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Financial Checklist

Your personal financial interview

Financial Planning

  • Is there a way to aggregate all of my financial assets and track their performance and overall asset allocation?
  • Should I allocate my IRA’s, 401(k) and deferred compensation accounts differently than my taxable accounts?
  • What to do with my year-end bonus?
  • How should our assets be held?- Individual names, joint, tenants in common?

Retirement Planning/College Education Planning

  • Do I have enough money to retire?
  • Do I have enough money to retire?- If so, when can I retire? And in retirement, which accounts should I draw down first?
  • Should I be deferring some of my income?
  • Should I use a 529, UGMA, 2503(c) Trust or Crummey Trust to save for my children’s education?

Asset Management

  • How can I help reduce the level of risk in my portfolio?
  • How are my various investments performing?
  • How should I diversify?
  • Can I help reduce the tax bill on my investments?

Estate Planning

  • Are my estate planning documents (Wills, Trusts, etc.) appropriate, up to date and consistent with current tax codes? Are my estate planning documents (Wills, Trusts, etc.) appropriate, up to date and consistent with current tax codes?- Should I establish more complex estate planning techniques such as GRATS, FLPs, QPRTs, IDGTs, etc.?
  • Who can make sure that I am sending out the appropriate Crummey notices each year?
  • Where are all my important documents? (Deed to house, tax returns, Wills, etc.)
  • Are there Trust instruments I should be using?- Living Revocable Trusts, Special Needs Trusts, Irrevocable Trusts, Generation Skipping Trusts, etc.


  • Do I have the right amount and right type of insurance?Do I have the right amount and right type of insurance?- Life; Disability? Are they coordinated with my other assets and legal documents?
  • Do I have the appropriate auto/home insurance coverages?- How do I determine the proper deductibles?
  • How much Umbrella Liability coverage should someone have with my level of assets?

Tax Planning

  • How should I actively manage capital gains and losses throughout the year?
  • Is there an optimal time to be exercising Incentive Stock Options, Non Qualified Stock Options?

Money and Children

  • Have we established and communicated our personal financial values to our children?
  • When is the appropriate time to start an allowance? What is the appropriate amount?
  • How do we teach our children about philanthropy?


The information provided is not written or intended as tax or legal advice and may not be relied on for purposes of avoiding any Federal tax penalties. Representatives of Gotham Financial Services are not authorized to give tax or legal advice. Individuals are encouraged to seek advice from their own tax or legal counsel.