Problem:
Mr. and Mrs. Green have come to you for advice regarding their estate. They have several questions, which are listed below. They would like your advice regarding estate planning, including a will and/or a trust. Prepare answers to Mr. and Mrs. Green's questions below. Be as detailed as possible and use documented research to support your answers.
The Greens are buying an apartment building. They know nothing about landlord-tenant relationships. Advise them on what they need to know by evaluating the duties, responsibilities, and liabilities of landlords and tenants. Also, explain what type of insurance they need.
Should the Greens have life insurance? If so, what kind? What other types of insurance do you recommend for them personally and for their businesses?