Vulnerability Assessment

How financially vulnerable are you and do you have a plan for the future?

We all know life sometimes brings unexpected challenges and difficulties. Often, we let non-urgent matters take priority over truly important ones. We all do it.

Whether you’re an individual or business owner, your situation is very unique. Your financial plan should be, too. At Fahmy & Assoc., we’ll work closely with you to assess your current financial health, develop a precise financial profile, and execute a long-term strategic plan. We’ll do this through our comprehensive employee benefits, life insurance, disability income, and long-term care solutions.

The first step in the process is our Financial Vulnerability Assessment. Some of the things we’ll consider include the following:

FOR INDIVIDUALS…

  1. Do you have adequate Estate Planning documents in place? These may include: wills, trusts, medical and financial powers of attorney, etc.*
  1. Do you have adequate Disability Income Insurance? Employer sponsored, Group Disability Insurance is often NOT enough.
  1. Do you have the proper amount and type of Life Insurance? Each person’s needs for life insurance differ based upon their financial situation and their personal desires to provide for their loved ones. There is NO standard formula when it comes to Life Insurance!
  1. Have you protected your loved ones and your wealth in the event that you are in need of long-term care and assistance? Seventy percent (70%) of people ages 65 and older will be in need of long-term care.

FOR BUSINESSES…

  1. What will happen to your business in the event of your death or disability?
  1. Businesses often have not begun to think through an exit strategy. Often, family or spouses are not capable of operating the business. Would you want your family to be in business with your partners, or more importantly would you want your partner’s family to be in business with you?
  1. Have you identified “Key People” who are capable of stepping into your shoes in the event you’re not around?
  1. How much of your wealth is tied up in your business? Have you taken on debt to finance your business?
  1. Key-Person Insurance and a Buy-Sell Agreement (business disposition plan) will help you to address all of the above.
  1. How concerned are you about what happens to your business in the event of your retirement, disability or death?

After assessing your current situation and developing your financial profile, we’ll develop and implement your customized Financial Vulnerability Plan (FVP). Our professional staff at Fahmy & Assoc. will be with you through every step of the process.

Our goal is to make your individual and/or business financial plan work optimally for your financial well-being now and into the future.

Call us at 703.760.4630 to start the conversation or fill out our online contact form.

*Legal documents prepared by a licensed estate planning attorney.

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