Are Your Affairs in Order checklist?

  1. When last have you reviewed your Will?

o   Have you left your estate to the wrong beneficiaries, i.e. ex-spouse?

o   Have you had another child who is not included?

  1. Business interests

o   Is your buy-and sell insurance outdated when compared to the actual value of your business?

o   Do you have arrangements for the repayment of loan accounts when exiting the business?

o   Are your shares owned by you directly?

  1. Do you have a Shareholders agreement?

o   Has it been reviewed post changes in the Companies Act to ensure validity and enforceability?

o   Have you addressed the valuation of the business?

  1. When last have you reviewed your Trust affairs?

o   Is your Trust deed up to date?

o   Have all the Tax returns been submitted?

o   Are you making donations to the trust in the most tax efficient manner?

  1. Retirement planning

o   When last have you reviewed the future value of your retirement funds to ensure sufficient funds available on retirement?

o   Have you taken full advantage of the tax benefits of contributions to retirement funds?

  1. Investments

o   Do you have surplus funds earning little interest in a bank account?

o   When last did you review your portfolio to ensure that you are diversifying your risk and maximizing your return?

  1. Life insurance policies

o   Do you have the incorrect beneficiaries still listed on your policies, i.e. ex-spouse or business partner?

o   Are minor children named as beneficiaries, who could fall under Government control?

o   Do you have sufficient cover and benefits to provide for the needs of your beneficiaries?

o   Have you considered the scenario should you become un-insurable?

  1. Short-term insurance

o   Are the insured values of vehicles too high causing unnecessary premiums?

o   Are all assets covered under appropriate categories?

o   Is the insurance of property in line with your financier requirements?

o   Have all new assets acquired been covered?

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