The estate plan is intended to reduce the amount of both federal and state tax payable on the gross estate of the clients. The estate plan seeks to develop efficient gifting plans by the clients to specific beneficiaries and effectively reduce the amount of tax that is payable from the gifting plans to the minimum. The estate plan should enable Rich distribute his estate to all his beneficiaries without any conflict of interest arising from the remarriage of his wife after his death.
The estate plan seeks to revise the client’s will to be more effective and ...
Beneficiary Case Studies Samples For Students
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Though Sam and Gladys are not parties to the mortgage contract and could therefore be barred by the laws governing the privity of contracts, they have a few options to pursue. The mortgage note was signed by Sam’s father and it is provided that he has been making periodic payments towards the same. This means that he is the one entitled in law to institute legal proceedings in this contract. Sam and Gladys were named in the mortgage note as the intended beneficiaries as opposed to incidental beneficiaries. This is because they immediately occupied the house and started living ...
Q1 (a) Cash Flow Statement for the period 1 Jan 2015 to 31 December 2015
The missing/modified figures (as shown in yellow in the cash flow statement) are calculated as follows:
Employment income,
Keaton,
Given,
Gross Salary and Bonus= $120,000.00
Alyssa,
Given total salary and bonus=$64,800
Half paid in Aus and half in Singapore,
Thus her Salary and bonus paid in Singapore=$32,400
Employer’s CPF contribution,
Keaton- 37 % of 120,000=$44400
Alyssa- 20% of $32,400=$6480
Dividend and rental income
Dividend – Keaton-No dividend in 2015
Alyssa, $689 in 2015
Rental income
Keaton and Alyssa combined rental income for property in Singapore registered under joint tenancy agreement is $3,050 per month or $36600 for the year.
The portion of CPF and cash used for the housing installment is as mentioned below.
Total housing installment =$4099
Keaton:
Total monthly income=$10, ...