offered no objections to this arrangement. Thomas did not complete a client profile for Gertrude
since he was already fully aware of the family's and Gertrude’s situation. Gertrude collects a small amount from social security but must supplement that with the interest from her investment portfolio of $100,000. She indicated she would like to provide for her remaining life and establish education funds to send her six grandchildren to college. The grandchildren range in age from 2 - 15. According to the provisions of theCode and Standards, Thomas should take all the following actions before initiating any action on behalf of Gertrude, EXCEPT:All of the following statements concerning educational funding are correct EXCEPT:Beth saves $2,500 a year from age 25 until age 34 (inclusive) and invests the money in an account earning ten percent annually. Beth stops investing at age 34 but does not withdraw the accumulation until age 65. In contrast, Bill saves $2,500 a year from age 35 until age 65 inclusively and invests in a similar account to Beth, earning ten percent annually. Because Bill saved significantly more than Beth, he will have accumulated significantly more than her at age 65.Which of the following best describes when an individual is voluntarily unemployed because theyare seeking other job opportunities and they have not found the desired employment yet?Inflation refers to:Dennis and Rhonda are married with two boys, Blake and Chase. They have the following accounts with the following balances at their local bank: - Dennis (individual account): $300,000.- Rhonda (individual account): $100,000. - Dennis & Rhonda (joint account): $400,000. - Rhonda & Blake (joint account): $100,000. How much of all of their accounts will be insured by the FDIC?Which of the following debts are dischargeable in bankruptcy?Which of the following describes when inflation is continuing, but at a declining rate?