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what is Ryan's gross estate? inancial Position Liabilities and Net Worth Mortgage note balance (JT) $157,119 Automobile loan (JT) $20,000 Assets Cash/checking accounts (JT) Life
what is Ryan's gross estate?
inancial Position Liabilities and Net Worth Mortgage note balance (JT) $157,119 Automobile loan (JT) $20,000 Assets Cash/checking accounts (JT) Life insurance cash value - Ascend, Inc. common stock (JT)? -Mutual fund (JT) -Collectibles (JT) Pension Plan -IRA -Residence (JT) Automobiles (JT) Personal Property (JT) Total liabilities $177,119 $5,000 $2,393 $10,000 $16,000 $13,500 $10,800 $5,430 $200,000 $28.800 $65.000 Net Worth $179.804 Total Assets S356,923 Liabilities and Net Worth S356,923 Policy is invested in US Large Cap variable account, 2 Stock was purchased on "tip" for $1,000 Mutual fund is invested in Global Mutual Fund: all dividends and capital gains are reinvested. The collectibles are an inherited stamp and coin collection with some quality stamps. Pensions plan is invested in GICs, Ryan is the primary beneficiary, and the children are the contingent beneficiaries. " His IRA is self-directed; Nancy is the primary beneficiary, and the children are the contingent beneficiaries. Replacement cost is $150,000, * Mortgage is a 30-year fixed at 5.75%(3 years old). Life Insurance Ryan is insured through his firm's employee group term life insurance policy; the current face value is $90,000; the primary beneficiary is Nancy, and the children are contingent beneficiaries. Nancy is insured through her company's group term life insurance policy; the current face value is $120,000: Nancy also owns an individual variable universal life policy with a face value of $75,000. Ryan is the primary beneficiary on both policies, and the children are contingent beneficiaries. They both feel they need additional life insurance. Nancy feels she needs an additional $275,000, and Ryan feels he needs an additional $400,000. They want life insurance to pay off the existing mortgage at the death of the first spouse (first-to-die-mortgage term). Assume this coverage is also put into effect to answer the following questions in addition to the individual $275,000 and $400,000 of life insurance policies shown above. 2 Wed inancial Position Liabilities and Net Worth Mortgage note balance (JT) $157,119 Automobile loan (JT) $20,000 Assets Cash/checking accounts (JT) Life insurance cash value - Ascend, Inc. common stock (JT)? -Mutual fund (JT) -Collectibles (JT) Pension Plan -IRA -Residence (JT) Automobiles (JT) Personal Property (JT) Total liabilities $177,119 $5,000 $2,393 $10,000 $16,000 $13,500 $10,800 $5,430 $200,000 $28.800 $65.000 Net Worth $179.804 Total Assets S356,923 Liabilities and Net Worth S356,923 Policy is invested in US Large Cap variable account, 2 Stock was purchased on "tip" for $1,000 Mutual fund is invested in Global Mutual Fund: all dividends and capital gains are reinvested. The collectibles are an inherited stamp and coin collection with some quality stamps. Pensions plan is invested in GICs, Ryan is the primary beneficiary, and the children are the contingent beneficiaries. " His IRA is self-directed; Nancy is the primary beneficiary, and the children are the contingent beneficiaries. Replacement cost is $150,000, * Mortgage is a 30-year fixed at 5.75%(3 years old). Life Insurance Ryan is insured through his firm's employee group term life insurance policy; the current face value is $90,000; the primary beneficiary is Nancy, and the children are contingent beneficiaries. Nancy is insured through her company's group term life insurance policy; the current face value is $120,000: Nancy also owns an individual variable universal life policy with a face value of $75,000. Ryan is the primary beneficiary on both policies, and the children are contingent beneficiaries. They both feel they need additional life insurance. Nancy feels she needs an additional $275,000, and Ryan feels he needs an additional $400,000. They want life insurance to pay off the existing mortgage at the death of the first spouse (first-to-die-mortgage term). Assume this coverage is also put into effect to answer the following questions in addition to the individual $275,000 and $400,000 of life insurance policies shown above. 2 WedStep by Step Solution
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