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NQF level: |
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| Module presented in |
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| Purpose: Syllabus/Content:
The outcomes are the following:
Outcome 1
Drafting of Liquidation and Distribution Account (L & D Account)
Drafting the Heading of the Liquidation and Distribution Account
Drafting of the Liquidation Account
Drafting of Recapitulation Statement
Drafting of Distribution Account
Drafting of Income and Expenditure Account
Drafting of Fiduciary Account
Drafting of the Estate Duty Addendum
Drafting of the Executors Certificate
Outcome 2
Students are competent if evidence shows that they are able to:
Identify property and deemed property in a deceased estate;
Determine the value to be used for estate duty purposes of all property and deemed property in a deceased estate, including limited interests;
Identify the various deductions and rebates allowed for estate duty purposes and apply it according to current legislation; Calculate and apportion the estate duty liability of a deceased estate;
Calculate the aggregate capital gain/loss for a deceased estate in the following situation:
Transfer of assets from the deceased to the deceased estate
Transfer of assets by the executor to beneficiaries
Sale of assets to third parties by the executor
Having mastered this module, you should have developed a clear knowledge and understanding of administering the estate of the deceased and the skills to apply your theoretical knowledge to practice in the context of problem situations in your day-to-day work environment. You will be required to demonstrate that you can interpret the Administration of Estates Act 66 of 1965 and the Regulations to the Act.
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