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FAMILY FINANCIAL & ESTATE PLANNING
Financial planning is the process of systematically building & maintaining wealth
over time, in order to have income for life and leave the legacy you desire. Planners
identify an individuals financial goals and objectives and create a written financial
strategy for achieving them.
This process includes the following steps:
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 | Establish the client’s values, goals and expectations. |
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| Address and clarifying certain financial assumptions, such as inflation,
anticipated retirement age(s) and projected social security benefits. |
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| Review the client’s current financial condition, including the client’s
net worth, and developing a cash flow analysis. |
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| Examine the client’s current insurance benefits, both corporate and
individually provided, and the adequacy of those benefits. Benefits which need to be
examined include any government benefits as well as, life insurance, disability insurance,
health insurance, long term care insurance, and property and casualty insurance. |
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| Understand the client’s current income tax situation. |
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| Determine a client’s investment risk tolerance in order to be able to
recommend an appropriate asset allocation model. |
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| Identify a client’s current savings programs and the adequacy of these
savings programs in meeting the client’s financial goals, such as, retirement
funding, college education funding, home ownership(s), travel etc.. |
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| Review the client’s current estate planning situation in order to assist the
client in determining how to best meet one’s goals (including the special needs of
the family member), maximize his/her estate and perform efficient tax planning. |
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LIFE PLANNING INSTITUTE PROVIDES COMPREHENSIVE FINANCIAL PLANNING
SERVICES FOR OUR CLIENTS. |
