Other
PVL2602 - Assignment 1 - May 2021
- Course
- Institution
This is the final submitted version of a completed PVL2602 Assignment written in May 2021 by a 2024 cum laude student.
[Show more]
Seller
Follow
kayleighmay
Content preview
Kayleigh MayStudent number: 68021321
PVL2602 – Assignment 1
Date: 24/05/2021
, Question 1
Wanda’s total estate is equal to R600 000, comprising of her R500 000 and the accrual
of R100 000 from Xavier’s estate that she is entitled to. This accrual is added to her estate
before it is divided between the beneficiaries.
In this case, the possible beneficiaries are as follows:
• Xavier – he is first in line for inheriting from Wanda’s estate, as provided by Section
1(c)(i) of the Intestate Succession Act, which states that the surviving spouse shall
be eligible to receive a child’s portion of the estate, equal to or greater than a fixed
amount as determined by the Minister of Justice in notice in the Government
Gazette, which is currently set at R250 000. The surviving spouse will receive
which ever amount is the largest, and the remainder of the estate value will then
be divided by the surviving descendants eligible to inherit from the estate.
• Ben – he is eligible to inherit from Wanda’s estate, as he is a blood relation and
descendant. This is in line with Section 1(2) of the Intestate Succession Act.
• Francis – she refused to inherit from her mother, thus she won’t be included in the
distribution of the estate. Section 1(7) of the Intestate Succession Act stipulates
that if a person is disqualified from being an heir of the deceased, or decides to
repudiate their inheritance, the benefit the heir would have received devolves, as
if the heir had died before the deceased, and as if they had not been disqualified
from receiving or refused the inheritance. This means that the heir is considered
predeceased, and any descendants of the predeceased would have inherited their
portion of the estate. However, when an heir repudiates their inheritance, one must
read section 1(7) and 1(6) of the Act together, as section 1(7) is subject to section
1(6). These sections together illustrate the following: if an intestate heir repudiates
their inheritance and the deceased is survived by a spouse, the surviving spouse
will inherit the repudiating heir’s portion of the estate. Only if the deceased is not
survived by a spouse, will the repudiating heir be deemed predeceased and the
descendants of the repudiating heir will inherit by representation per stirpes. In this
case, it means that neither Francis nor her descendants will inherit, but Xavier will
receive her portion of the estate, as he is the surviving spouse.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller kayleighmay. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $8.56. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
56326 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now