THE FIRST LIQUIDATION AND DISTRIBUTION ACCOUNT IN THE TESTATE ESTATE OF THE LATE

(name of deceased), WITH IDENTITY NUMBER (as written on the ID) WHO DIED ON (date of
death), IN (region), SINGLE.
MASTER’S REFERENCE NUMBER:

ITEM SUBTOTAL TOTAL (N$)

(N$)

LIQUIDATION ACCOUNT

ASSETS

IMMOVABLE PROPERTY
Erf. 465, Extension 1 1 570 000.00

MOVABLE PROPERTY
Livestock (Cattle x 58) 2 580 000.00

CLAIMS IN FAVOUR OF THE ESTATE

First National Bank with Account No. 3 389 306.03

TOTAL ASSETS 1 539 306.03

LIABILITIES

ADMINISTRATION COSTS
Section 29 Advertisements:
Government Gazette 4 27.00
The Namibian Newspaper 5 600.60 627.60

Section 35 Advertisements:
Government Gazette 6 27.00
The Namibian Newspaper 7 600.60 627.60

Masters Fee as per tariff@ N$ 3.00 per completed N$ 8 3000.00

1000.00 on N$ 1 539 306.03
Executor’s Fee @ 3.5% of N$ 1 539 306.03 53 875.71

15% VAT on executor’s fee 8 081.36 61 957.07

Opening of Estate Bank account: 9
Bank Windhoek Acc. No: (CHK)
100.00

Ngonyofi Property Investments cc: Valuation of 10 850.00

immovable property
Agra: Valuation of livestock 11 100.00
Provision: Bank Charges 500.00

Provision: Transfer/Conveyancer’s costs 12 10 000.00

TOTAL LIABILITIES 77 762.27

BALANCE FOR DISTRIBUTION 1 461 543.76

CASH RECAPITULATION STATEMENT

Total Cash & Assets collected as Cash: (Item no. 3) 389 306.03

LESS: Total Liabilities 77 762.27

CASH SURPLUS: To be distributed in terms of Clause 3.5 of 311 543.76
the Last Will and Testament of the Deceased

DISTRIBUTION ACCOUNT
BALANCE FOR DISTRIBUTION BROUGHT FORWARD 1 461 543.76

To be distributed in terms of the last will and testament of

the deceased dated 02 October 2018.

SPECIAL BEQUESTS
1. To: RAHJA, ID NO: , A MAJOR DAUGHTER, SINGLE

• ½ share in immovable property (Clause 3.1 of will) 285 000.00

• 50% of cash surplus (Clause 3.5.1 of Will) 155 771.88
440 771.88
2. To: HILYA, ID NO: , A MAJOR DAUGHTER,
MARRIED.
• ½ share in immovable property (Clause 3.1 of Will) 285 000.00
• 30% of cash surplus (Clause 3.5.2of Will) 93 463.13
378 463.13
3. To: HELVI, ID NO: , A MAJOR DAUGHTER, SINGLE

• 1 x Cattle (@ average price) (Clause 3.2 of Will) 10 000.00

10 000.00
4. To: ERIKSON , ID NO: , A MAJOR TESTATE HEIR

• 1 x Cattle (@ average price) (Clause 3.2 of Will) 10 000.00

10 000.00
5. To: NANGULA , ID NO: , A MAJOR TESTATE HEIR,
SINGLE

• 1 x Cattle (@ average price) (Clause 3.2 of Will) 10 000.00

• 10% of Cash surplus (Clause 3.5.3 of Will) 31 154.37
41 154.37
6. To: ELIZABETH, ID NO: , A MAJOR TESTATE HEIR,
SINGLE

• 1 x Cattle (@ average price) (Clause 3.2 of Will) 10 000.00

10 000.00
7. To: INDILENI, DATE OF BIRTH: 21/01/2004, A
MINOR TESTATE HEIR, SINGLE

• 1 x Cattle (@ average price) (Clause 3.2 of Will) 10 000.00

10 000.00
 8. To: MATHEUS, ID NO:, A MAJOR TESTATE HEIR

• 5 x Cattle (@ average price) (Clause 3.3 of Will) 50 000.00

50 000.00
9. To: TOINI, ID NO:, A MAJOR TESTATE HEIR, SINGLE

• 5% of Cash Surplus (Clause 3.5.4 of Will) 15 577.19

15 577.19
10. To: HISKIA, ID NO: , A MAJOR TESTATE HEIR

• 5% of Cash Surplus (Clause 3.5.5 of Will) 15 577.19

15 577.19

RESIDUE

1. To: mary smith, ID NO: , A MAJOR DAUGHTER,

SINGLE

• 48 x Cattle (Remaining) @ average price (Clause 4 of 480 000.00

Will)
• 2 x Firearms/ old shot guns (with no commercial 0.00
value, only sentimental value) (Clause 4 of Will)
480 000.00

TOTAL DISTRIBUTION 1 461 543.76 1 461 543.76

Awards consist of:

1. Immovable Property 570 000.00

2. Cash Surplus 311 543.76
3. 58 x Cattle 580 000.00
4. 2xFirearms (no commercial value) 0.00 1 461 543.6

INCOME & EXPENDITURE ACCOUNT

FOR THE PERIOD BETWEEN 11 FEBRUARY 2019 TO 31

MARCH 2020
None

FIDUCIARY ASSET ACCOUNT

None

ESTATE DUTY ACCOUNT

Not Applicable

EXECUTOR’S NOTES

1. The two firearms listed in the inventory are very old

and have no commercial value. They however hold
sentimental value to the heirs to whom they were
bequeathed. We thus included them in the L&D
Account and distributed them in accordance with
the wishes of the deceased in his last will and
testament.

2. The Toyota Double Cab and Land Cruiser mentioned

in the Inventory will be dealt with in the Second and
Final L&D Account.

3. The deceased held shares in TLP Sixty Nine

Investments cc and Ongodivi Marine Products (Pty)
Ltd, which we will deal with in the Second and Final
L&D Account.

4. The Old Mutual Annuity Policy listed in the

inventory will be dealt with in the Second and Final
L&D Account.

5. The average price of individual cattle has been

placed at N$ 10 000.00 as per the valuation report
issued by Agra.

EXECUTOR’S CERTIFICATE
I, THE UNDERSIGNED, HEREBY DECLARE THAT, TO THE BEST
OF MY KNOWLEDGE AND BELIEF, THIS ACCOUNT IS A TRUE
AND PROPER ACCOUNT OF THE FIRST LIQUIDATION AND
DISTRIBUTION OF THIS ESTATE AND THAT ALL THE ASSETS.
LIABILITIES AND INCOME AND EXEPENSES SUBSEQUENT TO
THE DATE OF DEATH HAVE BEEN DISCLOSED HEREIN.

…………………………………………………………………………….
(name of agent/executor)

AGENT OF THE EXECUTRIX BY VIRTUE OF LETTERS OF

EXECUTORSHIP DATED 18 JUNE 2019 AND POWER OF
ATTORNEY DATED 10 MAY 2019.

DATED AT WINDHOEK ON 10 JUNE 2020