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Jse Worksheet 8.1 Aurora Bell is a 72 -year-old widow who has recently been diagnosed with Alzheimer's dsease. She has limited financial assets of her

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Jse Worksheet 8.1 Aurora Bell is a 72 -year-old widow who has recently been diagnosed with Alzheimer's dsease. She has limited financial assets of her own end has peen living with her daughter Skylar for 2 years. Her only income is $700 a month in Social Security survivor's benefits, Skylar wants to make sure her mother will be caken care of it Skyler should die, 5kylac,40, is single and eams $40,000 a year as a human resources manoger for a small manufacturing firm. 5 he owns a condo with a current market value of $185,000 and has a $148,000 mortgage. Other debts include a $2,000 auto loan and $400 in various crecit card balances. Her 401(k) plan has a zurrent balance of $80,500, and she keeps $10,500 in o money market account for emergencies. After talking with her mother"s doctor, Skylar beliaves that her mother Will be able to continue fiving independently for another 3 years. She estimates that her mother would need about $1,250 a month to cover her tiving expenses and. mecticat costs during this time. Arter that, Skylar's mother will probabiy need nursing home care. Skylar calls srveral locel nursing homes and finds that it will cost about 35,000 a month when her mother enters a nursing home. Her mother's doctor says it is difficuit to estimate her mother's life expectancy but indicates that with proper care some Altheimer's patients can live 10 years after diagnosis. Sxylar also estimates that her personal final expenses would be around $4,000, and she'd like to provide a $35,000 contingency fund that would be used to pay a trusted friend to supervise her mother's care if skylar were no longer alive. Use Workshent B. I to calculate Shyar's totel life insurance requirements. In your analysh, assume there are no incidentai special need amounts

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