OCTOBER 2006 ANSWERS

REDISTRIBUTION AGREEMENT. [15]

/ /
/ $5.00 stamp/
/____________/
We the undersigned,

1/ ......................
2/ ......................
3/ ......................
4/ ................ assisted by ........... as natural guardian,
hereby agree to redistribute the estate of the late ............. as follows:
............... will receive the movables valued at $100 000 as part of her inheritance,
................ , . will receive …………
................., will receive ………….
.………...... will receive …………

Signed .. ...............
.................
.................
............... Natural guardian of ...........

witnesses ..............
..............
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1.2

LIABILITIES [15]

1 Advertisement creditors
New era …….
Gazette 20.00
2 Advertisement of account
new Era …….
Gazette 20.00 ………
3 Bank charges ……….
4 D Mathews appraisement 4 500.00
5 ........ Transfer costs 5 2 000.00
6 Masters fee 3 000.00
7 Executors fee 49 000.00
8 VAT on executors fee 7 350.00
9 Avbob funeral expenses 6 8 000.00
9 ………mortage bond 8 ..........
10 ………bond premium 9 2 150.00
Balance for distribution 1 200 000.00
1 400 000.00
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Distribution account [20]

Balance for distribution 1 200 000.00

To .............. surviving spouse

Special bequest i.t.o.will 800 000.00
1/4 residue 100 000.00
Award consists of f/p 800 000.00
movables 100 000.00
900 000.00
To ...... married i c o p to ......
1/4 i.t.o. the will 100 000.00
Award consists of cash

to ...... married o c o p
1/4 i.t.o. will 100 000.00
Award consists of cash

To ...... minor born .....

id no .......
1/4 i.t.o.will 100 000.00
Award consists of cash
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1 200 000.00 1 200 000.00
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INCOME ACCOUNT [15]

………..Rentals received 8 5 000 00

………. Interest on fixed deposit 9 20 000.00

Interest on bond 10 1 000.00

Executors commission 1 500.00
VAT 225.00

Balance for distribution awarded to

............. surviving spouse
rentals less costs 3 655.00
¼ balance 4 655.00
to …………..
¼ balance 4 655.00
to …………..
¼ balance 4 655.00
to …………..
¼ balance 4 655.00 22 375.00

25 000.00 25 000.00
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Question 2 14
LETTER HEAD
Date prior to 10th September
The Master of the High Court
WINDHOEK

Re Estate Late Tomas Brown Estate no 123/06

The liquidation account in the above estate is due on 10th September but for the following reasons I am unable to
lodge same and request an extension of 2 months.

A/ reasons
B/ steps taken to expedite submission and what progress made
C/ progress on liquidation of estate
D/ moneys on hand and why intrim account cannot be lodged
E/ if no report ito 34 is estate solvent.

……………………..
signature
QUESTION 3
3A [13]
Distribution Account

Balance for distribution 120 000.00

To Sara van Wyk surviving spouse
½ by virtue of marriage ICOP 60 000
½ of balance ito sec 1(c) 30 000
+ 1/3 10 000 100 000

to Peter Van Wyk

2/3 ito sec 1(c) 20 000
subject to the usufruct of the S/S

3B ITO sec1(e) The matter shall be placed before the Magistrate and Advisory council who may [8]
give such directions in regard to the disposal of the assets as may seem to them proper.
Problems No guidelines laid down
Advisory Council no ;longer exists.
Is the Master now substituted in matters under the direction of the Master?