How Do Youknow Whether You and Your Family Are Financially Secure ?

How do youknow whether you and your family are financially secure ?

By doing a FINANCIAL NEEDS DIAGNOSIS and ascertaining whether:-

1. Dying too soonmeansmaybe not having provided enough for your dependents, or

2. You could beuncertain of the real implications of becoming disabled, or

3. There is adequate provision for medical emergencies and Hospitalization, or

4. Living too long means outliving your ability to support yourself financially, or

5. The impact of tax, debts and inflationare not being addressed until it is too late

You / Your Partner
Title / *
Surname / *
First name / *
Second name / *
Preferred name / *
ID Type
ID Number
Date of birth / *
Gender / *
Marital status
(insert YES in relevant block) / * / Single / Engaged
Married (COP) / Live together in Relationship
Life Partner / Divorced
Married (ANC) / Widowed
Married (ANC Accrual)
Marriage Date / *
Last Previous/Maiden name
Nationality
Residence Status
Smoked in last 6 months
Contact Details
Home Phone
Email
Work Phone
Fax
Cell Phone
Address Details
Residential
Postal
Business

Dependents

PARTNER / CHILD 1 / CHILD 2 / CHILD 3
First name / *
Surname / *
Relationship (son etc.) / *
ID Type
ID Number
Date of Birth / *
Financial dependent (Yes/No) / *
Gender / *
Dependent until what age / *

Employment Details

You / Your Partner
Occupation
Membership of Professional Body
Professional BodyNumber
Job Title
Employer
State Employee (Yes/No)
Status(managerial, clerk etc) / *
Start Date of job / *
Salary Review Date / *
Retirement Age at work / *
Job Split Type / Admin / Supervise / Travel / Manual / Admin / Supervise / Travel / Manual
Job Split %
Academic Education Level
(indicate Y or N tothose applicable) / No Matric / No Matric
Matric / Matric
3 or 4 Year Technikon or
Teachers Diploma / 3 or 4 Year Technikon or
Teachers Diploma
Undergraduate University
Degree / Undergraduate University
Degree
Future Professional / Future Professional
Post graduate Qualification / Post graduate Qualification

Items marked with a * are required. Other information is required for FICA and KYC purposes.

Employment Retirement Funds

Details / You / Your Partner
Name of Fund
Administrator of Fund
Type of Fund
HR Contact Person
HR Person Tel Number
Other
Other

Existing Insurance Policy Details – Letter of Authority will be required.

Company / Life and Risk / Unit Trust / Linked Investments / # of Contracts
Altrisk
Brightrock
Discovery Life
Liberty Active
Liberty Life
Metropolitan
Momentum
Old Mutual
PPS
Sanlam
Other (……………………………)

Additional Annotations

Cashflow – Income & ExpensesSource 1 Source 2 Source 3 Source 4

Income

Type (Employment / Passive)
Description
Owner (You / Your Partner)
Frequency
Capital amount
Currency
Gross Amount
Annual Increase %
Start Date
End Date or Retirement date
Pensionable (Y/N)
Taxable (Y/N)

Will any of the above Sources of Income continue on the occurrence of the events below (if so for how long).

Death
Disability
Dread Disease
Impairment
Expenses
Description / Who pays this expense? / Frequency / How much is the expense? / Annual increase % / Deductible % / Start Date / End Date
Rent/Bond
Rates and Taxes
Groceries
Entertainment
Vehicle Repayments
Fuel
Domestic Servant
Long Term Insurance Premiums
Short Term Insurance Premiums
Telephone / Cell / Internet
Other ______
Clothing Accounts
Other Loan Repayments
Education Fees
Cost of Pets
Medical Expenses incl Med Aid
Other ______

Balance Sheet – Assets & Liabilities

Assets - Details / Asset 1 / Asset 2 / Asset 3 / Asset 4
Type (investments / Lifestyle / Business)
Supplier
Description
Asset Number
Owners and percentage
Values
Capital Value (value in domicile currency)
Currency (domicile currency)
Current Value (ZAR)
Underlying Funds
Valuation Date
Expected Maturity Value
Maturity Date
Contributions
Amount
Frequency
Annual Escalation
Income
Amount
Annual Increase (%) or
Interest rate % of Asset
Frequency
Income Reinvested
Is Asset subject to CGT (Y/N)
Original Cost (purchase amount)
Oct 2001 value
Pre Oct 2001 Expenditure
Post Oct 2001 Expenditure
Disposal Costs
Should any of the below events occur indicate whether the asset will be disposed of and in what percentage, alternatively what income will be generated (Amount or %) and for how long.
Death
Disability
Dread Disease
Impairment
Retirement asset inclusion age
Primary Residence (Y/N)
Liabilities / Liability 1 / Liability 2 / Liability 3 / Liability 4
Description
Type (Current / Long term)
Institution
Account Number
Owners and Percentage
Guarantor
Security
Security Value
Original Balance
Outstanding balance
Valuation date
Interest Rate p.a.
Start Date
Loan Term
Repayment Details
Repayment Amount
Repayment Frequency
Repayment Type
Bank Account Name
Bank Branch Code
Bank Account Number
Deductible %
Credit Limit
Residual Value
Should any of the BELOW occur please indicate what percentage of the liability must be paid off.
Death (usually 100%)
Disability
Dread disease
Impairment

