Rasmussen College Comprehensive Personal Financial Plan Report

You have just opened your own estate planning business and have landed new clients, John, age 30, and Becky Warbucks, age 29, who have just received a large inheritance from John’s late grandmother. They inherited $200,000 and have asked you to prepare a comprehensive financial plan for them. Prior to receiving the inheritance, the clients had money in savings, checking, and investments. In your plan, you must incorporate recommendations for existing assets and develop a strategy for the inheritance that will include a trust, a will, an insurance needs analysis, recommendations on retirement plans, a proposed investment portfolio, and a proposed real estate portfolio.

Each of the first four project assignments was an in-depth analysis, all of which you have completed in subsequent weeks prior. In preparation for your meeting with the Warbuckses, you will summarize all of your findings at a higher level in a comprehensive financial plan document to be delivered to the client.

Requirements:

Take the holistic view of the Warbucks’ financials and write a plan that includes sections with headings for each of the following:

• Executive Summary – this should include a title page with the client names, age, report title, date, and your name. Summarize the information that the client will find in the presentation. The information should also include the current financial state of the Warbucks. Also, talk about the significance of the inheritance.
• Insurance recommendations – based on the findings from the Insurance Analysis project assignment, include your recommendations for the type of life insurance that is best for the clients. Explain your recommendation.
• Retirement recommendations – based on the findings from the Retirement Analysis project assignment, include your recommendations for the type of retirement plan that is best for the clients. Explain your recommendation.
• Real Estate Portfolio recommendations – based on the findings from the Real Estate Portfolio Analysis project assignment, include your recommendations for the type of real estate that is best for the client’s portfolio. Explain your recommendation.
• Conclude the presentation with the next steps of action that the Warbuckses need to do to execute your recommendations.

You can use your book as one reference and any search engine for additional references. Wikipedia and Investopedia are not credible websites and may not be used. You may also import pictures, but it is not required. List your references on a separate sheet at the end of your document.