March 2006 Answers

MARCH 2006 ANSWERS Question 1a/ 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……………..

1 800 000

Peter ….. will receive …………………………………………. .……………. 260 000 Ruth will receive ……………………………………….. …………….. Paul ………….. will receive …………………………

100 000

250 000

Signed at Windhoek this ………….. day of ………….. 2006 ……………………. …………………… …………………… …………………. On behalf of Paul ……. Question 1b/ Liquidation account Liabilities. Advertisemebts To creditors GG Newspaper Account GG Newspaper Bank charges Masters Fee Executors commission VAT ……… Sworn appraisement ………. Share valuation ………..Transfer costs ……………. Other Balance for distribution

20.00 …….. 20.00 ……..

…………………… ………………….. 3000.00

92 050 13 807.50

105 807.50 ………….. ………….. …………… .…………. 2 400 000 2 630 000

Distribution account. Balance for distribution To June Smith (born Jones) Surviving Spouse ½ by virtue of marriage 1 200 000 ¼ in terms of intestate 600 000

2 400 000 1 800 000

Award consists of ……………… ……………….. To Peter Smith Major I.T.O. intestate Award consists of ………………. To Paul ……. Minor Born ………… ID No …………………….. I.T.O. intestate Award consists of cash Ruth …….. married I.C.O.P to ………. I.T.O. Intestate Award consists of ………………….

250 000

250 000

100 000 2 400 000

2 400 000

Question 1c/ 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 2a/ D/n D/C Authenticated copy of will Sworn translation of will Evidence that will is valid according to German Law Inventory of Namibian Assets Acceptance of trust in duplicate Domicilium address in Namibia Security for assets. Power of Attorney ifo local agent Question 2b If the deceased was not resident in Namibia and owned no immovable property in Namibia and no person in Namibia will be prejudiced. Question 2c Question 3 3a

If she adiates, her assets will also be awarded in terms of the will and she will receive whatever benefit awarded to her If she repudiates, she will keep her assets but will receive no benefit under the will

3b

An adiation/repudiation can only be revoked wit the consent of the court if she can prove that she was not aware of her obligations when she signed the document.

3c ADIATION/REPUDIATION ESTATE LATE ................................................ No................ I the undersigned .................................. confirm that it has been explained to me that:

the will dated ....................... which was signed by the deceased and myself, created a massing of our separate estates into a consolidated whole which has been bequeathed to the heirs, subject to the provisions of the said will. I have the right to adiate or repudiate as explained hereunder should I repudiate and thereby choose not to be bound by the provisions of the said will, I will retain full ownership of my separate estate and that I will receive no benefit under the said will my decision to adiate or repudiate is irrevocable. After careful consideration of my rights as mentioned above, which I fully understand, I hereby choose to adiate/repudiate. Signed at ....................... this .............. day of ............... 19.... Signature ....................... I ......................... certify that the implications of massing, adiation and repudiation were explained to ........................... and I am satisfied that he/she understood the meaning and effect of the above adiation/repudiation. ........................... Capacity .........................