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Nandipha is a qualified and registered dietician. She was employed by a private hospital group in Gqeberha, but resigned when the relocation took place.
Nandipha is a qualified and registered dietician. She was employed by a private hospital group in Gqeberha, but resigned when the relocation took place. Nandipha is currently practicing in her own name, as a sole proprietor. Nandipha's wish is for her practice to be sold to a former colleague should she pass away. The proceeds of this sale should then be used to provide for Thabo, Khwezi and her and Thabo's future children. THABO AND NANDIPHA'S ASSETS, POLICIES AND GROUP LIFE COVER THABO'S ASSETS ASSET VALUE PURCHASE PRICE COMMENTS R5 000 000 Primary residence (full value) R5 000 000 (full value) Motor vehicle R700 000 R800 000 Livestock R500 000 Registered in the names of both Thabo and Nandipha. Purchased January 2023. Outstanding Mortgage bond: R4 900 000. Settlement amount: R650 000 Thabo's father presented him with five cows for his 18th birthday. This small herd has increased to a current count of 100 cows. Collective investment R50 000 R45 000 scheme Pension fund (current R62 500 employer) No beneficiaries appointed. NANDIPHA'S ASSETS Asset Value R5 000 000 Primary residence (full value) Motor vehicle R500 000 Purchase price R5 000 000 (full value) Comments Registered in the names of both Thabo and Nandipha. Purchased January 2023. Outstanding Mortgage bond: R4 900 000. R700 000 Settlement amount: R650 000 Emergency fund R400 000 (Money Market) Flat in Gqeberha R500 000 R300 000 Business interest: Sole R250 000 R50 000 Nandipha purchased this flat in 2015 with the proceeds of a damages claim that was awarded to her. Nandipha invested R50 000 into her business in January 2023 proprietor POLICIES AND GROUP LIFE COVER Policy Owner Life insured Insured value 1 Life insurance Thabo Life insurance and 2 Thabo Thabo Thabo R4 000 000 R1 000 000 disability cover Life insurance and 3 Nandipha disability cover 4 Unapproved group Thabo Nandipha Thabo life cover R1 000 000 5 X annual pensionable salary for life cover Comments Beneficiary: Khwezi Beneficiary: Nandipha Disability cover is an accelerated benefit Beneficiary: Thabo Disability cover is an accelerated benefit No beneficiaries appointed ASSUMPTIONS SARS lists the standard value for a cow as R40 Thabo's marginal tax rate currently is 36% Nandipha's marginal tax rate currently is 45% The inflation rate is currently 7% per annum. . The return on any investments made is at a rate of 8% per annum. Costs in the estate: - Administration costs: R10 000 - Transfer costs* of primary residence: R15 000 EBFD411 - ASSIGNMENT 2024 - Transfer costs* of flat: R10,000 - Funeral costs and last expenses: R50 000 * Transfer costs include all bond, transfer, petties, FICA and other The executor is registered for VAT and charges prescribed fees. Round off all rand amounts to the nearest rand (no decimals) Round off percentages to four decimals. PAGE 4 OF 7 In the event where you are of the opinion that there is not enough information available, ensure that you indicate that you are making an assumption together with a valid reason for making such assumption.
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