Administering, winding up and finalising the deceased estates of clients and third-party estates referred to clients deceased prior to their death, working with the Estate’s Administration Assistant.
Estates administration assistant.
Executors and co-executors.
Wealth Advisors and Assistants.
Fiduciary Specialists and Assistants.
Suppliers and service providers in the private and the public sector, both locally and internationally (including but not limited to the Master of the High Court, SARS, financial institutions, claimants against the estate, accountants of the deceased, conveyance attorneys, CIPRO, agents
Key Performance Areas / Strategic Business Deliverables:
Establish initial contact with the family of the deceased and the Wealth Advisor (and their assistant), with the assistance of the Fiduciary specialist and the estates administration assistant and where possible attend the estate reporting meeting.
Explain the process to and effectively communicate with beneficiaries and Wealth advisors to manage their expectations.
Provide regular estate administration progress reports/ feedback to all beneficiaries and executors in compliance with the timelines set by the Manager.
Work with the estates administration assistant to effectively communicate (drafting, typing, scanning, sending emails, making calls, following up) in respect of all documentation and activities required to wind up the estate.
Work proactively with the executor and estates administration assistant to administer the deceased estates in compliance with good governance and statutory requirements.
Build and maintain professional relationships with beneficiaries and advisors.
Receive and lodge the reporting documentation from the Fiduciary specialist.
With the assistance of the estate’s administration assistant, co-ordinate correspondence and meetings with relevant persons regarding the reporting and administration of the estate.
Identify and administer all policies in the correct manner.
Obtain values and collect funds for the account of the estate.
Perform financial calculations and reconciliation of cash assets.
Manage the estate bank account and liquidity.
Arrange payment of claimants.
Liaise with SARS, accountants and other institutions to finalise the income tax, capital gains tax and VAT affairs of the deceased.
Liaise with conveyancing attorneys and the transferees of immovable property.
Interact with the Master`s office on regular and proactive basis.
Check reporting documentation completed by the Fiduciary specialist, complete further documentation and report the estate.
Receive the Letters of Executorship.
Correctly complete all relevant documents and obtain signatures.
Correctly draft the liquidation and distribution account (in terms of valuations, the law and the Will).
Correctly calculate and draft the Estate Duty addendum.
Efficient hard and soft file management, including closing of files and sending files to storage.
Safe custody of original documents.
Return all original documents of the deceased to the family, where applicable, and send original title deeds to the beneficiaries.
Ensure that all estates assets are insured against loss.
Ensure that all deceased estates administration processes comply with governing legislation to preclude reputational and other risks and to comply with the internal fiduciary service model.
Update statistics and have regular meetings with the Manager to identify possible risks.
Respond to client queries and complaints within the timeline set by the Manager.
Escalate issues or complaints to the Manager.
Identify and action business development opportunities and enhance cross sales.
Assist with the implementation of specific projects in the fiduciary team.
Identify and recommend opportunities to enhance processes, systems and policies and support the implementation of new processes, policies and systems.
Keep abreast of legislation and other industry changes that impact on role by reading the relevant newsletters and websites.
Improve personal capability and stay abreast of developments in field of expertise by identifying training courses and career progression for self through input and feedback from Manager.
Ensure personal growth and enable effectiveness in performance of role and responsibilities by completing all learning activities.
Contribute to a culture conducive to the achievement of transformation goals.
Maintain knowledge and share knowledge with colleagues.
Motivate, inspire and support colleagues.
Preferably a Law Degree.
Relevant certificate in estate planning or estate administration.
5 years’ relevant practical experience, equal to the requirements to obtain a FISA certification of Senior Estates Administrator.
Computer Competencies Requirements:
Microsoft packages, Outlook, Word and Excel in particular.
The ability to learn and use systems with confidence.
Preferably bi-lingual in English and Afrikaans
Excellent relationship skills and tactfulness
Good writing and drafting skills, including excellent typing ability
Strategic thinking – detailed orientated without losing sight of the big picture
Excellent organisational skills and time management ability – planning and execution skills
Professional and confident communication skills, both verbal and written
Attention to detail and good data management ability
Ability to manage workload and meet deadlines
Ability to work in a pressurised environment and set priorities.
Practical, legal and accounting knowledge to draft liquidation and distribution accounts and cash reconciliation statements
Ability to attend to complex calculations such as usufruct calculations
Relevant tax and estate administration legislation
Understanding of the financial services industry
Fiduciary and other local compliance requirements (Master of the High Court, SARS, FICA, FAIS, FATCA, exchange control)
Emotionally mature and stable
Assertive yet professional
Client relationship and service-orientated attitude
Dynamic, flexible and enthusiastic
Honesty, integrity, accountability and responsibility of the highest order
Highly self-motivated, focussed and proactive
Respect for the confidentiality of clients’ affairs
Interpersonal understanding and empathy
Capacity to work both as member of a collaborative team and independently
Intent on a career in the fiduciary industry