Mar 07

LEGAL PRACTITIONER'S QUALIFICATION EXAMINATION. NOVEMBER 2007 TIME 1 HOUR 30 MINUTES 100 MARKS March 2007 Use your own facts where necessary QUESTION 1 [16] The firm of Smith and co of which you are a partner, holds the will of Jan de Wet dated 10 March 2003. On his death his family brings a later will of the deceased dated 14 August 2005. This will has been signed by only one witness. In terms of the earlier will you have been appointed as Executor whereas the later will nominates the surviving spouse as executor and appoints different heirs. 1.1 1.2 1.3

What advice will you give the surviving spouse in respect of the wills and why? (3) Address a letter to the Master of the High Court to report the estate, stating in detail the documents enclosed. (10) What other documents should be submitted if the deceased died intestate. (3)

QUESTION 2 [18] The deceased leaves assets to the value of N$1 400 000.00 comprising inter alia the following: a/ b/ c/ d/

Dwelling house awarded to the heirs at sworn appraised value. Shares listed on the stock exchange which are sold. Shares in a private company awarded to the heirs. A motor car, furniture and paintings awarded to the heirs.

The administration expenses and liabilities amount to N$150 000.00. Draw up the Liabilities section of the account. QUESTION 3 [14] You hold Joe's will in which "X" has been nominated as executor. The heirs in terms of the will are Joe's four children, subject to the survivor's usufruct. On Joe's death the family approach another firm of attorneys to administer the estate. For personal reasons the family do not wish "X" to be appointed as executor, but can not agree as to who should in fact be appointed. Joe's wife would prefer "A" to be appointed whereas the children all want "B" as executor. 3.1 3.2 3.3

You are asked to forward the original will to the firm of attorneys who are now representing the family. How will you reply to this request? (5) How would you advise "X" in respect of his appointment as executor? (5) If "X" renounces his nomination as executor, who will the Master appoint as executor and why? (4) PTO

QUESTION 4 [52] The deceased died intestate and is survived by his wife to whom he is married in community of property, a daughter married In community of property and a minor son. The assets of the joint estate comprise the following: Dwelling House Motor car Furniture Cash The liabilities are the following: Administration expenses Mortgage bond over the fixed property Funeral expenses

N$150 000 20 000 40 000 14 000 224 000 N$12 000 100 000 4 000 116 000

The surviving spouse is advised to take over the joint estate in terms of section 38 of Act 66 of 1965. 4.1

Draw up the application by the surviving spouse for the section 38 Taking over. (17)

4.2 Draw the Distribution Account giving effect to the above. This Distribution Account MUST comply with the regulations to the Act. (22) 4.3

How will the distribution be if the deceased was a member of the Rehoboth Baster Community. Just give the heir’s name the reason for the award and the amount to which he/she is entitled. (13)