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LEGAL PRACTITIONER'S QUALIFYING EXAMINATION

MARCH 1998 MARKS 100 TIME 3 HOURS


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QUESTION 1 [58]
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John Brown has died and you have been appointed as executor in his estate.
At the time of death, he and his wife Anne, were married out of community
of property and although estranged from each other, no divorce proceedings
had been instituted.

John leaves two children, Susan a married daughter and a minor son Peter.

In terms of the will the furniture is bequeathed to Susan while the residue
is bequeathed to the two children in equal shares.

The assets consists of:

a/ Immovable property $500 000


b/ Motor vehicles sold for 105 000
c/ Furniture valued at 63 000
d/ Fixed deposit at XYZ bank 400 000
e/ Current account with XYZ bank 21 350
f/ Shares quoted on the stock exchange
Namsea Ltd sold for 350 000
Nictus Ltd sold for 147 750
g/ Shares in ABC (pty) ltd 775 000
h/ Loan account in ABC (Pty) Ltd 376 950

The liabilities which include, the normal


administration costs, funeral expenses, last
illness expenses and a bond over the fixed
property amounts to 325 480

1.1 Draw a complete Liquidation and Distribution Account for submission


to the Master of the High Court. Use your own particulars where
necessary. You must also provide for normal administration expenses,
Master's fees and Executor's remuneration.

Note: Where full description of Assets are not given, you must make
provision therefore. All other items which, as a rule, normally
appear in a Liquidation and Distribution Account must be included.
(48)

1.2 State fully which documents must accompany the account.


(10)
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Question 2 [12]
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2.1 Name the instances in which an executor dative can be appointed by


the Master of the High Court. (6)
2.2 State whether the following statements are true or false.

a/ An executor is prohibited in general to make interim advances


to heirs and legatees.

b/ One of the conditions for a take-over in terms of Section 38 is


that the assets in question must not be subject to a
Fideicommission.

c/ When cash deficit arises, the executor may realize the assets
forthwith.

d/ A women married in community of property is not capable of


acting as Executor.

e/ The typist who types the last will of the testator can be
appointed as executor in the will.

f/ Cash Investments, such as cheque deposits, savings accounts,


fixed deposits and Building Society Shares, cannot be called up
by the executor without the consent of the Beneficiaries.

g/ If the Executor is requested to complete and submit the income


tax return of the deceased, he is entitled to an additional
remuneration for professional services rendered.

h/ An Executor, who is also a conveyancer, may charge the estate


for transfer costs.

i/ A person who married a witness to a will, after same was


executed, may not inherit under thereunder.

j/ A foreign executor who must only deal with movable propertyis


in terms of section 25 not required to furnish security.

k/ An executor appointed by the Master can in terms of his


appointment deal with assets situated outside Namibia.

l/ If there is insufficient space on the last page of a will


signed with a mark and the certifying officer's certificate
appears on the next page, the certifying officer need not sign
the page on which the will ends.

m/ The spouse of the writer of a will is disqualified from


inheriting under that will.
(6)
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QUESTION 3 [30]
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3.1 You as executor appointed on 16th August 1997, are unable to lodge
the liquidation account within the prescribed period. Draft the
application for extension.
(8)

3.2 What must be lodged with the Master by the executor if a substantial
asset comes to light after the First and Final Liquidation and
Distribution Account has been lodged and approved. (2)
3.3.1 How does an executor deal with a continuous claim against the
estate such as a claim for maintenance by a minor child from a
previous marriage?.

3.3.2 What documents must be lodged with the Master in support


thereof.

3.3.3 The mother of the minor wishes to give security for this claim.
Discuss.
(12)

3.4 A man dies in testate leaving a spouse, married in community of


property, a major son A and two grandchildren B and C, children of a
predeceased daughter, X. C was adopted by X.

3.4.1 Divide the estate amounting to $120 000.

3.4.2 How would the estate be divided if the deceased was married out
of community of property?

3.4.3 Will your answer in 3.4.2 be different if the adopted


grandchild was the child of another predeceased daughter? If so
how?
(8)
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