EXERCISE

==========

Using the following information it is the aim to administer the estate during this course and to draw up and/or
complete all documents required to finalise the estate.

Your own facts must be supplied where necessary.

Your client John Jones died on 28/02/99. His widow saw you and gave you the following information.

1/ his will is attached.

2/ the assets in the estate consists of:

a/ farm registered in the name of the deceased valued at 500 000

b/ Farming implements valued at 50 000
c/ Motor vehicle valued at 100 000
d/ Cash in the bank 20 000
e/ Fixed deposit in the name of the surviving spouse 80 000
f/ Insurance policy with the surviving spouse as beneficiary 300 000
g/ House in Windhoek in the name of the surviving spouse 400 000

3/ The liabilities are:

a/ Funeral expenses 4 000

b/ Bond on farm 100 000
c/ Doctor's and hospital expenses 10 000
d/ Bond on Windhoek house 50 000

4/ His family are as follows:

a/ His wife Sarie to whom he was married out of community of property.

b/ His daughter Jenny Peters married in community of property to George Peters
c/ His daughter Mary Smith married out of community to John Smith
d/ Minor grandson Timothy Jones born 14/08/87, son of predeceased son Anthony
e/ illegitimate son William Cohen born 21/02/81

A Complete and/draw up the necessary documents to report the estate and to appoint you, Peter Miller, as
executor and draft the covering letter to the Master.

B List the steps to be taken by the executor from date of appointment until the account is lodged. completing
any required documents necessary.
You are unable to lodge the account in time. Draft an application for extension of one month.

C Draw up the Liquidation and distribution account.

 TESTAMENT.
-------------------

1/ This is the last will and testament of John Jones and Sarie Jones married out of community of property.

2/ We revoke all previous wills

3/ We mass our separate estate and appoint our children as sole heirs in equal shares subject to the usufruct of
the survivor of us.

4/ The survivor of us will not be required to furnish security for the said usufruct.

5/ We nominate Peter Miller as executrix and exempt our said executor from furnishing security.

Signed at Windhoek this 4th day of January 1996

As witnesses
------------------------ --------------------------
Sally Botha Testator

------------------------- --------------------------
Max Katz Testatrix