Bateman Mackay Fiscal Fitness Assessment by firstname.lastname@example.org | Jun 3, 2020 | 0 comments Directions: The statements below will help you to think about and assess how satisfied you are with many aspects of your financial life. Please mark your level of satisfaction for each statement. First Name Last Name Email Address Phone Number What are the top three financial matters that keep you awake at night or that you consider top priorities? Organization and Planning Our financial affairs are well organized and in good order.AgreeSomewhat AgreeSomewhat DisagreeDisagree I know what my family’s long term goals are and can quantify them.AgreeSomewhat AgreeSomewhat DisagreeDisagree Our personal financial situation is straightforward, I enjoy managing it and I feel I am doing a good job.AgreeSomewhat AgreeSomewhat DisagreeDisagree We have a document records system that allows us (or our loved ones) to quickly put our hands on whatever we need.AgreeSomewhat AgreeSomewhat DisagreeDisagree I can safely say that very few financial details fall through the cracks in my life.AgreeSomewhat AgreeSomewhat DisagreeDisagree I receive regular, easy to understand, consolidated reporting on all our family holdings across all of our entities and family members.AgreeSomewhat AgreeSomewhat DisagreeDisagree I am comfortable that we have the appropriate level of risk in our portfolio.AgreeSomewhat AgreeSomewhat DisagreeDisagree Investments I know what rate of return we need from our investments to ensure we meet our family’s key objectives.AgreeSomewhat AgreeSomewhat DisagreeDisagree I am confident that our asset allocation reflects our risk and return expectations.AgreeSomewhat AgreeSomewhat DisagreeDisagree We have a written Investment Policy Statement for our overall investment portfolio that clearly lays out the objectives, limitations, review process and accountability.AgreeSomewhat AgreeSomewhat DisagreeDisagree Our investments have been objectively reviewed recently and I am confident we have the right ones in place and in the right combinations.AgreeSomewhat AgreeSomewhat DisagreeDisagree We have a regular review process in place to evaluate the successAgreeSomewhat AgreeSomewhat DisagreeDisagree Risk Management I am comfortable that we have the appropriate level of risk in our portfolio.AgreeSomewhat AgreeSomewhat DisagreeDisagree We have a process in place to review non-portfolio risks that could impair our wealth.AgreeSomewhat AgreeSomewhat DisagreeDisagree We have a process in place to review our insurance to ensure it covers our significant risks.AgreeSomewhat AgreeSomewhat DisagreeDisagree I understand all our insurance policies and am confident that they are appropriate and up-to-date.AgreeSomewhat AgreeSomewhat DisagreeDisagree Tax Planning and Structuring I am confident that we are taking advantages of all the tax efficiencies available to us.AgreeSomewhat AgreeSomewhat DisagreeDisagree I am confident that the tax allocation of our investment assets is optimal.AgreeSomewhat AgreeSomewhat DisagreeDisagree I understand how the use of a trust or other tax structures could decrease the amount of tax we pay.AgreeSomewhat AgreeSomewhat DisagreeDisagree I fully understand the tax implications of any U.S. assets we own (e.g. real estate, securities etc.) and have protected ourselves accordingly.AgreeSomewhat AgreeSomewhat DisagreeDisagree I am confident that we are taking advantages of all the tax efficiencies available to us.AgreeSomewhat AgreeSomewhat DisagreeDisagree Estate Planning and Succession I have a clear idea of our estate objectives and how much our heirs will receive after taxes and when.AgreeSomewhat AgreeSomewhat DisagreeDisagree Our wills have been updated in the past three years. We have properly-executed powers of attorney for financial and health care purposes.AgreeSomewhat AgreeSomewhat DisagreeDisagree Cash Flow Management I have calculated how much capital I will need to be able to retire and to maintain our standard of living.AgreeSomewhat AgreeSomewhat DisagreeDisagree I know what our family expenses are and feel confident that they are reflected in my wealth plan.AgreeSomewhat AgreeSomewhat DisagreeDisagree I have a game plan in place to prepare for a liquidity event, such as retirement, receiving my deferred compensation or cashing in my shares or partnership interestsAgreeSomewhat AgreeSomewhat DisagreeDisagree Advisors I have an advisor who is knowledgeable and objective regarding all of the issues listed above.AgreeSomewhat AgreeSomewhat DisagreeDisagree My advisor is proactive and regularly anticipates the key issues that need attention in my life.AgreeSomewhat AgreeSomewhat DisagreeDisagree I know all the fees we are paying to our advisors and understand the value we receive and the impact on our net worth.AgreeSomewhat AgreeSomewhat DisagreeDisagree Family Issues Our family has frequent, open, healthy dialogue about money and financial issues.AgreeSomewhat AgreeSomewhat DisagreeDisagree I am confident that my spouse and children will be able to manage if something happened to me.AgreeSomewhat AgreeSomewhat DisagreeDisagree I am confident that our family net worth is not likely to be at risk if one of my children gets divorced.AgreeSomewhat AgreeSomewhat DisagreeDisagree If any of my family is a U.S. citizen, resident or green card holder, I understand the tax and compliance risks facing the family and have addressed them.AgreeSomewhat AgreeSomewhat DisagreeDisagree I feel confident that our children are financially well-educated and sufficiently responsible to inherit the assets that are likely to be left to them.AgreeSomewhat AgreeSomewhat DisagreeDisagree Time is Up! Submit a Comment Cancel replyYour email address will not be published. Required fields are marked *Comment Name * Email * Website Save my name, email, and website in this browser for the next time I comment.