You are on page 1of 4

Assignment 2 2004

ANSWERS.

QUESTION 1

1.1 The unwitnessed will must also be lodged with the master. He must
refuse to accept the unwitnessed will.

1.2 LETTER HEAD

The Master of the High Court,


Private Bag 13190,
WINDHOEK.

Estate Late J.de Wet.

We advise that we are attending to the administration of the estate


of the late J de Wet who died on 1 October 1996. In reporting the
estate we enclose the following:

1 Original wills dated 10 March 1990 and 14 August 1994.


2 Death notice
3 Section 9 inventory (preliminary inventory)
4 Acceptance of trust in duplicate
5 Certified copy of the death certificate (if the signatory of
the death notice was not present at death or did not identify
the deceased after death.)
6 Bond of security for the full value of the assets unless
exempted in the will.

Kindly issue the letters of executorship as soon as possible.

Yours faithfully,

Smith and Co.

1.3 Nominations by the reletives for the appointment of an executor. A


bond of security for the full value of the assets unless the nominee
is the parent, child or surviving spouse of the deceased. Next of kin
affidavit if heirs are persons other than the surviving spouse.

Question 2.

Notice to creditors
government Gazette 10.00*

Advertiser 90.00

Advertisement of account
Government Gazette 10.00*

advertiser 90.00

Provision for Bank charges 100.00

Master's Fees (maximum) 3000.00*


Executor's remuneration 49 000.00*
3 1/2% on 1 400 000.00

Sales Tax 10% on 49 000 4 900.00*

J. Smith Sworn Appraiser 450.00

Jones and Co Conveyancing costs 6 000.00

Def Brokers Commission on sale of


shares 2 000.00

GHI Inc Auditor's valuation of 1 500.00


shares in private co.

V Swart Valuation of movables 300.00

* Exact figures to be given.

Question 3.

3.1 In terms of section 8 of Act 66 of 1965 the will of any deceased


person Must be forwarded to the Master and to no one else.

3.2 As "X" has been nominated as executor in the will he is entitled to


his appointment irrespective of the heirs views, however as the
executor must act in co-operation with the heirs it may be advisable
for "X" to renounce the nomination.

3.3 The Master will appoint the nominee of the surviving spouse in terms
of section 19 of Act 66 of 1965.

Question 4.1
Affidavit by surviving spouse

ESTATE LATE……………estate no…….

AFFIDAVIT IN TERMS OF SECTION 38 OF Act 66 OF 1965

I, the undersigned, …………………..,widow, hereby make oath and say that I an the
surviving spouse of the late ………..to whom I had been married in of
community of property.
To the best of my knowledge and belief the Estate Assets and Liabilities
consist of the following:

ASSETS

1Erf ………………………. Gobabis N$150 000.00


2 Ford Sedan car N$ 20 000.00
3 Furniture N$ 37 000.00
4 Cash N$15 000.00

LIABILITIES
1 Funeral expenses N$ 4 000.00
2 Claims against the estate N$100 000.00
3 Administration expenses N$12 000.00

I hereby request your consent to the taking over of the following assets in
terms of section 38 of the Act;
1
2
3
The reason for the taking over is that these assets, which form part of the
residue, can not be transferred to the residuary heirs, two of whom are
still minors.
All liabilities will be paid in cash out of the estate.
The beneficiaries in terms of the Last Will and Testament of the deceased
I, the surviving spouse, my son ……….., and my daughter ………… .
The taking over will not be to the minor's disadvantage as their
inheritances will be paid into the Guardians Fund.
I will pay sufficient cash into the estate so that all the liabilities and
the cash portions of the heirs will be paid in full.
I have no intention of selling the assets in the near future.

……………………………….
Signed and sworn before me in Windhoek, this .............. .day ..........
Of .......... 19. ......

Commissioner of Oaths

Question 4.2

DISTRIBITION ACCOUNT

Balance for distribution 106 000

To Margaret Viljoen Surviving spouse


1/2 by virtue of the marriage 53 000

1/2 of funeral expences 2 000

1/3 in terms of the will 17 000


72 000

Consisting of
Fixed property 150 000
Movables 57 000
207 000
less cash contribution 135 000
72 000

To Jean Nell Married out of community


of property to Piet Nel, Marital
power excluded
OR

[To Jean Nel married in comunity of


property to Piet Nel]
1/3 in terms of the will 17 000
Consisting of cash

To Peter Viljoen minor born 1/1/80


(id no ........) 1/6 in terms of the 17 000
will

Consisting of cash
106 000 106 000

You might also like