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Personal Financial Plan for Catherine Parker.

Autor:   •  March 10, 2015  •  Case Study  •  10,343 Words (42 Pages)  •  1,056 Views

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                                                       FEBRUARY 6th, 2014.




                   CATHERINE PARKER.

                          PREPARED BY

                                                             AMAN DUBEY

                  (STD NO # 300756248)



I appreciate that you came to see me in person regarding the anxieties and uncertainties you had with your financial position. As we go by the saying that “Planning is better than cure”, we must plan for the events which we are almost uncertain to happen. Today’s financial condition is very much unpredictable and fickle. We cannot control the financial conditions but what we can do is to prepare ourselves to overcome through such debacle.

This plan acts as an outline on which the financial plan would be structured and in order to start this planning process, I would like you to provide me with the material facts about your financial condition in detail.

The process will start from establishing the client-planner relationship.

After that, determining the goals and objectives will be the prime focus.

Once all the data is in store, financial plan will be constructed which will work best in your interest.

Finally when all set and done, will will implement the plan and continues monitor it annually for the plan to be a success.


During our meeting on February 6th, you articulated the following objectives and goals as your primary concerns in relation to the initial phase of this financial planning process.


  • Have enough income to sustain your current lifestyle.(which is around $75000)

  • Assets must be structured properly which will maximize the return.

  • Wants the bulk of your estate to be donated to charitable institute (hospitals, animal shelter, and medical research) and to distribute the remaining estate among your nieces.


  • To sell all the three houses till next year.

  • To create a new will and a power of attorney stating an executor.

  • To gain maximum return on investment which is best suited for you and be protected against the equity market volatility.
  • To establish the best tax management strategy which will save you from paying excess of tax.
  • Wants to allocate her cash in hand properly in a safe, sound investment alternatives.


                              FEDERAL INCOME TAX RATES FOR 2014

       TAXABLE INCOME                                                     TAX

  • Up to $43953                                                                 15%

  • On the next $43954                                                        22%
  • On the next $48636                                                         26%
  • Over $136270                                                                 29%.




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