Question
The estate of our deceased father was finalized only three years after his death. The value of the vehicle has considerably depreciated. In calculating the shares what value is to be taken - the value three years ago or today‟s depreciated value?
Answer
In cases of depreciation, the higher value - the value at the time of death - should be taken. The executor who has delayed the winding up of the estate should pay the difference. The loss is due to his negligence. The estate was supposed to have been finalized the very next day after death or as soon as possible if the estate is a large one. Regarding the other assets which appreciate in value, the current value is incumbent.
- Source
- themajlis.co.za
- Published in
- The Majlis Vol 27 No 07
- PDF page
- 8
Verbatim verified against the source PDF
Appears under THE FOOD OF HARAAM EARNINGS. This heading is the nearest headline at or before the page and is approximate. Do not cite it alone.