Jaye just found out that her dad, Lloyd, has terminal cancer. Terminal illness can be devastating for afamily. The financial planner working with Lloyd will likely have to deal with which of the following?1. Estate documents.2. Beneficiary designation forms.3. Emotional issues.Statements 1 and 2Statements 1, 2, and 3Statements 2 and 3Statement 2 only

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Answered: Jaye just found out that her dad,…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Problem 19-36 (LO. 7) At the time of her death, Ariana held the following assets. Personal residence (title listed as "Ariana and Peter, tenants by the entirety with right of survivorship") Savings account (listed as "Ariana and Rex, joint tenants with right of survivorship") with funds provided by Rex Certificate of deposit (listed as "Ariana, payable on proof of death to Rex") with funds provided by Ariana Unimproved real estate (title listed as "Ariana and Rex, equal tenants in common") Insurance policy on Ariana's life, issued by Lavender Company (Ariana's estate is the designated beneficiary) Insurance policy on Ariana's life, Issued by Crimson Company (Rex is the designated beneficiary, but Ariana can change beneficiaries) Fair Market Value $900,000 40,000 100,000 500,000 300,000 400,000 Assuming that Peter and Rex survive Ariana, how much is included in Ariana's probate estate? Ariana's gross estate? (Refer to text Section 18-3a as needed.) Ariana's probate estate includes $…
6 Stella and Josh are young parents of two children, aged 1and 3 Stella is employed as a senior manager at a company where she is covered under a group i up his job to look after the children and is not covered under any insurance plan. The couple meets with an insurance agent to discuss their options to cover for child the event of Josh's disability. Which of the following recommendations is the agent likely to provide?
Question 8 Alexis, a life insurance representative, met with Tomas to discuss, among other financial matters, Tomas' concerns and life and disability insurance needs. Aged 32, Tomas is self-employed, having been laid off from a salaried position one year ago. He has since started a successful business of his own. In general, Tomas is fairly satisfied with his life: he and his wife live in a fully detached home with a small mortgage. And the mortgage carries a low rate of interest-a rate that Tomas does not expect will change much in the foreseeable future, given Canada's low Consumer Price Index. What financial risk should Alexis focus on first in her review with Tomas? a) Debt. b) Inflation. c) Longevity. O d) Loss of income.
Graduate students Romeo and Juliet settled into an apartment close to the school. Juliet wants to purchase renter's insurance, but Romeo believes they don't need it because their stuff isn't very valuable. They have some pricey computers and sound equipment, among other things, Juliet points out. To assist the Romeo in solving their problem, offer them some options for obtaining a policy, and recommend a strategy for choosing how much insurance to purchase
Problem 10-9 (LO10.1) Using the "nonworking" spouse method, what should be the life insurance needs for a family whose youngest child is 5 years old? Insurance need
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Personally Established Retirement Accounts These days, almost anyone can open personal, tax-sheltered retirement accounts whether or not they're enrolled in a plan at work. Terms and provisions vary among plans, so it pays to do some homework before deciding which is best for your circumstances and goals. To help you focus on the aspects of different plans, answer the following questions. Madeline is a sole proprietor. She wants to create a retirement plan that requires the least amount of setup and maintenance effort. What type of plan is Madeline most likely going to open? SEP-IRA О Кеogh Chun is a small-business owner. She wants to create a profit-sharing or money-purchase retirement plan. What type of plan is Chun most likely going to open? SEP-IRA О Кеogh Alison is 58 years old and opened a traditional IRA when she was 53. Alison earns less than $100,000 per year. Her contribution for this year is $7,000. This contribution is made entirely with: pretax dollars. O after-tax…
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! 2 ed ok t Required information [The following information applies to the questions displayed below.] Tom Hruise was an entertainment executive who had a fatal accident on a film set. Tom's will directed his executor to distribute his cash and stock to his spouse, Kaffie, and the real estate to a church, The First Church of Methodology. The remainder of Tom's assets were to be placed in trust for three children. Tom's estate consisted of the following: Assets: Personal assets Cash and stock Intangible assets (film rights) Real estate Liabilities: Mortgage Other liabilities $ 1,040,000 24,200,000 72,500,000 15,200,000 $ 112,940,000 $ 3,400,000 4,300,000 $ 7,700,000 ces a. Tom made a taxable gift of $5.30 million in 2011. Compute the estate tax for Tom's estate. (Refer to Exhibit 25-1 and Exhibit 25-2.) Note: Enter your answers in dollars, not millions of dollars. Estate Tax Due
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Isis quit her job at A Corp. While at A Corp., Isis was enrolled in their group health insurance plan. Now, Isis works for C Corp., which also has a group insurance plan. According to the Health Insurance Portability and Accountability Act, C Corp. must ______. a. pay A Corp. so that Isis can maintain her health insurance through A Corp b. wait to enroll Isis in C Corp.'s plan until she has been employed with the company for 1 year c. reimburse Isis for any out-of-pocket expenses she incurred while unemployed d. allow her to participate in the company group health insurance plan

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