Jordan and Ella, are a married couple and are reviewing their estate planning needs; Jordan is 68 and Ella is 67 and have supplied the following information:

• jointly own principal residence ($1,300,000) no debt.
• jointly own a car ($30,000), savings ($70,000) and home contents ($40,000).
• Jordan's allocated pension has $300,000 (tax-free $40,000, balance from a taxed source).
• Ella's allocated pension has $140,000 (tax-free $20,000, balance from a taxed source).
• They have two adult children, with one of them having marital difficulties.
• Want to leave estate equally between children.

QUESTION: 

1) Discuss the estate planning issues associated with this scenario.

Answer rating: 100% (QA)

There are several estate planning issues that Jordan and Ella should consider Estate Tax Planning De... View the full answer