Chelsea, a successful sports lawyer, participates in her employer-matched DC pension plan. She names her older brother
Question:
Chelsea, a successful sports lawyer, participates in her employer-matched DC pension plan. She names her older brother— also her executor— as sole beneficiary to her $643,071 account. He has a gambling problem and has admitted in the past that if he were to receive the inheritance, he'd "put it on red." She has been meaning to change her beneficiary, but has been busy with work. Sadly, Chelsea dies in a skydiving accident December 29th. As a Financial Planner, what is your most immediate concern?
1.
How much of the inheritance Chelsea's brother apply against his consumer proposal
2.
Whether or not Chelsea's brother has sufficient RRSP contribution room
3.
Sufficient estate liquidity
4.
Chelsea's brother squandering the inheritance
South-Western Federal Taxation 2018 Comprehensive
ISBN: 9781337386005
41st Edition
Authors: David M. Maloney, William H. Hoffman, Jr., William A. Raabe, James C. Young