Nedbank Deceased Estates

Dealing with the passing on of a loved one is never easy. Amid the emotional turmoil of suffering the loss of a family member, spouse or close friend, a number of practical tasks have to be carried out. However, the majority of us have no idea what these tasks entail.

At Nedbank, we understand that you may not know where to start and you may be feeling lost. That’s why we have created a guide to help you through the process and, hopefully, answer all your questions. For your convenience we highlight the most important points below.

The steps below may seem daunting to you. However, remember that any reputable undertaker will be able to assist and guide you through the process.

Step 1: Obtaining a death certificate

If your loved one passed away in a hospital, the medical practitioner will complete a BI-1663 form (notification of death) and give a copy to the next of kin.
If your loved one did not pass away in a hospital, the mortician will complete the form and hand it to the next of kin.
The BI-1663 form, with the deceased’s valid identity card/document, must now be taken to the nearest office of the Department of Home Affairs.
The Department of Home Affairs will then issue the death certificate.

Step 2: Reporting the death to the Master of the High Court

To report the death of a person the original or a certified copy of the death certificate and the stamped valid identity card/document of the deceased are required.

The following documents, where applicable to the specific situation, will also be required:

an original or certified copy of the marriage certificate;
a declaration of marriage by the surviving spouse indicating the type of marriage;
the original will and any annexures that may apply;
a completed next-of-kin affidavit if there is no will in place;
a completed inventory form;
a list of the deceased’s creditors; and/or
a declaration to confirm that the estate has not been reported at another Master’s office.

These documents must be taken to the Master of the High Court’s office in the area where the deceased lived.

Steps 3: Appointing an executor

For estates valued at more than R250 000:

If an executor is not specified in the will of the deceased, the Master will appoint one on the deceased’s behalf. The family may also nominate an executor if there is no will.
The Master will issue a letter of executorship to the executor.

For estates valued at less than R250 000:

The Master will appoint a Master’s representative.
The Master will issue a letter of authority to the Master’s representative.

How the death of a spouse/partner will affect your home loan

The executor will make contact with Nedbank as one of the creditors to the estate of your loved one.
If you were married in community of property, you will be held jointly and severally liable for the outstanding balance on the bond account as the property forms part of your joint estate.
If the deceased had active life cover in his/her name, Nedbank will lodge a claim with the insurance company.As surviving spouse or heir you may apply through Nedbank for a section 45 or 57 endorsement, also referred to as a ‘substitution of debtor’ application. That means that the ‘name’ on the title deed of the property is changed to that of the applicant only. This application is subject to credit approval.

To help ensure the best possible outcome in respect of an outstanding home loan amount in the unfortunate event of the passing on of your loved one, we encourage you to contact the Nedbank Deceased Estates Department for assistance.