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Planning For Wealth, Retirement and the Great Beyond - Case Study Example

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Planning For Wealth, Retirement and the Great Beyond

The case presented represents the family of a mature family. The priorities and needs of such a family have changed. This is evidenced by maturity of the children where two of them are in their twenties and have already been employed and the last one is in adolescent, due to Finish University in three years. The issue of guardian ship is not there. This stage is also marked by peak earnings years and accumulation of many considerable assets. This part requires assessing of the financial status, the personal and life goals and needs and also assessing the priorities of life now.
This report makes a conclusion that life on earth is not guaranteed. Therefore, once one has died, there is the need for the estate to be managed and the property taken care of. This is the sole purpose of the will. The checklist needed in ascertaining a will includes preparation and signing of the power of attorney for the financial affairs and running of the real estate. According to Gray& budd one needs to ascertain whether the will and the power of attorney are up to date. One needs to take steps to ensure protection of the assets bought in the relationship. The will also entails naming the beneficiaries and the alternate beneficiaries of the registered retirement savings pan, the life insurance policies, the pension plans and RRIFs. These should always be up to date. The will also entails the backup executor and the back up power of attorney. All the dependants should be well provided for. ...Show more


The paper will also include the budgeting needed for retirement. This will cover the expenses and income after retirement and the plans after retirement. The last part of the paper will involve setting up a will for the owners of the real estate…
Author : michel66
Planning For Wealth, Retirement and the Great Beyond essay example
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