Other
PVL2602 ASSIGNMENT 1 SEMESTER 1 2023
- Course
- LAW PVL2602
- Institution
- University Of South Africa (Unisa)
A WELL WRITTEN DOCUMENT ,WITH THOROUGHLY EXPLAINED ANSWERS . PASS GUARANTEED
[Show more]
Content preview
PVL2602ASSIGNMENT 1
SEMESTER 1
2023
, Q1 In this scenario, since Tom died intestate, the Intestate Succession Act 81 of 1987 will
apply. Tom and Wendy had four children, Ayanda, Bongani, Charlotte (adopted), and Dumi.
Wendy predeceased Tom and their daughter Charlotte also passed away. Charlotte had a son
named Siya who survived her.
Therefore, Tom's estate of R800 000 will be distributed as follows:
The first R250 000 will go to Tom's surviving spouse, if any. But, in this case, Tom was not
survived by a spouse.
The next R250 000 or a child's share thereof will go to Tom's children in equal shares.
Therefore, Ayanda, Bongani, and Dumi will each receive R166 666.67.
The remaining balance of R300 000 or a residue of a child's share thereof will be distributed
according to the "per stirpes" method. This means that Charlotte's share will be divided
equally among her children. As Charlotte had only one child, Siya, he will inherit Charlotte's
share, which is R83 333.33.
Therefore, the distribution of Tom's estate will be as follows:
Ayanda, Bongani, and Dumi: R166 666.67 each
Siya (Charlotte's son): R83 333.33
Reasoning: Tom died intestate, so the Intestate Succession Act 81 of 1987 applies. The Act
sets out a hierarchy of heirs who are entitled to inherit from the deceased's estate. In this
case, since Tom was not survived by a spouse, his estate will devolve to his children and
grandchildren. The Act also specifies how the estate should be divided among the heirs.
here are the calculations for the distribution of Tom's estate:
The first R250 000: Not applicable as Tom was not survived by a spouse.
The next R250 000: R800 000 - R250 000 = R550 000
R550 000 ÷ 3 (for Ayanda, Bongani, and Dumi) = R183 333.33 per child
Ayanda, Bongani, and Dumi will each receive R166 666.67 (which is a child's share)
The remaining balance: R800 000 - R250 000 - R250 000 - R500 000 (Ayanda, Bongani, and
Dumi's shares) = R300 000
R300 000 ÷ 4 (for Charlotte's child Siya) = R75 000
Siya will receive R75 000 (which is Charlotte's share)
Total distribution:
Ayanda, Bongani, and Dumi: R166 666.67 each
Siya (Charlotte's son): R83 333.33
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 EFT, 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 this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Regal00. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R50,00. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
73216 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy summaries for 14 years now