A CFP$$ professional meets with two new clients who would like advice about their mortgage. In the review, the CFP$$ professional finds that their essential expenses exceed their income. Mortgage rates have come down significantly and they intend to refinance their current $30-$year mortgage to a $15-$year mortgage. Their payments will be higher than their current payment. However, they will pay off the mortgage five years earlier than the current amortization schedule allows. What should the CFP$$ professional do$?$

Suggest they meet with their mortgage broker

Suggest they refinance to a $30-$year fixed mortgage and begin funding savings

Suggest they refinance to the $15-$year mortgage, which would reduce the amount of interest paid over the life of the loan

Suggest they stay with their current mortgage, as the higher interest is tax$-$deductible

Carl, age $55,$ is a long$-$time client and is meeting with you to review his retirement assets. He maintains a traditional IRA and several mutual funds, as well as participating in his employer's $401($k$)$ plan and cash balance pension plan. Carl informs you he is in the process of divorce and he is currently negotiating the splitting of retirement assets. Each of his accounts has grown to have significant balances, and Carl would like to reach a settlement in the most tax$-$efficient manner. Which of these are recommendations you should make to Carl?

Advise Carl to make a loan from the $401($k$)$ plan to pay his ex$-$spouse her portion

Advise Carl to explore having a QDRO executed to pay his ex$-$spouse her portion from his qualified plans

Because they are nonqualified, liquidate the mutual funds in sufficient amounts to pay his ex$-$spouse her portion

Remind Carl to speak with his attorney and retirement plan administrator to review his beneficiary designations

I and IV

I and III

II and IV

II and III