November 2003 ANSWERS

1.1 The estate of the deceased is responsible for the maintenance of all his minor children. If only the
claim of Charles is allowed then there will not be sufficient to maintain the other minors. Mary should
therefore also put in a claim on behalf of Mable and Benny. As there is insufficient to pay all
maintenance claims, they will all abate pro-rata.

1.2 (a) Simple arithmetic i.e. $X per month x Y months.

(b) Using tables to determine how much must be invested to provide for $X per month for Y months.
(c) Get an actuary to calculate amount of claim. He will not only take into consideration the minor’s
present needs but also provide for inflation and minor’s increased needs as he gets older.

2.1 1 balance for distribution

2 Full names of heirs and whether majors or minors
3 If minor date of birth and ID number
4 If a woman her marital status and if married icop, the name of her husband
5 Details of assets in award
6 Reason for award
7 If subject to a condition this is to be stated.

2.2 1 income collected after date of death up to date of account

2 Expenses paid from income
3 Voucher number
4 Balance for distribution
5 To whom awarded
6 If no income collected this is to be stated.

2.3 1 why account cannot be lodged within the prescribed period

2 What steps have been taken to expedite the submission of the account and what progress has
been made
3 What progress has been made in realizing assets
4 What moneys are on hand
5 Why a first account cannot be lodged
6 If written report has not been made in terms of section 34, whether the estate is solvent

3.1
LETTERHEAD
Date (not Later Than11 July 2003)
Master of the High Court
Windhoek

Re Estate Late Peter Thomas

I enclose herewith the following documents to report the above estate

A/ Death Notice
B (Proof of death)
C Original will dated 27th March 1998
D Inventory
E Acceptance of trust in duplicate

I await the letters of executorship in due cause.

(signed)……………………………
3.1 Advertisement costs to creditors
Government gazette 15
Namibian 135
Advertisement costs of account
Government gazette 15
Namibian 135 300
Masters fee 3000
Executors fee 45 500
VAT 6825 52325
Bank charges 120
…………….. (Sworn appraisement) ………
……………… (Transfer costs) ………
………………. (broker sale of shares) ………
(other liabilities) ………..
Balance for distribution 1 200 000
1 300 000
3.3

DISTRIBUTION ACCOUNT
Balance for distribution 1 200 000
To Betty Smith (born Jones) Married ICOP to John Smith
Special bequest in terms of will 800 000
Award consists of fixed property

To John Thomas Major

¼ residue in terms of will 100 000
Award consists of cash

To Mary Thomas Major unmarried

¼ residue in terms of will 100 000
Award consists of cash

To John Smith Minor born ………. Id no ……………….

¼ residue in terms of will 100 000
Award consists of cash

To Mary Smith Minor born ………. Id no ……………….

¼ residue in terms of will 100 000
Award consists of cash

840 000 840 000

3.4 INCOME ACCOUNT

Rental from Erf 747 10 000

Dividend on ………. Shares 20 000

Executors Commission 1 800

VAT 270 2 070
Windhoek Municipality Rates 2 000

Balance for distribution 25 930

30 000 30 000

To Betty Smith Rental 10 000

Less liabilities 2000
Less share costs 690 2690 7 310

To John Thomas 4 655

Mary Thomas 4.655
Peter Smith 4 655
Paul Smith 4 655
25 930