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Essentials of Personal Financial Planning by Tom Tillery, Susan Tillery

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CHAPTER 1 PERSONAL FINANCIAL PLANNING

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CASE STUDY

George and Angela Martin, who own a closely held engineering firm, have been in business together for 11 years and married for 15. Prior to starting their business, George was an engineer for the state highway department, and Angela was an interior decorator. The company now has 25 employees and provides services to local, state, and government agencies.

Thinking of their two children, Alex (age 5) and Amy (age 7), the Martins completed a personal financial planning engagement through your services 9 months ago. As a result of your recommendations, they created foundational estate planning documents, purchased life and disability insurance, established a qualified plan for their business, and began funding their children’s 529 plans.

Unfortunately, George just called you with some bad news: The Martins have decided to divorce. Because you know so much about their financial circumstances and previously provided such excellent financial planning advice, George would like you to assist him with working out a property settlement, potentially dissolving the business, and rewriting his estate documents.

LEARNING OBJECTIVES

After completing this chapter, you should be able to do the following:

images  Identify the personal financial planning ...

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