I am only looking for the calculations of assets not to write the paper!

Rich and his wife, Ruby, heard that you are an expert in the field of Estate Planning as a result of the superior education you received at WPU. They have been thinking about planning their estate for a long time now and have gone to a number of financial planners who have not been able to design a plan that makes sense to them. So they come to you for help.

Rich is age 58, and his wife, Ruby, is age 57. They have been married for 15 years and live at 4 Glendale Avenue, Wayne, NJ. They have a son from this marriage, Alvin, age 26, who is happily employed in the company business. Alvin is married to Arlene and they have two children, James age 6, and Jenny age 5. Both children attend a very exclusive and expensive private school. Ruby also has a daughter, Katie, from a previous marriage to Norman who passed away 20 years ago leaving Ruby assets in the amount of $300,000. Katie is age 24 and is not married. She is in school working on her doctorate degree in bio-gastric anthropology and is employed by Intestinal Labs, Inc. She makes about $105,000 a year and expects significant increases after she completes her degree which she expects will take approximately two (2) more years..

Katie also has a life partner, Caryn, who she has been with for three (3) years. Ruby likes Caryn and appreciates that Katie is happy in their relationship. However, she knows that Caryn is not financially secure and also knows that right now Katie would want to provide for Caryn if she ran into financial difficulty should Katie die. Ruby wants to advise Katie regarding the best strategies to consider in providing for Caryn knowing that Rich, his family and Ruby