Chapter 12.5, Problem 3CQ

It's our last chance to peek into Tarek's financial planning as he prepares for his death. Now that Tarek is married, he wants to make sure that he and his wife have appropriate estate planning documents in place. Right now, neither Tarek nor his wife Samantha have drafted any legal documents. This is a worry for Tarek because he has several wishes he would like carried out should he die or become incapacitated. For example, if he were to die, he would like to be buried in his hometown, which is in another state. Also, if he were to be diagnosed as being in a prolonged vegetative state, he would prefer to be removed from all artificial lifesaving ­measures, except food and water. Additionally, he and Samantha are currently shopping for a new car for her. Tarek is thinking of selling his motorcycle, which is owned fee simple, and using the proceeds as a down payment for the new car. Tarek does not know how to title the new car. Instructions Please answer the following questions for…

Can you fix this for me ?

You have tickets to go to Jamaica over spring break. Just this week your best friend informs you that he (she) is getting married over spring break. Your friend would like you to stay back in the city and be the wedding attendant. The tickets to Jamaica are nonrefundable. Which of the following is a sunk cost relating to your decision of attending the wedding or going on the trip to Jamaica? The cost of the airline tickets to Jamaica The cost of wedding gift The cost of the clothing you will have to buy/rent to be in the wedding The cost of the rent on your apartment for the month

How would a renters insurance policy help protect your property? What do such policies cover? How much would it cost you to insure against the look loss of just your laptop or desktop computer?

Answer the following questions What do you think of Brad and Barbara’s seeking help for Brad’s parents? What prompted Richard to seek assistance? Was it only because of Brad and Barbara? What type of financial plan seems appropriate for Richard and Monica and why do you think Monica didn’t react more negatively to the financial news?

I only have one chance left...If someone could answer this I would really appreciate it!

How would I do this?

Maria has extra money, and she is planning to buy certain income-earning assets to help her earn more. However, she wants to make sure that when she needs the money she temporarily invested, she will be able to get a part or whole of it immediately. What would you advise Maria to invest on?

If Kevin works off the clock, then he will sacrifice family time and responsibilities. This is an example of what type of ethical reasoning?