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Wealth Plans Checklist

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Why Planning Matters

When you have a goal that takes several steps, resources, and a team of people to design and execute, the best action you can take is to create a formal plan so that you know where you’re going, how you will get there, who is needed or impacted, allocation of roles and responsibilities, and clarification of purpose, process, costs and benefits.  Written plans are highly recommended in situations when it will take many years to meet your wealth goals.  While we all know planning can be valuable, the act of planning is a daunting task (and in most cases expensive) so we continually put it off for another day and hope for the best, especially when the actual benefit derived – financial or otherwise – is not immediately realized because we live in a world where instant gratification has become the expectation and the norm. 

However, when we don’t make the commitment to plan, by the time we need it the most it’s far too late and the costs can be much higher and the impact to you and your loved ones more devastating.  What type of wealth plan may be prudent is largely dictated by your wealth life cycle, your specific family situation, and personal goals.  Therefore, while there are some plans everyone should consider to some degree, others are highly dependent on you, your family goals, and where you are in life.

Plans Checklist

Use the following as a checklist of plans to contemplate and assess whether your current situation may benefit:


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