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Question 8 (1 point) Listen FP10-7.1 Wes, age 67, is considering his estate planning options and is meeting with his financial advisor Tina. Wes is

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Question 8 (1 point) Listen FP10-7.1 Wes, age 67, is considering his estate planning options and is meeting with his financial advisor Tina. Wes is widowed and has one adult daughter named Daphne Wes has heard his friends talk a lot about probate costs and mentions that he wants to do what he can to avoid probate. One of his major assets is his non-registered investment account, with a fair market value (FMV) of nearly $1 million dollars and an adjusted cost base (ACB) of roughly $250,000. Outside of the investment account, Wes has an RRSP and his personal residence. All of Wes' assets are held in Ontario. Wes wants his estate to pass his daughter. He is in a high tax bracket and wants to make sure any planning he undertakes does not increase that or does not cause any taxable events at this time. What advice should Tina give to Wes in order to meet his estate planning objectives? a) Wes should name Daphne as the beneficiary of his RRSP. b) Wes should name Daphne as the beneficiary of his investment account. c) Wes should utilize multiple wills. d) Wes should add Daphne as a joint with rights of survivorship to his non- registered account

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