Alan is a 70 year-old widower remarried to Beth his second wife who owns their house valued at £220,000. They have modest joint bank accounts and the only investment in his sole name is an Insurance Bond worth £100,000 where he is the sole life assured. Alan takes withdrawals from his Bond to top up his pension. On his death he wants to leave the proceeds from his Bond equally to Beth and his daughter Carol who will use the proceeds to reduce her mortgage. Other than the house, Beth has no significant assets in her own name.