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nov-03, ans

nov-03, ans

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Published by André Le Roux

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Published by: André Le Roux on Jun 16, 2009
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02/01/2013

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November 2003 ANSWERS
1.1

The estate of the deceased is responsible for the maintenance of all his minor children. If only the
claim of Charles is allowed then there will not be sufficient to maintain the other minors. Mary should
therefore also put in a claim on behalf of Mable and Benny. As there is insufficient to pay all
maintenance claims, they will all abate pro-rata.

1.2

(a) Simple arithmetic i.e. $X per month x Y months.
(b) Using tables to determine how much must be invested to provide for $X per month for Y months.
(c) Get an actuary to calculate amount of claim. He will not only take into consideration the minor\u2019s

present needs but also provide for inflation and minor\u2019s increased needs as he gets older.
2.1
1
balance for distribution
2
Full names of heirs and whether majors or minors
3
If minor date of birth and ID number
4
If a woman
her marital status and if married icop, the name of her husband
5
Details of assets in award
6
Reason for award
7
If subject to a condition this is to be stated.
2.2
1
income collected after date of death up to date of account
2
Expenses paid from income
3
Voucher number
4
Balance for distribution
5
To whom awarded
6
If no income collected this is to be stated.
2.3
1
why account cannot be lodged within the prescribed period
2
What steps have been taken to expedite the submission of the account and what progress has
been made
3
What progress has been made in realizing assets
4
What moneys are on hand
5
Why a first account cannot be lodged
6
If written report has not been made in terms of section 34, whether the estate is solvent
3.1
LETTERHEAD

Date (not Later Than11 July 2003)
Master of the High Court
Windhoek

Re Estate Late Peter Thomas
I enclose herewith the following documents to report the above estate
A/

Death Notice
B
(Proof of death)
C
Original will dated 27th March 1998
D
Inventory
E

Acceptance of trust in duplicate
I await the letters of executorship in due cause.
(signed)\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026

3.1
Advertisement costs to creditors
Government gazette
15
Namibian
135
Advertisement costs of account
Government gazette
15
Namibian
135
300
Masters fee
3000
Executors fee
45 500
VAT
6825
52325
Bank charges
120
\u2026\u2026\u2026\u2026\u2026.. (Sworn appraisement)
\u2026\u2026\u2026
\u2026\u2026\u2026\u2026\u2026\u2026 (Transfer costs)
\u2026\u2026\u2026
\u2026\u2026\u2026\u2026\u2026\u2026. (broker sale of shares)
\u2026\u2026\u2026
(other liabilities)
\u2026\u2026\u2026..
Balance for distribution
1 200 000
1 300 000
3.3
DISTRIBUTION ACCOUNT
Balance for distribution
1 200 000
To Betty Smith (born Jones) Married ICOP to John Smith
Special bequest in terms of will
800 000
Award consists of fixed property
To John Thomas Major
\u00bc residue in terms of will
100 000
Award consists of cash
To Mary Thomas Major unmarried
\u00bc residue in terms of will
100 000
Award consists of cash
To John Smith Minor born \u2026\u2026\u2026. Id no\u2026\u2026\u2026\u2026\u2026\u2026.
\u00bc residue in terms of will
100 000
Award consists of cash
To Mary Smith Minor born \u2026\u2026\u2026. Id no\u2026\u2026\u2026\u2026\u2026\u2026.
\u00bc residue in terms of will
100 000
Award consists of cash
840 000
840 000
3.4
INCOME ACCOUNT
Rental from Erf 747
10 000
Dividend on \u2026\u2026\u2026. Shares
20 000
Executors Commission
1 800
VAT
270
2 070
Windhoek Municipality Rates
2 000
Balance for distribution
25 930
30 000 30 000
To Betty Smith Rental
10 000
Less liabilities
2000
Less share costs 690
2690
7 310
To John Thomas
4 655
Mary Thomas
4.655
Peter Smith
4 655
Paul Smith
4 655

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