INFORMATION

Planning Topics

SHOULD YOU ENGAGE OUR SERVICES?

What We Offer:

  • Objective Planning Services with a comprehensive approach to your financial needs
  • And should you choose to implement our financial planning advice, we offer various financial products including Investments and Insurance.

Our Philosophy:

  • Develop a long-term relationship with strict confidentiality that is focused on meeting your needs first
  • Coordinate with your current advisors to create a team of experts working on your behalf
  • Educate you as to your alternatives so you may make your own decisions
  • Develop a resource center to provide up-to-date information for your particular situation
  • Action orientation

Our Clientele:

  • Successful professionals and business owners who have not had the time, expertise, or inclination to manage their finances as professionally as they manage their businesses or professional lives
  • People who are experiencing a gap among the services offered by traditional advisors (accountant, attorney, stockbroker, insurance agent) – i.e. no one else is doing the job for you
  • Your finances are complex enough to require sophisticated financial strategies and coordination
  • Those who would like help to develop an intelligent strategic plan that includes:
    • Potentially maximize return from income and investments while avoiding unnecessary taxes
    • Specific objectives: retirement income, children’s education, etc.
    • Crossroads: change of circumstances (retirement, recipients of significant inheritance, gift or sale proceeds)
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BUSINESS SUCCESSION PLANNING
  • Analyze present succession plan.
  • Determine the effectiveness of your present plan and recommend changes as needed.
  • Coordinate this plan with your estate arrangement.
  • Make a preliminary determination of the reasonableness of existing estimates of the value of your business. (Value to be based upon accountant’s value, outside evaluation or your estimate.)
  • Illustrate the economics of the several alternatives available to fund business agreements.
  • Discuss methods to help minimize the tax liabilities incurred in business transfer transactions.
  • Examination of intra-family issues with regard to business transition.
COMPREHENSIVE FINANCIAL PLANNING

Planning for your financial success may seem complicated in today’s world. A broad knowledge of everything, from complex investment products to elaborate tax laws, is required.

As the scope of financial services grows, so does the need for professionals to provide these services. That’s why we approach your financial planning needs with a team of specialists. It’s the key to our success, and yours.
Professionals in a variety of financial planning disciplines combine their   knowledge and experience, using sophisticated support systems, to determine the right financial strategy for your individual needs.

We are dedicated to helping you:

  • Identify your goals.
  • Develop a financial plan based on sound advice and knowledge.
  • Implement the plan.
  • Monitor the plan.

In addition, we can provide you with the products and services necessary to develop and implement your financial plan.
Throughout this process, we never lose sight of one essential element, personal service.

Financial Planning Services

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DOCUMENT CHECKLIST

PERSONAL DOCUMENTS

  • Wills
  • Trust Agreements
  • Financial Statements
  • Mortgage Notes, Schedules and Current Statement
  • Investment Portfolio / Statements, Including Cost Basis
  • Tax Advantage Investments –
  • Projections including Investments, Cash Flow, Write Offs
  • Life Insurance Policies
    • – Annual Premium Notice
    • – Policy Illustration
  • Disability Income Insurance Policies
  • Income Tax Returns – 3 Years, including Form K-1
  • Gift Tax Returns
  • Partnership or Investment Agreements
  • Most Recent Paycheck Stubs
  • Total Personal Annual Expenditures

BUSINESS DOCUMENTS

  • Balance Sheets – 3 Years
  • P & L Statements – 3 Years
  • Corporate Tax Returns – 3 Years
  • Business Life Insurance Policies
    • – Annual Premium Notice
    • – Policy Illustration
  • Business Continuation Agreements
  • Deferred Comp. Agreements
  • Corporate Minutes
  • Real Estate or Equipment Leases (related party)
  • Qualified Plan Documents
    • – Annual Benefit
    • – Summary Plan
    • – Form 5500C
    • – Schedule of Plan Assets
  • Employee Census
    • – Date Employed
    • – Date of Birth
    • – Total Annual Compensation
  • Additional Employee Benefits
    • – Group Life / Disability Insurance
ESTATE PLANNING

Distribution Planning:

  • Analyze present estate distribution plan.  Determine the effectiveness of your present plan and recommend changes as needed.  Coordinate with your business succession plan.
  • Discuss asset management assistance needs for your family and illustrate how management flexibility can be accomplished.
  • Illustrate options to equalize asset distribution among children not involved in a business.
  • Explore planned charitable and non-charitable giving techniques as methods of estate conservation and distribution.
  • Review existing life insurance contracts. Focus on ownership and beneficiary designation of contracts.  Evaluate the cost/benefit relationship of your existing contracts.
  • Evaluate the sources of income for your survivors to assure that adequate income is available.

Tax Planning:

  • Illustrate alternatives that would help reduce or eliminate estate taxes.
  • Discuss methods to help minimize estate taxes in the future through use of estate freeze and reduction techniques.
  • Determine whether current life insurance will avoid estate taxation.
  • Illustrate the economics of the several options available to pay estate taxes.
  • Establish procedures to help reduce administrative costs of estate settlement.
  • Discuss coordination of annual exclusion and unified credit gifting programs.
FINANCIAL PLANNING PROCESS

This is a general outline of our process.  Since all client planning needs are treated as unique, this process is custom designed in each particular situation to create specific solutions for each client.

INITIAL MEETING

  • Discuss our services
  • Discuss your situation

DATA GATHERING

  • Gather appropriate financial data, objectives, and risk tolerances
  • Discuss and establish goals
  • Identify concerns and constraints

PLAN DESIGN

  • Analyze and evaluate your financial status, review your goals and objectives
  • Generate plan draft with observations and recommendations
INVESTMENT PLANNING
  • Evaluate current investment strategy in relation to your objectives and personal risk tolerance.
  • Recommend reallocation of monies as needed.
  • Identify and discuss alternatives to reduce income tax liabilities as they relate to your investments.
  • Develop a personal cash flow statement to anticipate future cash flow needs and identify the capacity for future wealth accumulation.
  • Assist in developing a comprehensive asset allocation and marketplace diversification strategy that is tailored to your specific objectives.
  • Establish a management policy for the implementation of your investment strategy.
  • Ensure coordination of your investment plan with the remainder of your financial planning.
RETIREMENT INCOME PLANNING
  • Analyze your present retirement plans, including company sponsored profit sharing, 401(k) and pension plans or self-employed arrangements and how they meet your projected retirement needs.
  • Determine whether your projected resources will be sufficient to fund the desired level of retirement.
  • Identify additional retirement planning opportunities and strategies where appropriate.
  • Evaluate whether or not the taxes on qualified plan distributions may be an issue.
  • Determine whether or not your retirement objectives are attainable in the event of a long-term care or disability situation.
SERVICES COVERD BY ENGAGEMENT
  • Financial Data Analysis
  • Staff Research
  • Design Time
  • Written Programs and Outlines
  • Presentation Meetings
  • Phone Calls
  • Interaction with Your Other Advisors
  • Coordination of Services Provided by Other Advisors
  • Financial Modeling
  • Written Financial Plan Document
  • Implementation Assistance
  • Review of Property and Casualty Coverage
SERVICES NOT COVERED BY ENGAGEMENT

To avoid misunderstanding, we want you to be aware that certain services are not provided by our agreement. These include:

  • Drafting of Legal Documents and Other Legal Services
  • Tax Preparation, Statement Preparation or Other Accounting Services
  • Asset Appraisal Work
  • Business Valuation Services