LEGAL PRACTITIONER'S EXAMINATION.
TIME 90 MINUTES
PAPER 2 ESTATES.
In Namibia estates of deceased persons are administered in terms of different statutes.
In terms of which statutes are these estates administered?
Which officials supervise these estates?
Which estates are administered by each of these officials?
In terms of Act 66 of 1965,
Which estates need not be reported to the Master of the High Court?
Who must report an estate to the Master?
Which executors are obliged to furnish security to the Master before being appointd?
The Master has the discretion to insist on security in certain instances where the executor is exempted.
Name these instances?
When must an executor lodge a section 27 inventory?
What must be stated in an application for extension for lodgement of an estate account? (5)
What must be stated in the distribution account where the award is to:
A woman married in community of property?
A woman married out of community of property?
John Smith, who died on 13 July 2003, left a will dated 14 March 1999, which reads as follows:
"I appoint my wife Sophia as Executor.
As a legacy I bequeath to my illegitimate son Thomas Webber the sum of $5 000.00.
I bequeath the residue of my estate in equal shares to my three children."
The deceased left the following family:
his ex-wife Sophia Smith who he divorced on 10 June 2003
His daughter Mary Peters married out of community of property,
His daughter Sally Smythe married in community of property,
His grand son, William Smith, son of Gavin Smith who died simultaneously with the deceased.
Illegitimate son Thomas Webber born 14 October 1984
The assets of the estate consisted of;
Fixed property valued at
Movables valued at
Old Mutual shares
Cash in the bank