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26. Current Plan Flowchart

All plans include a summary of the client's current situation. Clients often remark that they did not understand their legal documents until we flowcharted them. The flow chart shows how much wealth goes to taxes. The client can also see whether children will receive as much wealth as hoped or whether the children receive too much wealth. At this point, the wealth counselor might discuss the advice of Warren Buffett, who said, "I want to give my children enough wealth so that that they can do anything but not so much that they do nothing."

Sample Chart for Illustrative Purposes Only.

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U.S. Treasury Circular 230 requires that this firm advise you that any tax advice provided was not intended or written to be used, and cannot be used by you, for the purpose of avoiding penalties that the IRS could impose upon you.