ASSIGNMENT 2006 ANSWERS

Question 1

Question 2.1
REDISTRIBUTION AGREEMENT

We the undersigned:
June …….. Surviving spouse
Peter ………
Simon ………….
Paul ……………… Assisted by…………. As natural guardian

Intestate heirs of the late ………………….. hereby agree to redistribute the estate as follows:

June will receive ………………………………. ……………

. Less cash contribution…………….. 675 000

Peter ….. will receive ………………………………………….

. ……………. 112 5000

Ruth will receive ………………………………………..

…………….. 56250

Simon ………….. will receive ………………………… 56 250

Signed at Windhoek this ………….. day of ………….. 2006

…………………….
……………………
……………………
…………………. On behalf of Paul …….

Question 2.2/

Liquidation account
Liabilities.

Advertisemebts
To creditors GG 20.00
Newspaper ……..
Account GG 20.00
Newspaper …….. ……………………

Bank charges …………………..

Masters Fee 2 880.00
Executors commission 33 600
VAT 5 040 38 640
……… Sworn appraisement …………..
……..Transfer costs ……………
……………. Other .………….
Balance for distribution 900 000
960 000
 Distribution account.

Balance for distribution 900 000

To June Smith (born Jones) Surviving Spouse
½ by virtue of marriage 450 000
¼ in terms of intestate 225 000 1 675 000

Award consists of ………………

………………..

To Peter Smith Major

I.T.O. intestate 112 500
Award consists of ……………….

To Paul ……. Minor Born …………

ID No ……………………..
I.T.O. intestate 56 250
Award consists of cash

Ruth …….. married I.C.O.P to ……….

I.T.O. Intestate 56 250
Award consists of ………………….
900 000 900 000
Question 2.3/

Minors portion will be paid into the Guardians Fund, Alternatively it can be paid to the natural
guardian provided that she gives security for this amount.

Question 3
DISTRIBUTION ACCOUNT
Balance for distribution 180 000

To Sara Van Wyk Born ….. Surviving spouse

!/2 ITO intestate 90 000
1/3 of ½ intestate 30 000 120 000
Award consists of cash

To Jacob van Wyk Major

……………………….
2/3 of ½ intestate Subject to usufruct of S/S 60 000
Award consists of cash

180 000 180 000

Question 4.1
Appointing an executor in the normal way
Resigning and sealing, in terms of section 21, the appointment issued in a “state” as determined by
section 20

Question 4.2
If the deceased was not resident in Namibia and owned no immovable property in Namibia and no
person in Namibia will be prejudiced.