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Process for Comprehensive Financial and Estate Planning

  • US 20070156558A1
  • Filed: 03/14/2007
  • Published: 07/05/2007
  • Est. Priority Date: 11/23/1999
  • Status: Active Grant
First Claim
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1. a computer readable medium containing programming instructions for a computerized process to generate a financial and estate plan using liquidity analysis comprising:

  • obtaining client asset data representing financial data on client owned or controlled homes, boats, automobiles, jewelry, cash and cash equivalents such as checking, savings, money market accounts, certificates of deposit, treasury bills, earned income, passive investment ordinary income distributions, passive investment ordinary income dividends, individual stocks that are held long term, municipal bonds, municipal bonds funds, equity in closely held companies, investment real estate, tax deferred financial products such as annuities, qualified plans, IRA'"'"'s, simplified employee pensions (SEP'"'"'s) and life insurance;

    defining a data structure with four asset categories I, II, III and IV;

    asset category I encompasses personal assets and pleasure assets, which include homes, boats, automobiles, jewelry and other client assets which provide shelter and enjoyment and enhance the owner'"'"'s lifestyle;

    asset category II encompasses client assets which represent reserve capital assets and include cash and cash equivalents such as checking, savings and money market accounts, certificates of deposit, treasury bills, earned income, passive investment ordinary income, distributions, and passive investment ordinary income dividends;

    asset category III encompasses client assets which represent unprotected retirement funding assets and includes individual stocks that are held long term, municipal bonds, municipal bond funds, equity in closely held companies, investment real estate, other relatively tax efficient, unprotected assets taxed at a capital gains tax rate, non-taxable or tax deferred;

    asset category IV encompasses client assets which represent tax deferred vehicles and includes annuities, qualified plans, IRA'"'"'s, simplified employee pensions (SEP'"'"'s) and life insurance;

    classifying each of said client assets, and a corresponding net value of each said client asset, in one of said four data structure asset categories;

    obtaining a client'"'"'s liquidity objective or goal for each of four purposes, which are a retirement protection purpose, a current estate liquidity purpose, an estate tax reduction purpose, and a projected future estate liquidity purpose, and inputting a respective client liquidity objective or goal into a retirement protection analysis process module, a current estate liquidity analysis process module, an estate tax reduction analysis process module, and a projected or future estate liquidity analysis process module;

    said retirement protection module operating on said client assets in each asset category and identifying client assets protected from bankruptcy and client assets unprotected from bankruptcy;

    said current estate liquidity module operating on said client assets in each asset category and analyzing said client assets to determine degree of liquidity for each respective asset category and identifying a need for term insurance;

    said estate tax reduction module operating on said client assets in each asset category and analyzing said client assets and identifying client assets subject to charitable gifting and client assets providing estate tax liquidity;

    said projected future estate tax liability module operating on said client assets in each asset category and identifying and allocating specific ones of said client assets to be used later in time for future estate liquidity, based upon whether said specific client asset is protected or unprotected from bankruptcy and based upon attaining said client liquidity objective or goal for each respective asset category; and

    generating a liquidity estate plan listing, for each asset category, said client asset and the respective degree of liquidity therefor and identifying said specific ones of said client assets to be used later in time for future estate liquidity.

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