Education Requirement

CHILD 1–FULL NAME
Description / Start Age / End Age / Today’s Cost p.a. / Expected Inflation p.a.
Preschool
Primary
Secondary
Tertiary
CHILD 2–FULL NAME
Description / Start Age / End Age / Cost p.a. / Inflation p.a.
Preschool
Primary
Secondary
Tertiary
CHILD 3 - FULL NAME
Description / Start Age / End Age / Cost p.a. / Inflation p.a.
Preschool
Primary
Secondary
Tertiary
OTHER CHILD DEPENDENT
Description / Start Age / End Age / Cost p.a. / Inflation p.a.
Preschool
Primary
Secondary
Tertiary

Any Other Capital Requirements or Need for any of the children or anyone else DEPENDENT upon you?

Other ______
Other ______
Other ______

Estate Details – Last Will and Testament

You / Your Partner
Does a Will Exist? / *
Is the Will current / up to date? / *
When was it last reviewed?
In an ANC with Accrual, what was value of original estates? / *
Assets excluded from Accrual
Residue / Net Estate is bequeathed to whom? / *
Specific assets bequeathed

• to spouse
• estate
• 3rd party

Other expenses

• outstanding tax
• funeral costs
• valuation fees etc

Cash bequests

• children
• testamentary trust
• charities etc

Take Note

• For a Will to be valid, it should be correctly signed by the testator and testatrix on each page as well as by two independent witnesses that have no possible interest in the Will.
• Consult yourANC agreement to identify the value of yourrespective estates at the date of marriage.
• Great care should be taken not to bequeath the same asset/s to more than one person.
• Professional advice should always be sought.

Number your Priority of Needs – (1 being MOST important for you right now and 14 being IMPORTANT later.)

Life Cover / Business Assurance / Disability Protection
Income Protection / Medical Assurance / Compulsory Savings
Retirement Provision / Bond Settlement / Inflation and Tax
Investment Protection / Dread Disease Cover / Estate Duty Provision
Child Education / Lump Sum Investment

Other: ______

______

THINK 8 YEARS FROM TODAY:
Where would you like to be in 5 years time, (example):
Financial – Take my family overseas;Career – Be in management.
Financial
Career
Personal
Health

Planning Objectives time frames you wish to provide for

Description / Death / Disability / Dread Disease / Retirement / Investment
From Age
To Age
Amount needed p.m.
Escalation
Frequency needed
Priority

Notes

• Escalation may be either CPI or a fixed percentage
• Frequency can be: once off, every year, every 2,3,4 or 5 years etc
• Priority – 1 is highest

If you have found this exercise useful you are welcome to inform other people to follow this same process on our website
or
You are welcome to complete their details below and we will gladly contact them with your blessing and you as reference.
Name / Contact Number / Relationship / Age / Number of children / Occupation

My/ourDeclaration

(upon completion of questionnaire please sign electronically below or print out this page only and email back to us for processing)

I/we confirm that the information provided in this form is complete and accurate to the best of my/our knowledge (except where I/we have indicated that I/we have chosen not to provide such information). I/We understand and acknowledge that by not fully and accurately completing this form, any analysis, recommendation and/or advice given may be totally incorrect and in all likelihood inappropriate to my/our needs. As a result of the aforementioned, I/we may lose the right to seek compensation for any loss suffered by me/us as a consequence of any such actions or omissions. I/we understand and accept that aside from the financial obligation to pay the appropriate fee before delivery of the analysis I/we am/are in no way obliged to implement any of the possible recommendations that may be made byJose Proenca through him or his Consultancy Firm THINKING FINANCIAL PLANNERS. I/we further understand and accept that should I/we wish Jose Proenca to proceed with the implementation of any recommendations, then in order for Jose Proencato undertakeanyfurther analysis / work and/ormake any further specific recommendations, reasonable grounds for making such recommendations must exist and therefore Jose Proencamayneed to conduct an appropriate further investigation or contact me/us for clarification, in respect of my/our objectives, financial situation or particular needs that I/we may have. This information will then form the initial foundation upon which Jose Proenca can deliver such sound advice to me/us and / or implement such recommendations.Further fees may then be incurred and separately costed.

I/we thus declare :

The above information has been completed by
(your full names please)
and is a true and accurate reflection of my / our Financial picture
(YES / NO)
PLEASE SIGN HERE X / Date / /
Personal Professional adviser / Jose Proenca
CERTIFIED FINANCIAL PLANNER ®
Advanced Post Graduate Diploma.
FPSA® - Fiduciary Practitioner
H. Dip Tax Law (Wits) & Master Tax Professional (SA)™

100 % B-BBEE level 4 contributor
NQF 8 - Member of SAIT (No 17397650), FISA (No 0980), FPI (No 200300010) and MASTHEAD (No 906074).
Business Name / THINKING FINANCIAL PLANNERS
Is an Authorised Financial Services Provider (No 37633)
Independent Fee Based Consultancy
Cell: 082 888 2704
Fax: 086 547 7752
Email:
PO Box 784898 Sandton 2146 South Africa.
Physical Address / 24 Biloxi Boulevard, 172 Webber Road, Sandown, Sandton, South Africa

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