Risk Management

As part of the overall review that takes place during the financial planning process, we check several areas of your risk management, and ask questions such as:

In the event of your premature death, is there enough capital available for your spouse, children or other family members that may be dependent on you to keep their standard of living? A capital need analysis is prepared to help answer this question. This analysis sets forth an amount of capital that must come from life insurance to be added to your own investments to deal with this problem. We don’t guess at this answer, we prepare documentation.

If you were to become too ill to work, or had a severe accident that prevented you from earning a living for the next year, how would you pay your bills? Does your employer have any form of short or long-term disability available for you? Do you need to supplement this? A disability income analysis will answer this question, and strategies will be presented and explained.

In the event that you have or develop a problem with needing to pay estate taxes, is there enough capital to cover this, or do you need to supplement with estate planning strategies that will help pay this tax? We prepare an estate analysis to identify potential tax issues, and help you develop a way to handle this situation, in conjunction with qualified estate planning specialists.

Are your limits of personal liability coverage sufficient on your homeowner’s policies, given your level of net worth that needs to be protected?

Have you put into place coverage in the vent you would need to go to a nursing home, or need skilled care within the home?

These questions are examples of the ones we ask of you during the planning process. Proper risk management is essential to a well-built financial plan, just as a foundation is necessary to
your home.

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Global Financial Planning Group, LLC - 3155 W. Big Beaver Road - Suite 123 - Troy, MI 48084
Phone: (248) 643-4820 - Email: info@gfpgroup.com

Securities offered through LPL Financial. Member FINRA / SIPC.

Investment advice offered through Global Financial Planning Group, LLC; a registered investment advisor and separate entity from LPL Financial.

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