Financial Analysis Report

Do you have a will?

If you have assets – including your home, accounts, and real estate – you should consider having a will or trust in place. The reason is simple: you have worked very hard to accumulate what you have and when you pass away, you want to make sure your assets are managed according to your wishes. Obviously, keeping those assets within your family is key in creating generational wealth.

Have you established a trust?

Both wills and trusts reflect how you desire to have your inheritance managed – who receives what, when they receive it, and how it is received. Trust assets do not go through probate. Thus, you save the attorney’s fee and the executor’s fee. Trust assets may be distributed without attorney and court involvement and therefore can be distributed much faster. (Source:

Do you own a business?

Owning a business is a great way to build assets in your effort toward creating generational wealth because it is a way to pass something tangible to your family’s next generation.

If you own a business, is it incorporated?

Creating a separate legal entity in the form of a business can result in a more advantageous, affordable tax situation and provide more tax benefits for business owners, which is just one of many reasons why you should consider consulting with a CPA or an attorney regarding your business formation.

Do you own any real estate?

For many, your home is your biggest investment. It’s the most expensive asset you own and deciding to purchase it was one of your biggest life decisions. Making sure that your home and other real estate are properly handled during and after your lifetime is an important part of estate planning.

Do you have children?

Life insurance benefits the living and can be a major step in creating generational wealth. The key to finding the right policy that can benefit your children is sitting down with a great financial advisor who understands your financial needs and understands your long-term plans for your children.

Do you own a private reserve account for you and your spouse?

Given the hoops that most banks will make you jump through for even a small loan, it is important that you understand that life insurance policies may be used to build generational wealth AND fund your current dreams.

Do you have a private reserve account for each of your children?

Many fail to realize that life insurance policies are very valuable to the living, not just valuable to the family of the deceased. Understanding how to leverage those policies is key to building generational wealth.