David is 18 years of age and has just started his first job. His employer is making
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David is 18 years of age and has just started his first job. His employer is making compulsory superannuation contributions for him and, as a member of the fund, he is automatically eligible for $100,000 of so-called 'group' life and total and permanent disability cover. David still lives at home with his parents and has a girlfriend of some two years and, according to your clients (his parents), they have recently been talking about marriage. Privately, the parents are concerned David's girlfriend could be pregnant.
Required:
- Does David need a will, mindful that, apart from his superannuation, he has no other assets?
- Why is it important to establish the competence of a client at the inception of an estate planning engagement?
Related Book For
Fundamentals of Corporate Finance
ISBN: 978-0077861629
8th edition
Authors: Richard Brealey, Stewart Myers, Alan Marcus
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