The AIIF through Aon offers bonds at no cost to Attorney Executors for amounts of R5 million per bond, subject to an aggregate of R20 million (previously R10 million) per firm in each year.
EXECUTORS PLEASE NOTE!
The AIIF provides executor bonds, at no cost, to practising attorneys in their capacity as executors. They are obliged to keep Aon (the agents) updated with regard to all developments relevant to such bonds and to reply to all faxes, letters and telephone messages from the agents.
The Board of Directors of the AIIF has resolved that executors who fail to comply with these requirements may be refused further bonds in the future.
Amendment to Administration of Estates Act 66 of 1965.
Please note that in terms of Govt. Gazette no. 25456 (attached hereto in pdf format), the Minister has amended the amounts specified for purposes of S 18(3), 80 and 90 in terms the Administration of Estates Act 66 of 1965.
- Requirements for an Application for court bond(Important - Please read this first)
- Application for court bond Download PDF (106.9kb)
- Undertaking and bond of security - contact Julia Cebekulu or Haniffah Mbela