JTK Financial Services - Finance Assignment Help

Assignment Task

To: JTK Financial Services

Fm: Claire Reagan

Date: 4th September, 2021

Re: Request for Additional Information

In response to your questionnaire, I provide the following additional information: -

My health is reasonably good. However, as a teacher, I am often standing for long periods of time which has caused some deterioration in my knees and doctors have suggested I may require surgery in about 5 years’ time. As for my family medical history, my mother died from breast cancer but my father is still alive. His family tend to live until at least 85 years of age. So, I am expecting to live to age 85 as well.

In the event of my death, I would want any life insurance I have to provide for funeral expenses of $10,000 and final costs, such as legal and/or medical of $20,000. Other provision would be $25,000 to go to Hannah’s guardian for emergency expenses, the education monies spoken of in our meeting and replacement of after-tax income of $20,000 pa. The replacement of income, I envisage would go into a trust and be available as my legacy for Hannah to be managed by her guardian.

Hannah should be the beneficiary of my estate including superannuation funds, insurance and my chattels. I would be happy to receive advice on the different estate planning matters I should be thinking about.

If I were to become permanently disabled, I would like to be able to pay out any debts so as to concentrate on rehabilitation. I believe I need to think about provision for cash reserves of $25,000 being for about 4 months of income; funds to go towards modification of a dwelling estimated at $80,000 and ongoing medical costs of $40,000 pa.

As stated in the interview I have some sick leave, but without my total current income it would be difficult to manage financially. Related to my income, my training is as an art teacher. I am Degree qualified teacher. I don’t really have the skills to do any other type of job.

With regards to being in a crisis or traumatic event, I believe medical and rehabilitation could be quite expensive. So, I would consider that even though I have hospital cover, at least $145,000 as a lump sum would be essential and cash reserves as with my estimate for permanent disability.

I have no home and contents insurance – I’ve been meaning to sort that out. I realise I have quite a few things I should have covered like, jewellery and antiques [estimated value of $20,000]; laptop computer and software [value $4,000]; furniture and whitegoods [value $30,000]; art materials [value $5,000]. Without those items were stolen or damaged, it would be difficult to recover.

As part of my preparation for travelling to Paris, there will need to be some consideration for traveling overseas.

This Finance Assignment has been solved by our Finance experts at My Uni Paper. Our Assignment Writing Experts are efficient to provide a fresh solution to this question. We are serving more than 10000+ Students in Australia, UK & US by helping them to score HD in their academics. Our Experts are well trained to follow all marking rubrics & referencing style.