TOMMY AND JOHNNY MOCK EXAM 20 QUESTIONS 60 MINUTES

Gen bequeaths a residential property to her sister Talya on condition that Talya pay their Mom’s monthly expenses in full.

Select the incorrect statement:

If one assumes that a person dies with a valid Will. The provisions in the Will are:

To my husband, the primary residence, household content and the motor vehicles. 

To my daughter, all my jewellery and clothes

To an testamentary trust, all my investments.

The residue to my husband.

The deceased and her husband were married with the accrual. The husband had an accrual claim against the deceased estate.

If the executor establishes that the deceased estate is not liquid, he has to consider selling assets and or cash in investments. The executor has a process to

follow. If one assumes that the beneficiaries of the deceased estate are not in talking terms with one another , it will leave the executor with no other option but to follow a process.

Match the statements below.

Pamela is uncertain of a certain provision in her Will which is: 

We hereby mass our separately held residence and bequeath the residence to the children born of our marriage who survive the first-dying of us. We bequeath the residue of the estate of the first dying to the survivor of us.

Pamela is married to Tom out of community of property excluding the accrual system.  Pamela alone owns the primary residence. Her intention is for the children to inherit the residence after Tom’s death. In light of her intention and the clause in the Will, select the most correct statement

Gail, her husband Ernest and their 3 children, were involved in a car accident. Unfortunately Gail and her husband died and the one child Bruce, was critically ill in hospital. The executor commenced the process with the estate administration. An amount of R1 789 000 was available for distribution. Just before the Master managed to approve the liquidation and distribution account, Bruce, who was critically ill passed on. Bruce was 19 years but had no descendants of his own.

Select the most correct statement in relation to the intestate distribution:

One of the provisions in Bobby’s will is as follows:

I bequeath my entire estate to my said wife Pretty on the condition that on her death, one half of my said estate is to devolve on any charitable institution and in such shares or portions as she in her discretion may by her last will direct.

The provision as written in the Will results in:   Select the correct statement

Pretty has included the following provision in her will. She was advised that this provision would ensure that Gary has the use of the house until his death.

I bequeath my primary residence to my husband Gary.  I bequeath the same residence to both my children it being my intention that should either one of them predecease me or not accept the aforesaid inheritance, then the residence is to devolve in the child who survives me or who is able to accept the said benefits.

Choose the correct statement below:

Lesley is drafting her will. She has thought of the possibility of creating either a usufruct or a fiduciary interest on the primary residence in Kloof, for the benefit of her children. She does not want to kick Kevin out either as she feels the need to care for him.  The children are, at this stage, all below the age of 10.

She has included the following provision in her will:

I bequeath the primary residence to my said husband Kevin, subject to the condition that should he remarry, the primary residence shall then accrue in equal proportions to the children born of our marriage or their issue per stirpes. Should he not remarry , the primary residence shall on his death devolve in equal proportion to the children born of our marriage or their issue per stirpes.

Select the correct statement below:

Sally is drafting her will. She has thought of the possibility of creating either a usufruct or a fiduciary interest on the primary residence in Kloof, for the benefit of her children. She does not want to kick Geoff out either and needs to care for him.

She has included the following provision in her will:

I bequeath the primary residence to my said husband Geoff, subject to the condition that should he remarry, the primary residence shall then accrue in equal proportions to the children born of our marriage or their issue per stirpes. Should he not remarry , the primary residence shall on his death devolve in equal proportion to the children born of our marriage or their issue per stirpes.

Choose the correct statement below:

Betty and Gavin are married with the accrual. Betty has unfortunately passed on and sadly has no Will. She has left behind her two minor sons and her mother.

 The gross estate value is R4 500 000 which includes: A usufruct value of R1 500 000 in which Betty had the use of a holiday home and an accrual claim in favour of Gavin of R1 320 000.

The total expenses and debts amount to  R1 000 000.

Calculate the amount the will be distributed to Betty’s heirs intestate.