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CoPilot Personal Planning Assessment
1
Estate Planning
2
Insurance
3
Tax Planning
4
Charitable Giving
5
Investment Advisory
6
Financial Planning
7
General
8
Business Succession Planning
9
Additional Information
Name
First
Last
Email
Company name
Estate Planning
Do you have signed estate planning documents in place (will, living will, power of attorney, etc) that were drafted by an attorney?
Yes
No
When was the last time your estate documents were reviewed by an attorney?
Less than 3 years ago
3-7 Years ago
More than 7 years ago
Are you a member/owner of one or more business entities? (LLC, Partnership, LP, etc.)
Yes
No
Have you explored and/or implemented strategies to mitigate potential estate tax exposure through estate planning?
Yes, I have explored and implemented such strategies
Yes, I have explored but not fully implemented such strategies
No, I am not familiar with such strategies but interested in exploring
No, I am not interested in persuing such strategies
How confident are you that your assets (liquid, real estate, business) have the correct ownership/titling? (LLC, Trust, Joint Tenants, etc.)
Confident
Somewhat confident
Not confident / unsure
Are you confident that you have correct beneficiary designations for life insurance and retirement accounts?
Confident
Somewhat confident
Not confident / unsure
Have you deployed any estate planning tools to better protect your assets from creditors?
No, but interested in exploring options
No, and not interested in exploring
Yes, have implemented strategies/tools
Insurance
Do you have existing life insurance policies?
Yes
No
I don't know
Do you know the ownership of the policy(ies)
Personally owned
Other individual owned (i.e. spouse, business partner)
Business owned
Life insurance trust
Unsure
When were the policies last reviewed by a financial professional?
Less than 3 years ago
3 - 7 years ago
More than 7 years ago
When were beneficiary designations last reviewed or updated
Within the last 5 years
More than 5 years ago
Do you have a disability insurance policy?
Yes
No
I don't know
Do you have a personal liability policy (also called umbrella policy) in place for you and your family?
Yes
No
I don't know
How much additional liability coverage is provided through your policy?
$0 - $2 Million
$2 - $5 Million
More than $5 Million
Unsure
Does your personal insurance provider specialize in providing coverage to high net worth individuals?
Yes
No
I don't know
Have you addressed potential life insurance needs around Buy-Sell and/or Key Person issues for your business? (i.e. providing liquidity for the business to repurchase shares from a deceased or exiting owner; or to recruit, hire, and a train a replacement in the event of losing a key employee in the organization)
Yes, have addressed and solved for such circumstances
Yes, have discussed options but not implemented (or not sure if implemented)
No, have not discussed options or explored solutions
Not sure
Do you have a plan for medical insurance coverage and costs, once those are not available through your business/employer?
Yes
No
Tax Planning
Do you currently work with a CPA or tax professional for your personal tax planning?
Yes
No
How proactive is your current advisor in providing tax planning ideas & strategies?
Very proactive in offering advice & strategies
Helpful in vetting ideas or strategies that I suggest
Only files my return, does not provide proactive advice
Do your estate and tax advisors communicate and coordinate planning on your behalf?
Yes
No
I do not currently have an estate planning attorney/advisor
Have you done any planning around possible tax and estate planning strategies ahead of a potential sale of your company?
Yes
Yes, but that planning should be revisited
No, and not interested
No, but interested in learning about strategies
Charitable Giving
Do you typically make charitable gifts throughout the year?
Not currently, and no future giving plans
Not currently, but would like to in the future
Yes, and plan to continue at a similar rate in the future
Yes, and would like to increase future giving
How would you describe your charitable giving?
Not structured; I give as opportunity is presented
Loose structure/direction; to particular organizations or causes
Structured; to a single cause or charity
Structured; I utilize a Donor Advised Fund or Private Foundation
Do you involve family members in charitable conversations and gifting decisions?
Yes
No
Not currently, but would like to
Does your estate plan include any plans for charitable contributions and/or charitable trusts?
Yes
No
Investment Advisory
What is the approximate value of your liquid investments (stocks, bonds, cash) in retirement or taxable accounts?
$0-2M
$2-$5M
$5-$10M
$10M +
Do you currently work with an investment advisor to manage your portfolio?
