Nov-03

NOVEMBER 2003

LEGAL PRACTITIONER'S EXAMINATION. TIME 90 MINUTES Use your own facts where necessary.

QUESTION 1

MARKS 100 [15]

Tom Jones died intestate and left his wife Mary, married out of community of property, his minor children born from his present marriage Mabel (aged 8 years) and Benny (aged 6 years), as well as Charles (aged 14 years), a minor son born from his previous marriage with Peggy. Peggy Jones lodged a claim of $60 000 being maintenance for Charles. The balance for distribution, before providing for the maintenance claim amounted to $100 000 1.1 1.2

Advise Mary on her rights in respect of the maintenance claim. Give (3) three methods of calculating a minor’s claim for maintenance.

QUESTION 2

(9) (6) [30]

List the facts (NB. Not an example) that must be mentioned in the following matters: 2.1 The Distribution Account (Regulation 5(1)(e)) 2.2 The Income Account (Regulation 5(1)(f)) 2.3 Executor’s application for extension for the lodging of an Account (Regulation 6) QUESTION 3

(14) (8) (8) [55]

The will of Peter Thomas, dated 27th March 1998, nominates you as executor and bequeaths his estate as follows • A/ His Mercedes 220SE to my son Andrew • B/ His fixed property being Erf 707 Windhoek to his daughter Betty • B/ the residue of his estate to his Grandchildren in equal shares He died on 27th June 2003, leaving the following family: A/ his son Charles B/ His daughter Betty married in community of property. C/ ,John and Mary, children of predeceased son Andrew D/ Graham, adopted son of predeceased daughter Hanna. Graham was adopted on 25th July 1998. E/ Peter and Paul minor children of Betty He left the following assets A/ fixed property being Erf 707 Windhoek valued at $800 000 B/ Mercedes 220SE motor vehicle valued at $100 000 C/ shares valued at $200 000 D/ cash and cash investments of $200 000 E/ rental from fixed property for period after death $10 000 F/ Dividend on shares declared after death $20 000 The total liabilities and administration expenses amounted to $100 000 Municipal rates on fixed property after death $2 000 To facilitate the distribution, the residue of the estate was reduced to cash 3.1 3.2 3.3 3.4

Draft a letter to the Master enclosing all necessary documents to report the estate and obtain your appointment as executor. (10) Liabilities section of the account (10) Draw up the Distribution Account (20) Draw up the Income Account. (15)