Disc 1 – Write a response of no more than 400 words to the hypothetical provided for this class.((Will upload hypothetical))
Disc 2 – Think about a crisis situation that you’ve had your professional life. Would you have approached it differently based on the information you’ve learned in your lectures and readings? Do you believe that people’s crisis reactions are based more on nature or nuture?
Disc 3 – An insurance broker who is a good referral source for you has a client who is buying a joint and survivor whole life insurance policy for $1,000,000. The broker has suggested to the clients that they establish an insurance trust and wants you to give his client advice on the proper way to structure the trust. An additional issue that came up in discussion was the client’s concern as to what can be done in the event both should pass away and the children are either minors or not yet ready to be able to handle a large amount of money. While his brother or sister can serve as successor trustees, they are concerned that someone is able to be a check on how the trust is being administered.
What is your advice on how the insurance trust should be structured?
3 Pg Paper – Please prepare a succinct letter to the Trustee of the estate and Revocable and Irrevocable trust (no more than 3 pages) of a decedent in what information is required in order to prepare Form 706 Estate Tax Return and additional relevant filings regarding basis.