Designation for respective life insurance policies

Assignment Help Finance Basics
Reference no: EM131987046

John age 38, and Mary age 35 have limited assets at their stage in life. Other than a home (with a big mortgage), IRA and 401 (k) accounts, and some personal property, they have some cash and investments. They each individually have a $1,000,000 life policy with each other as primary beneficiary and their children (ages 8 and 10) as secondary beneficiaries. Which is the most appropriate beneficiary designation for their respective life insurance policies?

a. Leave unchanged

b. Change the primary beneficiary to the children

c. Set up a revocable living trust with applicable credit provisions and name the trust as the beneficiary

d. Set up a testamentary trust with applicable credit provisions and name the trust as the contingent beneficiary

Reference no: EM131987046

Questions Cloud

Support the administration and management of internetworking : Overview of Internetworking - Primary School Network Design - Implement a process to support the administration and management of internetworking
Custodial account value included : Mr. Thomas has recently died. He was donor/custodian of his grandson's UTMA account. Is the custodial account value included
The communication flow between organizational levels : Describe how each layer of the Model/Suite represents the communication flow between organizational levels and across departments.
Prepare the balance sheet at the end of the second year : The interest rate in the economy is 10%. You should show all your works. Prepare the balance sheet at the end of the second year for the company
Designation for respective life insurance policies : Which is the most appropriate beneficiary designation for their respective life insurance policies?
Future state of the internetworking infrastructure : Primary School Network Design with Guest Network - Analyse and report on the current and future state of the internetworking infrastructure and its applications
Write an essay about thousand splendid of suns : Write an essay about Thousand splendid of suns. Jalil is the opposite of Rasheed, he always submits to his wives, and can't stand up for himself.
Discuss how the three levels of management hierarchy : Review at least 4 academically reviewed articles on each management hierarchy. Summary the articles in your own words.
What is the overhead rate per hour : Assume that the projected overhead costs for the coming period are $3,800,000, What is the overhead rate per hour

Reviews

Write a Review

Finance Basics Questions & Answers

  What is most you would be willing to pay for alfa growth inc

If your required return on this stock is 12.96 percent, what is the most you would be willing to pay for Alfa Growth, Inc. common stock now?

  How much is the net income or loss for the company

Beginning Retained Earnings are $65,000; sales are $29,500; expenses are $33,000; and dividends paid are $3,500. How much is the net income or loss for the company

  Most ethical and socially responsible

Your company is losing money and sadly, they have to downsize. You are the HR manager and you have to give all the departments a guide for selecting people to let go. Please tell me the most ethical and socially responsible way to make the choice ..

  Owned the strip on brenna side of the fence

Steven Fichera. Brenna never intended to take the land away from anyone. Brenna later brought an action against Steven to determine who owned.

  Players in the national basketball association

You read an article that states, "Of the 411 players in the National Basketball Association, only 138 make more than the average salary of $3.12 million."

  Estimate the beta for southwestern bell

Southwestern Bell, a phone company, is considering expanding its operations into the media business. The beta for the company at the end of 1995 was 0.90.

  Discuss the main sources of risk in commercial banking

Discuss the main sources of risk in commercial banking and critically evaluate the approaches used to conduct risk-adjusted performance measurement.

  Historical transition matrix for corporate bond ratings

Please explain what information is contained in an historical transition matrix for corporate bond ratings. How might this information be used by a bond portfolio manager to help assess credit risk, over one year and three year horizons?

  Key aspect of the patient protection-affordable care act

A key aspect of the Patient Protection and Affordable Care Act is rewarding hospitals for strong performance and penalizing them for quality issues, such as high infection rates and high readmission rates to the facility.

  What would the long run impact be on policy response

If they were incorrect and the increase in output resulted simply from a positive supply shock, what would the long-run impact be of their policy response?

  What are your monthly payments

1. Three years ago you took out a 30-year amortizing loan. The loan has a 6% APR with monthly payments (and monthly compounding). a) What are your monthly payments if your current loan balance is $368; 600?

  Financial statements for a publicly traded organization

To begin, research the latest two years of financial statements for a publicly traded organization based in the U.S. Obtain the organization's three most recent annual reports. You may choose any organization, as long as the data needed to complet..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd