Client Scenario 2-Role PlayAyub Khan (41) and Fatima Khan (41) are a married couple with two children; Salman 12 anddaughter Zeenat (8). Ayub is self-employed electrical contractor and earns $125,000 afterexpenses yearly. He has been running his business as a sole proprietor for over 10 years. He hasnot incorporated his business due to the hassle if additional regulatory requirements andexpenses involved. His business has really taken off during the last three years and he sometimesfeel the need to hire more employees to assist him.Fatima just completed her 18 years working as a Legal assistant at one of the leading Law firmand earns $65,000. The law firm provides her all benefit including a group life insurance plan for3 times her salary. She also has a defined contribution plan at work in which the firm matches adollar for a dollar to maximum contribution of $3,000 per year by the employer. She has beencontributing $200 every month ever since she joined, and the employer matches the sameamount. Her funds are invested in a Bond Fund and has a current value $83,000. She has anaccumulated contribution room of $62,000.They have a house in Mississauga in their joint names that they purchased 10 years earlier for$600,000 and is currently valued at about $900,000. They have been making extra payments totheir $250,000 mortgage and hope to pay it off in nine years. Fatima is always worried about themortgage and would like to be mortgage free as soon as possible. Fatima inherited a cottage fromher parents that is currently valued at $250,000 and is mortgage free. They spend about $6,000annually to carry the cottage in taxes and maintenance etc. They have so far been spending 4-5weekends every year at the cottage and enjoy their time. Ideally, Fatima would like their sonSalman to inherit the cottage and have been considering adding him as a joint owner. However,
