Financial Planning Worksheet
When you’re getting your affairs in order, it’s important to prepare and organize important records and files all in one place.
What is a Financial Planning Worksheet?
Typically, you will want to include personal, financial, estate and health information in a financial planning worksheet. Remember, this is the starting place. You may have other information to add. For example, if you have a pet, you will want to include the name and address of your veterinarian. Incorporating Financial management tools into your planning process can ensure that you stay on track with your financial goals. Moreover, utilizing financial planning tools can provide you with insights and strategies to optimize your financial decisions. Provided below is a typical list of information that is tracked – MyFamilyPlan provides this capability and more.
Assets & Revenue
- Asset Name
- Asset Category
- Asset Value
- Beneficiary
- Job Income
- Business Income
Liabilities
- Liabiltiy Name
- Liability Category
- Liability Amount
- Liability Comments
Bills
- Bill Name
- Bill Category
- Expense Category
- Payment Method
- Frequency
- Bill Estimate
- Bill Comments
Insurance & More
- Life Insurance
- Social Security
- Pending Inheritance
- Related Documents
Who Can Help with Getting Your Affairs in Order?
You may want to talk with a lawyer about setting up a general power of attorney, durable power of attorney, joint account, or trust. Be sure to ask about the lawyer's fees before you make an appointment.
You should be able to find a directory of local lawyers online or contact your local library, local bar association, or the Eldercare Locator. Your local bar association can also help you find what free legal aid options your state has to offer. An informed family member may be able to help you manage some of these issues. Additionally, the use of various finance tools can greatly assist in organizing and managing your finances effectively.
What Other Decisions Can You Prepare for in Advance?
Getting your affairs in order also means making decisions about funeral arrangements, or what you want to happen to your body after you die. Deciding and sharing your decisions can help your loved ones during a stressful time and best ensure your wishes are understood and respected.
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