Facts:

You are sitting in your office when your assistant tells you that your new clients have arrived for their estate planning consultation.

Al and Peggy Bundy walk in your office door. They give you a financial statement (which is attached). They also give you a list of questions that they would like you to answer. You tell them that you will analyze their questions and will respond to the questions by writing a letter to them.

As you visit with them you discover the following information:

1. This is Al's first marriage. This is Peggy's second marriage. Peggy and Al, together, have two biological children - Bud and Kellie. Peggy also has an adult son, Jefferson, from her first marriage. Al does not have any other children other than Kellie and Bud, he did not legally adopt Jefferson.

2. Al is 56 years old and Peggy is 48 years old.

3. Bud is 15 years old; Kellie is 17 years old and Jefferson is 31 years old.

4. Al and Peggy do not have a good relationship with Jefferson. In fact, they want to make sure he does not inherit anything from either one of them.

5. Al and Peggy do not have wills or trusts.

6. If something happens to both of them, they want Peggy's friend, Marcy, to care for the children. Under no circumstances do they want Peggy's mother to care for the children.

7. They want $5,000 to go to Polk High School Endowment when they are both deceased. Peggy wants her diamond pin (which is in the shape of a bingo card) to go to her friend, Marcy. The diamond pin has an appraised value of $10,000. The rest of the assets they want split between Kellie and Bud. However, they are hesitant about giving Kellie's share to her outright. They tell you that if at all possible, they would like Kellie to be at least age 45 before she receives her share.

Bundy Family assets: