Cash at Bank £1,500
Household Furniture 350
Life Policies 2,000
Securities valued at death at 18,650
Freehold Property 8,500
-------
£31,000
Liabilities at death were £200, and Funeral Expenses amounted to £30.
Legal Expenses were also paid, amounting to £170.
The Securities and the Furniture realised £19,000 and £300 respectively.
A Legacy of £500 was left to his Nephew (free of duty).
The eldest Son of the Testator (Patrick) was given the option by the Will
to take over the Freehold Property at £7,500, which he elected to do. The
residue of the Estate was to be divided equally between the three children
of the Testator:--
Patrick,
Peter,
Paul,
but he directed that the amounts of £3,000, £2,000 and £1,000 advanced to
them respectively on the 1st June, 1911, were to be brought into hotchpot.
* * * * *
Prepare an Account showing the division of the residue, taking into
account the Duties payable, but ignoring Interest on Advances.
[Illustration: "Duly witnessed by his aged Housekeeper, Mrs. Uskins, and
the Gardener."]
PROBLEM No. 13.
It would be indelicate to indicate the exact portion of Mr. Hobson's
anatomy that was so fiercely attacked by the mad dog, but it is sufficient
to say that the bite was the indirect cause of his death.
He anticipated the end, for shortly before he passed away he called in his
Solicitor, Mr. Crawley, and made a fresh Will, which was duly witnessed
by his aged Housekeeper, Mrs. Uskins, and the Gardener.