Limited Statement of Advice for Desklib Clients

Running head: LIMITED STATEMENT OF ADVICE
Limited Statement of Advice
Name of the Student:
Name of the University:
Author’s Note:

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LIMITED STATEMENT OF ADVICE
Executive Summary
This section of the paper would be giving out to the client an overview of their present
situation, the objectives they want to attain, the strategies that would be recommended to them in
order to attain their goals and objectives and the end result the clients may be anticipating after
the incorporation of these strategies.
It is essential for the client to understand the executive summary and thereby understand
the recommendations that are being given along with the justified reasons with the help of which
they would be able to understand whether the objectives can be attained with the help of these
strategies. There needs to adequate information in order to permit the client to make a decision
with respect to the risk that are available and the fees that are related to the advice. All the
headings will be written in ambiguous and clear language and would be ideal with respect to the
financial understanding of the clients.
Current position
The present scenario of the clients require extensive understanding because of the fact
that there are several individuals who are related to this financial advice and accordingly specific
advises would be given to every member of David and Eloise’s family.
David and Eloise
They have been married six years after the demise of their respective spouses and
currently have four children two from the side of David and his first wife and two from the side
of Eloise and her first husband. Eloise’s mother and aunt has two properties each received from
their side of the father and the mother and it is seen that after the death of Eloise’s aunt, her son

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LIMITED STATEMENT OF ADVICE
want to sell off the house in which Eloise’s aunt used to live in order to relieve his part of the
share of the properties. The problem is sorted when the both the properties are divided equally
and the share of money received by Eloise’s mother on the equal distribution of the properties
would be given to Eloise as she is her only child. The couple is even concerned about the bad
relationships Bill and Hamish have and the bad relationship that is present between Bill and one
of his sons Barney. The couple even wants to ensure that they are able to sponsor the education
of their grandchildren even after they retire and therefore require additional money for the same.
The couple even wants to make sure that they have adequate money with the help of which they
can spend their retired in the way they have been living in the current time period. David’s
family has a history of having dementia and therefore prior steps are required by the couple as
well. On the other hand, Eloise is worried that after her death someone else may come to David’s
life and they take up all the inheritance of their children.
Bill and Gertrude Cooper
They are a married happy couple and have three children. They are facing the issue that
Penny their daughter has a twin and the twins have serious issues regarding their health as they
have been going through a brain damage. The couple wants to give most of their properties to
Penny as she has issues with her brothers Maddie and Barney. Barney has joined a religious
group and the couple are concerned that he may have joined a terrorist group and therefore does
not wish to give him anything out of their property. Maddie does not keep in touch with Bill and
Gertrude and sends cards over during the time of Christmas and birthdays. Bill is concerned that
he may be sued as he is a partner of the accounting firm if the employees are negligent. Hence,
all the assets are named under Gertrude and the family trust of Bill.

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LIMITED STATEMENT OF ADVICE
Carmel Hudson Cooper
Carmel is a 19 year old girl, who going through her university days. She has a future plan
of doing her master’s degree and thereafter go ahead with PhD. She is dependent on David and
Eloise and does not have any assets of her own. She is not ready to get married recently.
Hamish Cooper
He has been married twice and in the current time period is separated from his second
wife. He has six children from the two wives. The issues that he faces is that he is in the idea of
getting married again however, he has to pay for the educational expenses of his youngest
children and needs to pay a part of his asset to Amee if he is to get a divorce from her in order to
get remarried.
Peter and Sophie Hudson
The house where they reside has been purchased from the insurance proceeds that is
received by Sophie after the death of her previous husband. She wants the benefits she has
received to be transferred to her elder son Patrick. Peter on the other hand wants to ensure that
Sophie and his children would have adequate money to meet their future expenses if he expires
suddenly as he has been diagnosed with Parkinson’s disease. Sophie is even entitled to receive
the Centrelink Pension benefits from her aunt Maude who does not have children and Sophie is
her favourite niece. Sophie would also be receiving a large terrace in Paddington that is owned
by Aunt Maude.