Technology company e4 has launched an online platform for managing deceased estates called Legatum (Legacy). The system is designed to tackle delays and inefficiencies in estate processing.
Legatum aims to transform the way legal and financial professionals manage estate administration. It uses e4’s existing automation, secure digital workflows and integrated compliance tools.
Managing deceased estates in South Africa is often a lengthy and challenging task. It involves attorneys, banks, insurers, SARS and the Master of the High Court. Outdated manual processes and systems can lead to delays and administrative bottlenecks.
With an estimated 102,300 estates requiring structured management annually, inefficiencies in the current system can result in even longer wait times with serious financial implications for executors, legal professionals, and importantly, beneficiaries.
“The Master’s Office is overwhelmed with backlogs where digital adoption has been slow,” says Andrea Carr, e4 head of research and development. “In addition, executors and legal professionals often still navigate complex, paper-based manual systems that are prone to errors, leading to unavoidable delays.
“Legatum takes a digital-first approach to streamline more processes faster, accurately and securely without compromising on the flexibility needed to manage complex estate matters.”
Legatum integrates several digital capabilities that aim to simplify and automate steps in the deceased estate administration process. These include a KYC-compliant validation of the deceased and heirs/beneficiaries, integrated advertising of estates and automated document generation for submission to the Master’s Office. The platform offers secure communication tools to help reduce manual inputs and minimise the need to switch between systems.
“Losing someone is hard enough, wrapping up the estate shouldn’t add to the burden,” says Carr. “By applying our capability stack to an estate management platform, attorneys and executors are able to gently guide families through the legal and administrative process of honouring their loved ones legacies with less stress and fewer delays.
“The system utilises e4 subsidiary SearchWorks’ 360 search types to validate and verify details of individuals, properties and trusts related to an estate matter.
Through pre-populated data fields, the system minimises errors and enables attorneys and estate practitioners to quickly verify assets, liabilities, and beneficiaries without having to manually source this information or using various software systems to complete the administration process.
A built-in notification and alert system helps professionals track critical deadlines, while automated Liquidation and Distribution (L&D) account generation reduces processing time. Secure, centralised document storage also ensures all records are readily accessible throughout the estate management process.
Grant Phillips, group CEO of e4, says: “Our aim was to develop a flexible system that enhances efficiency without imposing rigid workflows as no two estates are the same. Legatum is designed to adapt to the complexities of each case, whether it takes six months or several years to resolve.
“Legatum provides the attorney with a centralised platform automating aspects such as – but not limited to – advertising of full estates and the KYC verification feature, which immediately ensures that the firm is FIC compliant.”
Future enhancements
The launch of Legatum is the first phase of a larger innovation roadmap aimed at transforming estate management in SA. Upcoming enhancements will include direct integration with SARS for estate tax submissions, allowing executors to file electronically instead of relying on manual submission processes.
Phillips says: “As digital transformation gains momentum in the legal sector, Legatum is designed to evolve in step with regulatory changes and market needs. Our vision is to create a truly connected ecosystem, reducing estate settlement times and offering a seamless, technology-driven approach to what has traditionally been a highly complex process.”
A meaningful step toward digital transformation
Legatum aims to bridge the gap between outdated estate administration processes and the modern digital era. The platform promises to be data-driven, secure, and adaptable. It is designed to help legal and financial professionals manage estates more efficiently and accurately.
As the platform expands, e4 plans to work with industry stakeholders to align Legatum with the evolving needs of estate practitioners, financial institutions, and regulators.