Use the following checklist to help you to accumulate the data you need to start your personal financial plan. 

Accumulate the following documents

• Income tax returns for the last three years (unless we prepare them for you)
• Please provide the last three pay stubs for you and your spouse
• Gift tax returns
• Annual reports, tax returns, and other agreements regarding ownership in closely-held corporations, partnerships, joint ventures or other business
• Information pertaining to investment ventures, partnerships, joint ventures,
• Brokerage account statements
• Mutual fund statements
• CD's or Money Market or other savings account statements.
• Any retirement plan statements – IRA's, 401(k), 403(b), Company retirement or savings plan of any kind.
• Divorce settlements, separation agreements, nuptial agreements, birth certificates and adoption decrees
• Estate tax returns if you have been the beneficiary of any estates
• Documents pertaining to employee benefit plans (including stock option programs, thrift plans, hospitalization, disability insurance, and so forth)   If your employer provides an employee benefits handbook or other document, please provide it
• Life insurance policies or a summary of policies owned
• Disability insurance policies
• Current insurance offers
• Current investment offers
• Most recent credit card statements (if you carry a balance)
• Home Mortgage (please provide the last three monthly mortgage statements as well as:  Original amount of the note from the last refinance $_______   Date of refinance __________               Term of loan ______years  Monthly payment $________principal & interest

• Home Equity Line (please provide the last three monthly statements) as well as   Original balance $_________   Current balance   $_________   Interest rate %_________

• Notes and other debts you owe: Documents from original loan As well as current terms and balance

• Debts owed to you Documents from original loan As well as current terms and balance

• Summaries of any previous financial objectives or plans that have been prepared for you.

Now, here are some questions you'll want to ask yourself about the various areas that you'll need to consider in your financial plan:

General

What experience have you had with financial planning?

What would you like to gain from a financial planning engagement?

What do you feel is your most important non-financial goal?

What is your most important financial goal?

What does financial security mean to you?

What are your three greatest financial concerns?

          1)

          2)

          3)

How do you feel about your career?   Is a job change in your future?

Is your present standard of living adequate? If not, what would you like to change?

Would you like to spend more money now on activities or purchases than you currently do?   If so, please describe and provide an estimated cost.   (change of residence, new auto, vacation home, more travel)

What additional savings goals would you like to provide for?   (Weddings, Bar or Bat-Mitzvah)

How much of your current income do you allocate to savings?

Are you satisfied with your investment portfolio – why or why not?

Are you satisfied with your personal record-keeping system?       

Do you have a safe deposit box for storage of valuable papers or possessions?

Do you periodically prepare a household budget that lists expected income and expenses?           

Do your children have any special support needs, such as private school, special lessons, and medical problems?   If so, please describe.

Might there be a need for you to assist your parents with financial obligations?

Do you expect to receive any inheritances or gifts?   If so please describe, and indicate if like these amounts considered in your financial plan?

Retirement planning

At what age would you like to retire?

What do you foresee yourself doing during retirement?

Have you considered alternate places for living when you retire?              

What current expenses do you have now that you'd eliminate during retirement?

What additional expenses would you like to have during retirement?   (travel, vacation home, boat, etc)

Estate planning

Do you have a will?   If so, when was it last reviewed?

Does your current estate plane properly reflect your wishes for the disposition of your assets upon your death?   Please describe those wishes.

How recently have you reviewed contracts and other documents naming beneficiaries to ensure they reflect your current wishes?

Have you appointed a financial guardian for your children?

Have you decided how your personal property will go to your heirs?

Have you discussed the contents and whereabouts of your will with your immediate family?

Do you feel any need to provide independent management for your assetsleft to your heirs?   If so, to what degree and for how long?

Do you have a health care proxy? If so, have you discussed your wishes

with the members of your immediate family?

Do you have power of attorney?

Do you have instructions to your family about insurance policies, investments, and funeral preferences?   Does your family know where they are?

Have you prepared a written memo of how you'd like your personal property to be  passed on   to your heirs?   Have you discussed its contents with all who are involved?

Insurance needs

How do feel about long-term nursing care insurance?   What other plans have you made for long-term care?

How long has it been since you reviewed your casualty insurance coverage – that is homeowners, auto, and personal umbrella?   Are all your valuables separately covered as needed?              

Do you maintain an adequate inventory of household items should you need it in the event of theft of fire?   (videos or pictures may help here – consultyour insurance agent)

Is your life insurance coverage adequate to provide for your spouse and children?  When was your coverage last reviewed?

How much do you feel would be necessary to care for your family?

Would you like help answering this question?

Do you have enough disability insurance ?

When was your coverage last reviewed?

Do you have adequate health insurance ?

Responsibility for others

Does anyone other than your children depend financially on you or your spouse?  (Parents? Grandchildren?)

If yes, provide name(s) and relationship(s)and the amount of support you provide:

Do any members of your family have significant health problems?            

Do you anticipate the need to   provide financial support for others?   If so, please describe: