FIRST AND FINAL LIQUIDATION AND DISTRIBUTION ACCOUNT IN THE ESTATE OF THE LATE ANNE EXAMPLE

Transcription

1 Page 1 FIRST AND FINAL LIQUIDATION AND DISTRIBUTION ACCOUNT IN THE ESTATE OF THE LATE ANNE EXAMPLE (IDENTITY NO. XXX) AND PAUL EXAMPLE (IDENTITY NO. XXX) TO WHOM THE DECEASED WAS MARRIED IN COMMUNITY OF PROPERTY OF XXX, CAPE TOWN WHO DIED ON 13 JANUARY 2016 LIQUIDATION ACCOUNT ESTATE NUMBER: /2015 ASSETS IMMOVABLE PROPERTY - AWARDED AS PER DISTRIBUTION ACCOUNT ERF XX, SALT RIVER, CAPE TOWN (XXX, SALT RIVER), MEASURING 670 SQUARE METRES IN EXTENT 1 2,100, ,100, Held by T1111/XX XXX, CAPE TOWN CLAIMS IN FAVOUR OF THE ESTATE - AWARDED AS PER DISTRIBUTION ACCOUNT ABSA BANK BALANCED INVESTMENT NO: , STANDARD BANK SAVINGS ACC: , , CLAIMS IN FAVOUR OF THE ESTATE - COLLECTED ABSA BANK CURRENT ACC: , , TOTAL ASSETS R 2,462, LIABILITIES ADMINISTRATION COSTS Advertisement costs for creditors: Government Gazette Cape Times Advertisement costs for Liquidation and Distribution account: Cape Times

2 Page 2 Master's fees as per tariff Executor's 3.50% on R2,462, , % on Executor's remuneration 12, CONVEYANCER - CONVEYANCING FEES 8 19, , TOTAL LIABILITIES 120, ESTATE DUTY 0.00 BALANCE FOR DISTRIBUTION 2,341, R 2,462, RECAPITULATION STATEMENT Total cash and assets collected as cash (assets 4) 50, Total administration expenses and claims 120, Cash shortfall to be paid by PAUL EXAMPLE 70, , , DISTRIBUTION ACCOUNT Balance brought forward from Liquidation Account 2,341, SPECIAL BEQUESTS To PAUL EXAMPLE (surviving spouse), Widower 1,150, ERF XX, SALT RIVER CLAUSE 5 OF THE LAST WILL AND TESTAMENT (Item No. 1) 1,050, ABSA BANK - BALANCED INVESTMENT NO: 0099 (Item No. 2) 100, THE RESIDUE To PAUL EXAMPLE (surviving spouse) A 1/2 share of the estate by virtue of the marriage in community of property to the deceased 1,170, The residue of the estate in terms of the undermentioned Will 20,941.94

3 Page 3 In compliance with Regulation 5(1)(e)(iii) note that the above residue awards consists of exactly the same assets listed below and is inherited in the fraction indicated next to the heir's name above: STANDARD BANK - SAVINGS ACC: 9999 (Item No. 3) 112, Cash shortfall -70, Surviving spouse's balance of special bequest(s) listed above in terms of marriage in community of property to the deceased 1,150, ,191, The above-mentioned awards are made in terms of the Last Will and Testament of the Deceased dated 16 November 2015 and subject to any conditions contained therein. 2,341, ,341, INCOME AND EXPENDITURE ACCOUNT FOR THE PERIOD 13 JANUARY 2016 TO 29 FEBRUARY 2016 FOR THE PERIOD 1 MARCH 2016 TO 14 MARCH 2016 FIDUCIARY ASSETS ACCOUNT ESTATE DUTY PLEASE NOTE: The calculations and the account number references below are quoted as per the prescribed Estate Duty Return Form (Rev.267). ACCOUNT 1 Total Assets as per FIRST AND FINAL Liquidation Account 2,462, LESS: Surviving Spouse's 1/2 share in terms of the marriage in community of property 1,231, ,231, TOTAL OF ACCOUNT 1 R 1,231, ACCOUNT 2

4 Page 4 TOTAL OF ACCOUNT 2 R 0.00 ACCOUNT 3 Total Liabilities as per Liquidation Account 120, LESS: Surviving spouse's 1/2 share in terms of the marriage in community of property 60, , , PLUS: Cash legacy(ies)/special bequest(s) accruing to the surviving spouse (Section 4(q)) 1,150, A fraction of the residue/the residue is inherited by the surviving spouse and requires detailed calculations: Total of Account 1 of the Estate Duty Return 1,231, PLUS: Total of Account 2 of the Estate Duty Return 0.00 LESS: Liabilities as calculated above 60, GROSS DUTIABLE ESTATE: 1,170, LESS: Special bequests and cash legacies to all beneficiaries 1,150, % of residue (which excludes special bequests and cash legacies) to surviving spouse 20, PLUS: Value of other assets/rights accruing to surviving spouse (Section 4(q)) 20, NOTE: In terms of The Taxation Laws Amendments Act, No. 17 of 2009, the Section 4A rebate is rolled over for use in the future estate of the surviving spouse in this estate. TOTAL OF ACCOUNT 3 1,231, SUMMARY Value of all property of the Deceased - as per Account 1 1,231, PLUS: Value of deemed property of the Deceased - as per Account ,231, LESS: Deductions claimed - as per Account 3 1,231, DUTIABLE AMOUNT R 0.00 NO ESTATE DUTY PAYABLE EXECUTOR'S CERTIFICATE

5 Page 5 I, the undersigned, hereby declare that to the best of my knowledge and belief this account is a true and proper account of the Liquidation and Distribution of this estate and that all the assets, liabilities and income subsequent to the date of death have been disclosed herein. ANDREAS SPRINGER DATED at CAPE TOWN on 14 March 2016