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| Phase 1 |
1. Family Wealth Statement (Family Retreat)* |
| 2. Financial Check-Up* |
| 3. Value Proposition Letter* |
| Phase 2 |
4. Tactical Plans* |
| 5. Comprehensive Wealth Blueprint* |
| Phase 3 |
6. Implementation Documents |
| Phase 4 |
7. Annual Updates |
| *Certain planning instruments are offered individually so that you and your Advisors may select, tailor and integrate those that are most appropriate. |
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11. Progress thru Phases at Your Pace
The model explains how Phase 1 of the CAPABLE process begins with a discovery session. Phase 1 can be completed in just an hour or two if the client has CLARITY about his or her goals and his or her current situation. In most cases, however, clients welcome assistance in clarifying their goals during a family retreat that culminates with the production of a Family Wealth Statement. Many clients also appreciate having their current plans analyzed to see how the current plan fails to achieve goals clarified in the Family Wealth Statement. The current plan is analyzed in a document known as a Financial Checkup.
Phase 1 culminates with a Value Proposition Letter ("VPL"), which sets the stage for the second phase. The Wealth Advisor adapts the VPL to the client's needs. If the client just wants to reduce taxes or achieve some other specific goal, the Wealth Advisor immediately discusses a relatively simple tactical plan or executive summary plan. If the client wants a more comprehensive process, the Wealth Advisor discusses a process that produces a comprehensive Family Wealth Blueprint, which illustrates an optimal combination of strategies for minimizing taxes, increasing transfers to heirs, enhancing charitable giving potential, or achieving other personal or financial goals.
Phases 2, 3, and 4 are explained above and on the following slide:
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