PVL2601 ASSIGNMENT 4 DUE 15 APRIL 2024 WITH CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) ||ALREADY GRADED A+ What is the Acc

PVL2601 ASSIGNMENT 4 DUE 15 APRIL 2024 WITH CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) ||ALREADY GRADED A+ What is the Accrual System? - CORRECT ANSWER-Fundamental idea - one spouse contributes financially & otherwise to the growth of the other spouses' estate & should therefore be entitled to share in that spouse's estate on the dissolution of the marriage. Donations between spouses are allowed. Accrual system automatically applies to all marriages that do not specifically exclude it concluded on or after 1 November 1984 & for black marriages on or after 2 December 1988. How does one Calculating the accrual? - CORRECT ANSWER-1. End value - commencement value (CPI) - assets which do not form part of accrual. 2. The smaller estate - larger estate / 2 = accrual claim 3. Commencement value - usually state value in ANC, deemed nil if liabilities are more than assets, if no value is declared it is deemed to be nil. Which Assets do not form part of accrual? - CORRECT ANSWER-1. Non patrimonial damages a spouse received during marriage. 2. Assets excluded in the ANC, proceeds of such assets also excluded. 3. An inheritance, legacy or donation one spouse receives from a 3rd party. 4. Donations inter vivos - between living spouses.