correspondence, newspaper and Government Gazette (Master of the High Court, SARS, Banks, Insurance Companies, Auditors), to obtain letters of Executorships, Certificate of Balance, Evaluations of Shares, Deeds Search, Outstanding tax returns, Membership of interest in Close Corporation. In terms of the Estate Administrations Act the Executor cannot administer an Estate until they are in receipt of this documentation.
- Be knowledgeable on the Estate Administration Act, in order to comply with all the legal aspects in complex deceased estates.
- Ensure that queries do not turn into complaints by addressing these within a period of twenty four hours.
- Perform all other duties as reasonably assigned.
- Analyse the content of the Will to establish whether it is executable or not (e.g. Farm property bequeath to more than one person, this is not possible in terms of the Act 70 of 1970). After analysing the Will consider possible solutions and make suggestions to the client (i.e. Redistribution agreement, Close Corporations, Companies / Deed of Election / Possible cash shortfall, Estate duty payable, possible Capital Gains Tax implications).
- Arrange meetings with clients to personally discuss the Deceased Estate and establish the asset value, profile and liabilities by taking an inventory of all assets the deceased held at the date of death. This information can only be obtained from the family of the deceased at the initial meeting.
- Receive leads from Fiduciary Consultants within Absa Trust / Brokers and/or incoming mail from the Absa bank branches or phone in clients on high-net worth clients / Private Bank that require assistance in processing Deceased Estate.
- Build and maintain a relationship with various stakeholders (i.e. valuators, auctioneers, attorneys, Master of the High Court, South African Revenue Service) by continuously engaging and ensuring satisfactory client service and good relations.
- Adhere to risk and compliance policies in terms of Environmental Health and Safety, Information Security, Records Management and Money Laundering, Sanctions etc. Non-adherence to Absa’s Policy & Procedures may lead to disciplinary action.
- Computer Literate Level: Do without Supervision.
- Supervisory Skills Level: Do without Supervision.
- Knowledge of Deceased Estate, Estate Duty Act Level: Do without Supervision.
- Interpersonal Skills Level: Do without Supervision.
- Communication Skills – verbal / written Level: Do without Supervision.
- Self- motivated Level: Do without Supervision.
- Leadership Skills Level: Do without Supervision.
Qualification & Experience:
- Five (5) years’ experience in deceased estate administration
- Relevant B Legal degree (LLB) or Advanced Estate & Trust Diploma
- Two (2) years’ experience in complex deceased estate administration environment (Preferred).
- Diploma in Estate & Trust or Deceased Estate Administration via LEAD.
Company: Absa Group Limited
Vacancy Type: Full Time
Job Location: Pretoria, Gauteng, South Africa
Application Deadline: N/A