Mar 06

MARCH 2006

LEGAL PRACTITIONER’S EXAMINATION TIME 90 MINUTES

Question 1.

MARKS 100 60

John Smith died intestate and left the following assets: Farm valued at $1 800 000, Movables of $250 000 Shares and other investments of 400 000 Cash of $180 000 Liabilities including administration costs amounted to $130 000 He left the following family: Wife June married in of community of property, Brother Peter, Minor nephew Paul, son of predeceased sister Ester. Minor adopted niece, Sylvia, daughter of predeceased sister Ester. Half sister Ruth married in community of property Using the above and your own facts where necessary 1a/

Draw up a redistribution agreement entered into by the parties. Each heir must receive the same value that they would have received if the assets could have been distributed in speci. [20]

1b/Draw up the liabilities section and the distribution account of the deceased.

[37]

1c/

[3]

How will the share of the minor(s) be dealt with?

QUESTION 2

20

Kurt Schmidt who was resident in Germany, left assets including fixed property in Namibia. His brother, Jürgen, who resides in Germany, was appointed in a handwritten will to administer his estate. 2a/

List the documents and/or requirements that must be lodged with the Master to have Jürgen appointed as executor of the Namibian estate. [12]

2b/

Under what circumstances can the provisions of Section 25 of the Estates Act be invoked [3] Name 5(five) “States” whose appointments of executors can be “signed and sealed” by the Master. [5]

2c/

QUESTION 3 3a

20

Your client and her late husband’s will created a massing Advise her as to rights and responsibilities if she;i/ accepts the conditions of the will, ii/ repudiates the will.

[4]

3b/

Under what circumstances can an adiation or repudiation be withdrawn?

[4]

3b/

Draw up an adiation certificate using your own facts.

[12]