Integrated Case Project
\nThis project ( help with nursing paper writing from experts with MSN & DNP degrees) will test your knowledge in the areas of insurance, retirement plans and estate planning.
\nPlease use what we\u2019ve discussed during the semester to formulate your answers. Here are the facts of
\nthe case. At a minimum, please answer the questions found at the end of the case. If you\u2019d like to
\nexpand your answers with additional project ( help with nursing paper writing from experts with MSN & DNP degrees)ions or recommendations, feel free to do so. The case
\ncounts for 15 points of your final grade.
\nThere is no minimum or maximum in terms of pages to complete this exercise. Again, you answer the
\nbelow questions, great. You expand and want to add more recommendations, great. Some
\nrecommendations you may want to make may require additional information. State what you would
\nrecommend and what you would need to know to accurately recommend it.
\n\u2022 Wanda and Bill Murry have come to you seeking professional financial advice.
\n\u2022 They are married with twins
\no The twins are both 12 years of age.
\no Wanda is 48 years old.
\no Bill is 49.
\n\u2022 Wanda is a physician with her own practice.
\no She has 5 other employees that work for her, all of whom are either Helpants, nurses
\nor admin.
\no The business revenues are $2,000,000.
\no She pays herself a salary of $750,000.
\no The business has a profit at the end of the year of $500,000.
\no She has never installed a retirement plan for her employees.
\n\u2022 Bill is an engineer and works for an engineering company that he does not own.
\no His gross salary is $200,000.
\no His employer has a 401(k) plan plus profit sharing.
\n\uf0a7 The 401(k) plan has both a before tax contribution option as well as a Roth
\n401(k) contribution option.
\n\uf0a7 He contributes 10% of his gross salary to the before tax option of the 401(k)
\nplan.
\n\uf0a7 His employer matches him with 5% of his pay
\n\uf0a7 Profit sharing contributions paid by his employer add an additional $20,000 to
\nhis 401(k) plan.
\n\uf0a7 His current balance in the plan is $3,000,000.
\n\u2022 Cash Flow and taxes
\no Given their incomes, they pay a significant amount of federal taxes each year (ignore
\nstate taxes for this exercise)
\n\uf0a7 Federal tax = $475,000
\n\uf0a7 They have no significant deductions against their income due to having paid off
\ntheir house
\no Each year, after paying all their bills and putting money aside for the children\u2019s
\nestimated college costs, they have extra cash flow.
\n\uf0a7 Their extra cash flow is $500,000 a year
\n\u2022 They invest in a brokerage account just in Bill\u2019s name
\n\u2022 The account is currently worth $10,000,000
\n\u2022 Balance Sheet as of today:
\nAssets
\nCash\/checking $ 2,000,000 in joint name
\nBrokerage account $10,000,000 in Bill\u2019s name
\nBill\u2019s 401(k) $ 3,000,000 in Bill\u2019s name
\nEducation accounts $ 500,000 in Wanda\u2019s name
\nHouse $ 5,000,000 in both names
\nBeach house $ 3,000,000 in Bill\u2019s name in South Carolina (they
\nlive in a northern state \u2013 doesn\u2019t matter where for this case)
\nTerm Insurance As described below
\nLiabilities \u2013 none at this time, they have paid up all their debts
\n\u2022 Insurances
\no Wanda has $1,000,000 group term insurance thru her job
\no Bill has $1,000,000 group term insurance thru his job
\no Each of the group insurances name the other spouse as primary beneficiary, there is no
\nnamed contingent beneficiary
\n\u2022 They have not completed any estate planning documents
\nGiven the above facts and focusing on insurance, retirement plans (and their tax implications) and estate
\nplan issues, answer, at a very minimum, the following questions. Please be as detailed as possible with
\nyour answers. For example, just saying \u201cthey need a will\u201d is not enough. Describe what happens if one
\nor both die today without a will, what components should they include in the will to assure their assets
\npass on to the other probate free? What about the kids? What should the will address about the kids?
\nThis is just one example to get you started. We have discussed all facets of what you could and should
\nconsider for this client throughout the semester. Even if you don\u2019t plan to be an advisor, you could very
\nwell find yourself in this situation, personally, so what would you want to accomplish through planning,
\neither on your own or with an advisor\/other professionals?
\nQuestions:
\n1) Do you feel they have enough life insurance?
\na. If so, why?
\nb. If not, how much should they have and why?
\nc. What are the impacts of their current beneficiary designations on their insurance?
\nd. If you suggest additional insurance, how should it be owned?
\ni. Who should beneficiaries be?
\nii. What about contingent beneficiaries?
\ne. What type of insurance would you suggest?
\ni. What are the pros and cons of each?
\nii. If you suggest permanent, what type and why?
\nf. What are the impacts of the insurance on their estate?
\n2) Is there any other type of insurance you would suggest to protect themselves (besides auto and
\nhouse insurance, or malpractice insurance for Wanda)?
\n3) What would you recommend for Wanda as far as retirement plans?
\na. What impact will the retirement plan you suggest have on her future?
\nb. What impact will the retirement plan you suggest have on her taxes today or tomorrow,
\ndepending on the type of plan you suggest?
\nc. What impact will the plan you suggest have on her business and employees?
\n4) What do you recommend for Bill\u2019s retirement plan?
\na. What are the differences between a pre-tax contribution to his plan and a Roth 401(k)
\ncontribution?
\nb. What about beneficiaries of his current 401(k) plan?
\ni. The facts don\u2019t mention anything, but what would you recommend?
\nii. Based on what you recommend above, what would happen to the 401(k) plan if
\nhe died before retirement?
\n1. Who would it go to?
\n2. What are the tax implications?
\n5) What do you recommend regarding estate planning?
\na. What would happen today if one or both died?
\ni. What would be probated assets?
\nii. What would happen to the children?
\nb. Assume the following:
\ni. Cash assets continue to grow at 1% rate of return plus what they are adding to
\ntheir cash assets
\nii. Brokerage account grows at 9% rate of return
\niii. 401(k) grows at 9% rate of return
\niv. House values grow at 4% rate of return
\nv. Education accounts are spent to pay for college
\nvi. They have purchased the life insurance you recommended above (if any) and
\nbased on how you suggested they own it, they still have it
\nvii. They both die in a car accident in 15 years
\nc. What would be the value of their estate based on the above assumptions and assuming
\nthe same estate tax thresholds as today (2022), what would the estate tax liability be
\nassuming they did no current estate planning?<\/p>\n
—–<\/p>\n
Integrated Case Study
\nThis project ( help with nursing paper writing from experts with MSN & DNP degrees) will put your insurance, retirement, and estate planning skills to the test.<\/p>\n
Please base your responses on what we’ve discussed during the semester. The following are the facts:<\/p>\n
the situation Please, at the very least, respond to the questions at the end of the case. If you’d like to, you can<\/p>\n
Feel free to elaborate on your answers with further estimates or recommendations. The situation<\/p>\n
15 points are deducted from your final grade.<\/p>\n
There is no set number of pages required to finish this exercise. You respond to the question once more.<\/p>\n
Great answers to the questions below. You’ve grown and want to add more recommendations, which is fantastic. Some<\/p>\n
recommendations you may want to make may require additional information. State what you would<\/p>\n
recommend<\/p>\n","protected":false},"excerpt":{"rendered":"
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