Financial Planning Checklist
- Nov 12, 2015
- 1 min read
1. Do you and your spouse have a valid up to date will?
2. Does your will (and your spouse’s will) appoint a
guardian for you minor children?
3. Are you comfortable with the executors and trustees
you have selected?
4. Have you created a trust in your will (a testamentary trust)?
5. Are all your children treated equitably, not necessarily
equally, in your plan?
6. Will your wife, children and parents have income
independently of each other?
7. Who will own your house if your wife, children
and parents all live together?
8. Have you considered a living trust?
9. Have you transferred you important assets into
the name of a living trust?
10. Are you taking advantage of the surviving spouse
deduction – Sec 4(q)?
11. Are both estate plans designed to take advantage of
the R3 500 000 exemption?
12. Are you both taking advantage of R100 000 annual
Donation Tax exemption?
13. If you have partners in the business, do you have
a buy-and-sell agreement?
14. Will there be enough cash in each estate, if either you
or your spouse dies?
15. Do you have income producing assets to maintain family’s
standard of living?
16.Are the beneficiaries on your life insurance consistent
with you estate plan?
17. Does your estate plan have inflation and standard of
living provisions?
18. Do you have a current list of important personal papers
and their locations?
19. Do you require assistance in organising your estate plan?
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