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lest time left: 01:56:07 X and Y are in their mid-30's and have two children, age 8 and 5. They have combined annual income of 3.18,00,000 and owns a house in joint tenancy with a market value of 90,00,000, on which they have mortgage of 60,00,000. X has . 5,00,000 in group term life insurance and an individual universal policy for . 7,00,000. However, Y haven't prepared their wills. X plans to draw one up soon, but the couple thinks that Y doesn't need one because the house is jointly owned. As the financial planner, explain why it's important for both X and Y to draft the will as soon as possible. Once you upload files from your second device, click on Sync to check your submission