Elijah Johnson, 48 and a widower, and Mila Turner, 44 and previously divorced, were married 5 years

Question:

Elijah Johnson, 48 and a widower, and Mila Turner, 44 and previously divorced, were married 5 years ago. There are children from their prior marriages, two children for Elijah and one child for Mila. The couple’s estate is valued at $1.7 million, including a house valued at $475,000, a vacation home at the beach, investments, antique furniture that has been in Mila’s family for many years, and jewelry belonging to Elijah’s first wife. Discuss how they could use trusts as part of their estate planning and suggest some other ideas for them to consider when preparing their wills and related documents.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Personal Financial Planning

ISBN: 9780357438480

15th Edition

Authors: Randy Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Question Posted: