NEW MONEY NEW PROBLEMS

As life changes, we can underestimate the impact of life events on the financial plans we've created. This checklist is designed to trigger memories of any life changes you may have experienced in recent months, and also alert you to the parts of your financial plan that may be affected.

The affected areas listed are not a comprehensive list of potential changes associated with the events below; they are a conversation starter to inform you of potential updates to your financial strategy that should be considered.

Change of Plans Financial Checklist
The "Change of Plans" Checklist


Urgency Level Meter

✓

STABLE

You may be able to handle this yourself

⚠

NEEDS REVIEW

It would be helpful to contact a specialist

!

URGENT

Seriously, don't try this without the help of a professional

Financial Table of Elements

T Taxes
In Investments
Is Insurance
Em Employee Benefits
Es Estate Plan
Sl Student Loans

How to Use This Checklist

Review each life event below and check any that apply to your recent situation. Each item shows which financial areas (T, In, Is, Em, Es, Sl) may be affected and the urgency level using our color-coded system. Use this as a starting point to identify areas that may need professional review or immediate attention.

Family Structure
Change or potential change in marital status
URGENT T Is Em Es Sl
Death of spouse
URGENT T In Is Em Es Sl
Preparing for pregnancy or currently pregnant
STABLE T Is Em Es Sl
Preparing for adoption
NEEDS REVIEW T Is Em Es Sl
Change in number of dependents (birth of child, loss of child as dependent)
STABLE T Is Em Es Sl
Financial responsibility for family member outside your home (e.g. parent, sibling)
STABLE Is
Change in status of spousal support
STABLE T
Home Ownership
Buying or refinancing a home (including investment property)
NEEDS REVIEW T In Is Es Sl
Buying a home out of state
URGENT T Es
Selling or accessing the equity in an existing home (including investment property)
NEEDS REVIEW T
Considering an out of state move
STABLE T Sl
Damage to home or planned repairs or renovations
STABLE Is
Health
Weight loss ≥ 10% of body weight
STABLE Is
Change in status of diagnosed condition (initial diagnosis, improved outlook)
URGENT Is Em
Prolonged health concerns and/or diagnosis
NEEDS REVIEW T Is Es Em
Terminal diagnosis of self or spouse
URGENT Is Es
Death of a spouse
URGENT T Em Is In
Stopped smoking
STABLE Is Em
Decline in health of family member for which you may be responsible
NEEDS REVIEW Em Is In
Major surgery completed or planned within 12 months
STABLE T Em
Have access to an HSA, FSA or Dependent FSA
STABLE T Sl In
Employment
Changed employment status (new hire, laid off, retirement)
STABLE T Em Is
Eligible for a bonus
STABLE T Is
Consistently work overtime hours
STABLE Is
Increase in total household income of greater than 20%
NEEDS REVIEW T Sl
Decrease in household income
STABLE Sl
Earn more than $200,000
NEEDS REVIEW T Em Is Sl
Children
Identification of special abilities or learning differences
URGENT Es T Em Is
Start of private schooling or college
STABLE T In
Distributed funds to children from business
NEEDS REVIEW T
Child(ren) with unearned income
STABLE T In
Planned major support for child (home purchase, PLUS student loan, financial gift)
NEEDS REVIEW T
Student Loan Borrowers
Changed employment status with a nonprofit or government entity
STABLE Sl
Paying on an Income Driven Repayment (IDR) plan
STABLE T Em In
Owe less than your income in federal student loans
STABLE Sl
Have private student loans
STABLE Sl
Have Parent PLUS loans
NEEDS REVIEW Sl
Have a cosigner or serve as a cosigner on a private student loan
NEEDS REVIEW Sl In
Equity Compensation
Changed employment status with a company offering equity compensation
URGENT T In Em
Within 90 days of company exit with unexercised stock options
URGENT In T Sl
Exited with company stock in your 401(k)
NEEDS REVIEW T In
Vested equity compensation within last 6 months
NEEDS REVIEW T Sl In
Company has gone or will go public
URGENT T Sl In
Estate Planning and Charitable Giving
Established a will or trust
URGENT Is In T Em
Designated persons as trustee, executor or guardian(s) for your minor children
NEEDS REVIEW Es
Death of a person relevant to your estate plan (spouse, trustee, guardian, beneficiary)
URGENT Es In
Change in preference for persons or terms relevant to your estate plan
NEEDS REVIEW Es
Planning to pass property or stock to a loved one
STABLE In T
Death or decline in health for a parent or elderly family member
STABLE Es In Is
Inherited property or investments
NEEDS REVIEW T
Planning significant charitable contributions in the coming years
STABLE T
Donating stock or property to charity
NEEDS REVIEW T Es
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