Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. as his attorney, your client, emie entrepreneur, n

As his attorney, your client, Emie Entrepreneur, now seeks your advice on estate planning Emie...

90.2K

Verified Solution

Question

Accounting

image
As his attorney, your client, Emie Entrepreneur, now seeks your advice on estate planning Emie has been operating his business successfully now for about two years, and is concerned as to what will happen to the business and to his personal assets were he to die Ernie has a spouse and a one year old son, Emnie Jr. If Ernie, Sr., were to die, can he provide continuation of the business for the benefit of his workers, etc.? Would his spouse and son be provided for from the business? What about the business loans? Who would have to pay them? What if both Emie and his spouse die simultaneously, leaving their minor son? Who would be legally responsible and provide for him? Please advise your client 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 client to properly advise him? Please submit to Professor Beier by the due date, your recommendation for your client, Ernie Entrepreneur. Be Complete

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students