Details of the Financial Plan
Each individual’s plan is unique. It may or may not include all the contents indicated below and may vary in subject matter. A financial plan may include collaboration with other professionals such as an estate planning attorney and accountant.
Income Tax and Cash Flow Planning
Current Income Tax Estimate
Projected Income Tax Estimate
Tax Planning Ideas
Personal Cash Flow Analysis
Current Annual Living Expense
Summary
Investment and Portfolio Planning
Current Balance Sheet
Asset Composition (Chart)
Analysis of Projected Returns
Individual Property Analysis
Investment Asset Reposition
Potential Sale and Purchase
Suggestions
Review of Debt
Retirement Planning
Management of Wealth
Capital Needs for Retirement
Estimate of Retirement Spending Needs
Estimate Savings to Meet Objectives
Retirement Suggestions
Dependent Funding
Estimate Cost for Dependent and Other Funding Needs
Savings Level Required to Meet Needs
Summary of Funding Alternatives
Estate Planning
Your Estate Planning Objectives
Review of Your Wills, Trusts and Other Documents
Estate Shrinkage
Estimate of Tax Liability
Insurance Planning
Capital Needs Analysis
Review of Your Insurance Portfolio and Costs
Disability Needs Analysis
Review of Major Medical and Long Term Care Insurance
ACTION SUMMARY
Decisions/Recommendations
Summary of recommendations made throughout your Financial Plan
Please Note: The scope of any financial planning and consulting services depends upon the terms of the engagement and the specific requests and needs of the client (financial planning is generally provided per the terms of a separate agreement and fee). Professional Planning does not serve as an attorney, accountant, or insurance agent. Professional Planning does not prepare legal documents or tax returns, nor does it sell insurance products. If the client desires, one of the Professional Planning's representatives, in their separate individual licensed capacities, can be engaged to provide insurance sales/services as described on Professional Planning's written disclosure Brochure, per the terms and conditions of separate engagement and fee.