Question
Jennifer, a CFP practitioner meets with new clients, Max and Alicia, for the first time. She reviews their overall financial and estate planning goals, and
Jennifer, a CFP practitioner meets with new clients, Max and Alicia, for the first time. She reviews their overall financial and estate planning goals, and their list of current assets. Max and Alicia have the following assets: Maxs 401(k) $250,000 - Alicia is the beneficiary Alicias 403(b) $520,000 Max is the beneficiary House owned as TbyE valued at $350,000 Vacation home Max inherited with his sister Ava as JTWROS valued at $500,000 Mutual fund account owned as TIC valued at $700,000 Bond portfolio owned JTWROS valued at $600,000 Max and Alicia have two children Doug and John. Doug is single and has no children. John was killed in a car accident last year, leaving two children, Tammy and Denise. Max and Alicia ask Jennifer several questions about their estate planning.
Which of the following assets will be available to satisfy the general bequests to Vicky and Dan?
Select one: a. Maxs 401(k) b. Vacation home c. Mutual fund account d. Bond portfolio
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started