Estate Planning - Case Study Essay

1428 Words Jul 13th, 2013 6 Pages
Michaela Romanova Mary and Robert Trenticosta case
You and your husband are married for two years living in community property state with a prenuptial agreement declaring that all the property owned is a separate property. You came to seek for advice to accomplish your financial objectives. Being able to retire when you reach age 65 is your priority. On the other hand ability to minimize death tax at the death of the first spouse and the death of the second spouse and provide adequate liquidity for each of your estates are important factors you would like to plan and possible accomplish in the future.
After reading provided documents my goal is to determine your financial strengths and weaknesses and suggest different
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If the trust owns the policy the proceeds won’t be included in the insured’s gross estate.

Robert has disability insurance coverage provided by his employer but your employer does not provide disability insurance that is why you did very wise step by purchasing your own disability policy. Looking at you age and your health condition disability insurance is a good thing to have and reasoning is that if you or your husband becomes disabled, you can meet your obligations on 60 to 65% of what you currently make.
Your auto insurance is very good. The property damage coverage insures the resulting damage to the other party's vehicle. In this case it is $100,000. Your policy also include Uninsured motorist coverage which insures your resulting injuries should you be hit by someone who has no insurance coverage. Mentionable part of your auto insurance is Medical payment coverage providing additional medical assistance for emergency room visits, surgery and follow-up visits and Comprehensive coverage that covers your vehicle from fire, theft, acts of nature and acts of fowl.
It is very good they have an umbrella policy. Umbrella insurance refers to a liability insurance policy that protects the assets and future income of Robert and you. On the other hand policy can become the primary policy "on the risk" in certain situations. Typically, an umbrella policy is pure liability coverage over and above the coverage afforded by the

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