Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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.
Max wishes to leave his interest in the vacation home to his children. Jennifer tells him that he can do this by simply bequeathing his interest to his children, by will. Is this True or False?
Group of answer choices
True
False

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Finance questions

Question

Do managers motivate subordmates by listening to them?

Answered: 1 week ago