De Mortuis Nil Nisi Bona Part 4

Household Furniture 350.

1,500 Loan at 5% per annum. The Interest had been received up to 31st December, 1913.

Sundry Debts due to Testator, 346.

Sundry Debts due by Testator, 550.

Funeral Expenses, 42.

Mr. Wardle had for many years left his affairs entirely in the hands of his Solicitor, but Mrs. Wardle, who was Sole Executrix, thought--and very properly too--that the combination of a Solicitor and a Professional Accountant was to be preferred. She therefore journeyed to the City with the intention of consulting her Stockbroker on the matter, but by a curious Providential dispensation, the Motor Omnibus broke down just opposite Jones' office, and his Bra.s.s Plate attracted the Sweet Lady's attention!

He prepared the Estate Duty Account, the affidavit being delivered on the 31st July, 1914, and he is now Mrs. James Wardle's Second Husband.

Do as Jones did, but ignore Income Tax, and beware of Widows.

[Ill.u.s.tration: "Julius Jones was a poet."]

PROBLEM No. 12.

Julius Jones was a poet, and although he died prematurely on the 30th June, 1914, his name will be remembered by posterity as the author of the beautiful Hymn, of which the first line runs "Farewell, old buck, we part to meet again!"

He left the following Estate:--

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.

[Ill.u.s.tration: "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 antic.i.p.ated the end, for shortly before he pa.s.sed 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.

The Estate, which consisted entirely of Personal Property, comprised:--

(1) Share in the firm of Hobson Bros., 11,500.

(2) Bonds to Bearer valued at 6,300.

(3) Cash at Bank 220.

The debts due by deceased, including a Loan from the Bank secured on the Bonds to Bearer, amounted to 3,160, and the Funeral Expenses came to 42.

The Property was bequeathed as follows:--

Mrs. Hobson (Widow), 2,500.

George Hobson (Son, aged 27), 2,000.

Selina Hobson (Daughter, aged 18), 2,000.

Wickham Crawley (Solicitor), 200.

Maria Hawkins (Niece, aged 28), 1,000.

George Hobson, Junr. (Grandson, aged 4), 1,500.

Mrs. Uskins (Housekeeper), 500.

Mrs. Rumbolt (Deceased Brother's Wife), 500.

Mrs. Hobson, Senr. (Deceased's Mother), 2,000,

and the Residue to the Widow absolutely.

Prepare a Distribution Account.

[Ill.u.s.tration: "London and North Western Consolidated Stock."]