Step 4 – Financial Information

Life Plan Builder Step 4 – Financial Information

Put the puzzle pieces togetherThe Financial Information section of your Life Binder serves to piece together the financial puzzle of your life.  First, it organizes your finances into a single, easy-to-determine value.  Next, it helps provide a clear picture of the future finances of your Special Needs individual – how much money is available and how much will be required to take care of your loved one for their lifetime (a properly funded Special Needs Trust). Finally, it nicely collects all the pertinent information your Personal Financial Advisor will need to provide a comprehensive review of your finances.

Follow this checklist to complete Step 4

  • Print the Step 4 Cover Sheet for your binder
  • Download the comprehensive form Financial Information.
    1. Option 1 – Open the Financial Information Adobe PDF version, print, and fill in the blanks with a pen.
    2. Option 2 – Open the Financial Information Microsoft Word DOC version, save it to your computer, and then print out a copy for your binder when completed.
  • Download the Examples. Check out these two examples before you get started on your own form.  The first example – Financial Info – Example A – is a family that has great resources and has accumulated adequate funding (including life insurance) for their Special Needs loved one in the future.  Additionally, this example family has created Revocable Living Trusts that own a portion of their assets.  The second example – Financial Info – Example B – however, is an example family that needs to come up with a game plan due to a shortfall in funding.  If your family is in a similar situation, we would like to help.  We have some great solutions to help you come up with the shortfall, so please get in touch with a Golden Financial Services Advisor today.
  • Follow the Instructions for the Financial Information Form.
    1. Complete Step 1 – Your Total Value of the Financial Information form – this section determines your total value today.
    2. Complete Step 2 – Future Value of Special Needs Trust of the Financial Information form – this section connects your financial information with your legal documents and determines the future value of your Special Needs Trust.
    3. Complete Step 3 – Special Needs Trust Value after Fees and Expenses of the Financial Information form – this section will determine the remaining value of the Special Needs Trust after immediate expenses and fees are paid.
    4. Complete Step 4 – Cash Flow Requirements of the Financial Information form – this sections lists the income and expenses for your Special Needs person to determine the cash flow requirements of your Special Needs Trust.
    5. Complete Step 5 – Special Needs Trust Requirement of the Financial Information form – this section helps you calculate the future funding needs of your Special Needs loved one.
    6. Complete Step 6 – Special Needs Trust Shortfall/Surplus of the Financial Information form – this final section will help you determine if you have enough assets to properly fund a Special Needs Trust of if you need to make up a shortfall in the funding required.
    7. Insert the completed Financial Information form into your binder behind Tab 4.
    8. Insert a copy* of all of your recent account statements into your Life Plan Binder.
    9. Consult with a Golden Financial Services Professional Advisor for a comprehensive financial review.

*Be sure to update your Life Plan Binder with the most current statements each time you receive a new copy for each account.

You should review and update your Financial Information from time to time to be certain that it is complete and current. Your financial advisor can help you make sure your finances are up-to-date and your investment portfolio is satisfactory and reflects your goals and desires. Golden Financial Services will review your entire portfolio and help you determine your funding needs for the Special Needs Trust.  We are a Registered Investment Advisor in the State of Colorado offering Investment Advisory Services through Golden Financial Services to Colorado residents only.

When you completed this step and are ready to continue, click below to go to
Step 5 – Taxes, Insurance and Other.