Question 2 (10) You are the duly appointed executor in the estate of the late...
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Question 2 (10) You are the duly appointed executor in the estate of the late George Khumalo. George (a widower) left his entire estate in equal shares to his two sons, John and Felix Khumalo. The estate attests include: a. b. C. Agricultural land - Portion 5 of the farm Evergreen No. 65 situated in the District Gqeberha; in extent 290,1587 hectares. Valued at R3 500 000-00. Farming equipment, tools and machinery. Valued at R600 000-00. Livestock. Valued at R100 000-00. A residential property situated at 14 Tambotie Street, Groenkloof, Cape Town. Valued at R2 900 000-00. A 2020 Mercedes Benz GLB 220 d 4MATIC. Valued at R500 000-00. Furniture. Valued at R300 000-00. d. e. f. At this stage of the administration of the deceased estate, it is relatively certain that there is sufficient cash available to pay all estate liabilities (including administration costs). John was in George's employment as farm manager on Evergreen farm for the last 5 years preceding George's death. It has always been John's desire to work and retire on Evergreen Farm. Felix and his wife, Thandi, are currently residing in Pretoria. Thandi is originally from the Western Cape (Hermanus) and her parents and siblings are all still residing there. Thandi recently told Felix that she wanted to move closer to her family and, since Felix is a medical doctor, he can easily open a practice in Cape Town. What is expected from you: Advise John and Felix as to the most appropriate/required method(s) of liquidation of the mentioned assets in accordance with the information provided above
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