It was the summer of 2011, and your client, Mr. Werner, called you to let you know that he would like you to attend a family gathering within two weeks. In the Meeting Mr. Werner, 55 years old, announced that he will retire and turn his business, a confectionary production facility with 6 outlets, to his son Adam (37 years old, married, have two sons9, 11 years old and a daughter 6 years old) and his daughter Jessica (34 years old, single, independent lady with no near future marriage plans) which they are currently partners with 25% each in the business, the rest is Mr. Werners share 40% and his wife Monica 10%. The business net worth is CAD 25M. A huge dividend from the retained earnings account amounting to a net of CAD 15M will be made as per the partners shares will take place after which a donation will be granted from Mr. Werner to each of his kids for CAD 2.5 M. with one condition to be fulfilled. Due to the tough childhood Mr. Werner had due to his fathers gambling habit that resulted in losing his fortune and dying leaving the family in an agony, Mr. Werner wanted to secure his children and grand children future. In the meeting Mr. Werner introduced you as his trusted financial advisor and asked you to conduct a comprehensive financial plan for him and his son and daughter, tailor made to their personal conditions and status taking into consideration the cash dividends that will be received. In other words, his condition for this mega cash release is to use this cash for securing the family, aside from the running business. The cash each family member will get: Mr. Werner and his wife CAD 2.5 M Adam and his Family CAD3.75M dividends CAD2.5M fathers grant a total of CAD6.25 M. Jessica CAD3.75M dividends CAD 2.5M fathers grant a total of CAD6.25 M. Mr. Werner plan is to use this cash to have a world tour with his wife and secure his needs, want to have the business easily transformed to his siblings and to secure their life against any economic turbulence. You left the meeting with a preliminary plan about what you are going to propose to each family member related to their either insurance or investment needs. Feel free to add any assumptions for the case, just make sure to clearly mention them is a separate section. Make the right blend of insurance and investment products to minimize risk and taxes