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QUESTION 1 (20) Paul Mkhize died intestate and is survived by his wife Zanele to whom he was married in community of property and who is 8 months pregnant with their child. He was also survived by the following people: a. His parents, Eric and Judy, b. His son, Andy who murdered him, c. His son, Daniel, from a previous marriage, d. Andy's son Ben, e. His wife's daughter, Letta Ntuli, from a previous marriage, f. His major daughter Caroline, who has renounced any inheritance from Paul's estate, g. Caroline's son Denis, h. His major adopted daughter Rose, and i. Rose's son George. The joint distributable estate amount to R2 976 000 consisting of cash only. Advise the Mkhize family as to who are Paul's heirs and what each will inherit. Give reasons where necessary. QUESTION 2 (10) 2.1 You act for a client who has a liquidated claim against a deceased estate. You establish that the period for filing the creditors claim against the estate has passed. What advice will you give your client? (3) 2.2 After receiving the claim the Executor doubts whether this claim can be allowed. Which steps should the Executor take in order to resolve this matter? (5) How would you advise your client if the executor rejects the claim? (2) 2.3 QUESTION 3 (5) B, a widow, dies in 2016 leaving an estate with a net value of R9 000 000. She leaves her estate to her 2 children in equal share. B's husband A died in 2014 leaving an estate of R6 000 000 which he left to B in his will. Calculate the estate duty (if any) payable in B's estate. QUESTION 4 (65) Anthony Naidoo and Vanessa were married to each other out of community of property with accrual. Anthony died intestate on 9 August 2019 and was survived by his wife and his brother Thillay. His wife was appointed as the Executrix and she is not registered for VAT. Anthony's estate comprises of the following: 1. A farm on which he was residing with his wife and on which there was no farming undertaking taking place, valued at R1 500 000.00. 2. Furniture purchased by the deceased valued at R213 000.00. 2 Aamm Darabellum pistol valued at DA 050 00 QUESTION 4 (65) Anthony Naidoo and Vanessa were married to each other out of community of property with accrual. Anthony died intestate on 9 August 2019 and was survived by his wife and his brother Thillay. His wife was appointed as the Executrix and she is not registered for VAT. Anthony's estate comprises of the following: 1. A farm on which he was residing with his wife and on which there was no farming undertaking taking place, valued at R1 500 000.00. 2. Furniture purchased by the deceased valued at R213 000.00. 3. A 9mm Parabellum pistol valued at R4 050.00. 4. Proceeds of Old Mutual Life Insurance policy on the deceased's life in the amount of R780 000.00. The policy was taken out by the deceased's brother, Thillay. The premiums were paid by the brother and the premiums plus 6% interest amounted to R80 000 at deceased's death. The proceeds were paid to Thillay 5. Bank overdraft with Absa Bank in the amount of R200 000.00 was covered by an insurance policy issued by Liberty Life company which was ceded to the bank as security. This policy had life cover on the life of Anthony for R200 000.00 6. Ornaments and Jewellery sold for R165 000.00. 7. A Toyota Run X in the deceased's name sold for R120 000.00. 8. 700 shares in A.R.L. (Pty) Ltd in the deceased's name valued by the Auditors as at the date of death at R210.00 per share (as approved by a Chief Revenue Inspector) and were sold in the course of liquidation for R142 000.00 9. The deceased had an investment of R800 000.00 with VB-Bank. The executrix realises this investment for R816 000.00 of which R9 950.00 is in respect of interest accrued at date of death. 10. The deceased's 900 shares in EBS Ltd, a company listed on the JSE, which are valued by a stockbroker as at date of death at R146 000.00. A dividend of R15.50 per share is declared and paid on 1 September 2018 and has been collected by the executrix. 11. The surviving spouse has an accrual claim against the deceased estate in the amount of R105 000.00 12. The Funeral Expenses amount to R18 400.00. 13. All liabilities, claims and costs of administration total the amount of R500 000.00 Draft the entire Liquidation and Distribution Account in the estate of the Late Anthony Naidoo to be submitted to the Master of the High Court. Specify the necessary expenses. Use imaginary information where necessary