LAW OF COMMERCIAL TRANSACTIONS Professor: Lois Yoder Beier Project 3: Wills, Trusts, and Estates and Investment...

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LAW OF COMMERCIAL TRANSACTIONS Professor: Lois Yoder Beier Project 3: Wills, Trusts, and Estates and Investment Law. As their attorney, your clients. Frugal Fred and Barney Bizarre, now seek your advice on financial planning and estate planning. Fred and Barney have been operating their business successfully now for about two years and are concerned as to what type of investments they can utilize to maximize the business' assets as well as their own individual portfolios. They are interested in the legal aspects of financial planning and learning about the legal aspects of various investments. Please advise them as to the following: 1. What are bonds-both governmental and corporate? 2. What is stock? 3. What are mutual funds? 4. What are exchange traded funds? 5. What additional information can you provide regarding investment risk and financial planning considerations? Additionally, Fred and Barney are concerned as to what will happen to the business and to their personal assets were either or both of them to die. They are interested in the legal considerations in developing an estate plan for each of them. Frugal Fred is single with no children, but Barney Bizarre has a spouse, Betty, and a one-year old son, Barney, Jr., (nicknamed BamBam). If either Fred or Barney were to die, who would get their ownership share of the business-the other surviving owner or the deceased owner's family? How can they plan for this? What are their estate planning choices? What if both Fred and Barney were to die? Can they provide for the continuation of the business for the benefit of their workers, etc.? Would their families be provided for from the business? What about the business loans? Who would have to pay them? What if both Barney Bizarre and his spouse die simultaneously, leaving their minor son? Who would be legally responsible and provide for him and how? How can Fred and Barney plan for any or all of these events? Please advise your clients as to the following 1. Wills 2. Trusts 3. Powers of Attorney 4. Administration of Estates 5. Business succession options What additional information would you need from your clients to properly advise them? Please submit to Professor Beier by the due date, a final copy of your recommendation for clients, Frugal Fred and Barney Bizarre. Be Complete!!!! your LAW OF COMMERCIAL TRANSACTIONS Professor: Lois Yoder Beier Project 3: Wills, Trusts, and Estates and Investment Law. As their attorney, your clients. Frugal Fred and Barney Bizarre, now seek your advice on financial planning and estate planning. Fred and Barney have been operating their business successfully now for about two years and are concerned as to what type of investments they can utilize to maximize the business' assets as well as their own individual portfolios. They are interested in the legal aspects of financial planning and learning about the legal aspects of various investments. Please advise them as to the following: 1. What are bonds-both governmental and corporate? 2. What is stock? 3. What are mutual funds? 4. What are exchange traded funds? 5. What additional information can you provide regarding investment risk and financial planning considerations? Additionally, Fred and Barney are concerned as to what will happen to the business and to their personal assets were either or both of them to die. They are interested in the legal considerations in developing an estate plan for each of them. Frugal Fred is single with no children, but Barney Bizarre has a spouse, Betty, and a one-year old son, Barney, Jr., (nicknamed BamBam). If either Fred or Barney were to die, who would get their ownership share of the business-the other surviving owner or the deceased owner's family? How can they plan for this? What are their estate planning choices? What if both Fred and Barney were to die? Can they provide for the continuation of the business for the benefit of their workers, etc.? Would their families be provided for from the business? What about the business loans? Who would have to pay them? What if both Barney Bizarre and his spouse die simultaneously, leaving their minor son? Who would be legally responsible and provide for him and how? How can Fred and Barney plan for any or all of these events? Please advise your clients as to the following 1. Wills 2. Trusts 3. Powers of Attorney 4. Administration of Estates 5. Business succession options What additional information would you need from your clients to properly advise them? Please submit to Professor Beier by the due date, a final copy of your recommendation for clients, Frugal Fred and Barney Bizarre. Be Complete!!!! your