Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
Standard view
Full view
of .
Save to My Library
Look up keyword
Like this
0 of .
Results for:
No results containing your search query
P. 1
august 2005 que

august 2005 que

Ratings: (0)|Views: 4 |Likes:
Published by André Le Roux

More info:

Published by: André Le Roux on Jun 16, 2009
Copyright:Attribution Non-commercial


Read on Scribd mobile: iPhone, iPad and Android.
download as DOC, PDF, TXT or read online from Scribd
See more
See less





AUGUST 20005
Use your own facts where necessary.
As Peter Parker was very ill in hospital, his wife Anne wrote out a joint will for themselves. In terms of this will,
the survivor was to inherit \u00bd of the estate and the balance to their children/step children Brian Daisy, Edna and

As peter was too weak to sign, he \u201csigned\u201d with a mark. Freddy Watson, who is a Commissioner of Oaths, added
the normal certificate to the will but as there was no space after the testator\u2019s signature, he wrote his certificate in
the margin. The will was witnessed by Stephan Jones and Sally Smith.

Peter left the following family
His wife Anne to whom he was married out of community of property,
His daughter Daisy married in community of property to Martin Jones
His daughter Edna married out of community of property to Freddy Watson
His stepson John son of his wife from a prior marriage
His minor grand son Harry child of predeceased child Brian
His adopted minor grand son Ian adopted son of Brian

Draw up the Distribution account of Peter\u2019s estate if the balance for distribution amounted to $1 200
In terms of the will of Peter Smith, he bequeathed his fixed property to his son Robert and the balance \u00bd to his
wife Susan ,1/3 to his daughter Tanja and the balance to his son Robert.
The following income and expenditure after death is included in the estate
Rental collected from the fixed property
$12 000
Dividends on shares
$5 500
Interest on fixed deposit
$7 800
Interest on savings account
Rates and Taxes on the Fixed property
$2 500
Interest on bank overdraft after death
$1 500
Prepare the Income Account taking into account the requirements of Regulation 5.
Peter Smith died intestate.. He was survived by his wife Anne, to whom he was married in community of

property, his daughter, Mary Adams, Joan daughter of predeceased son Peter and John, Minor son of Peter
The assets of his estate consist of the following:
Farm valued at

$ 450 000.00
Movable assets: Motor vehicles
80 000.00
40 000.00
Investments and bank accounts
262 000.00
The liabilities amounted to
100 000.00
Draw up a redistibution agreement Each heir must receive the same monetary amount that they would
have received if it were possible to distribute the assets in speci.

You're Reading a Free Preview

/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->