Yes
No
How confident are you in the advice you receive from your advisor?
Confident
Somewhat confident
Not confident / unsure
How satisfied are you with the level and type of communication you are receiving from your advisor?
Extremely satisfied; I like the type and frequency of communication
Satisfied; the communication I receive is sufficient
Dissatisfied; I'd like more communication
How transparent is your advisor in disclosing the management fees you pay and/or commissions they receive?
Very transparent; I know exactly what fees I'm charged and how my advisor is paid
Somewhat transparent; I don't fully understand the fees I pay
Not at all transparent; I don't know what I'm paying and/or if my advisor receives commission
Does your investment advisor operate under a fiduciary standard?
Yes
No
I don't know
Do you feel confident that the allocation and risk level within your portfolio are customized to your goals and objectives?
Yes, very confident
Somewhat confident
No, not confident
Is the investment strategy of your portfolio tax-efficient?
Yes
No
I don't know
Financial Planning
Approximate net worth (including liquid investments business interests, real estate, other assets):
Less than $10 million
$10 to $30 million
$30 to $50 million
$50 to $100 million
Over $100 million
Have you worked with a CFP (Certified Financial Planner) to complete a customized financial plan for you and your family?
Yes
No
Does this plan assume/include potential liquidity from a business sale transaction?
Yes
No
I don't know
When was the last time the plan was reviewed or updated?
Within the last year
More than a year ago
How confident are you in the reliability of this plan?
Very confident
Somewhat confident
Not at all confident
Do you have an idea of how much you currently spend on an annual basis to support your lifestyle?
Yes
No
I have a rough idea
Have you personally done any analysis or projections to determine the asset level needed to sustain your future spending goals?
Yes
No
How confident are you in the reliability of these projections?
Confident
Somewhat confident
Not confident / unsure
Do you plan to assist children, grandchildren, or others with education costs?
Yes
No
I don't know
Are you leveraging a special education savings vehicle, such as a 529 Plan?
Yes
No
I don't know
Have you identified certain goals or expenses that you'd like to afford post-transaction? (vacation home, relocation, travel, gifting, etc.)
Yes
No
General
Current marital status
Married
Divorced
Remarried
Partner/Relationship, not legally married
Never married
Do you have children or dependents?
Yes
No
Do you have a blended family? Children from a previous relationship or a spouse/partner's previous relationship?
Yes
No
Do you have minor (under 21) or adult children/dependents?
Minors only (under 21)
Minors and adults
Adults only (21+)
How would you rate your spouse/partner's understanding of your financial picture and business assets?
Very familiar; we both fully understand our financial picture
Somewhat familiar; we each understand some aspects but not all
Unfamiliar; I handle all financial aspects on my own
Not applicable
Do you have a family member, friend, or advisor who understands most or all of your financial and business assets?
I have someone who fully understands my financial & business situation
I have one or more people who are each familiar with various aspects
No one else really knows my full financial & business situation
How confident are you in your heirs' ability to understand, manage, and steward the family wealth?
Confident
Somewhat confident
Not confident / unsure
Do you use an online password manager service to store usernames and passwords?
Yes
No
I don't know
Does anyone else have access / login credential to your password manager in case of emergency?
Yes
No
I don't know
I have shared important life lessons, family legacy, and other personal messages with my family.
Yes
Somewhat
No
My family knows all of our most trusted advisors and how to get in touch with them. (tax, estate, investments, insurance, business partners, etc.)
Yes; they are familiar with all advisors
Somewhat; they are familiar with some but not all my advisors
No; they are unfamiliar with/haven't met any of my advisors
Business Succession Planning
Does your business have a documented succession plan in place?
Yes
No
I don't know
I have a business contingency plan in place that allows for our private business to continue to thrive even if I am incapacitated or deceased.
Yes
No
I don't know
What is your ideal timeline for a transition/sale of your business?
In the next 24 months
Within 3 - 5 years from now
More than 5 years from now
Would you like to maintain a leadership role within your business after its sale?
Yes
Maybe
No
Do you have an idea or vision for what you'd like to do post-transaction?
Yes
No
Do you foresee remaining in your current city of residence post transaction?
Yes
No
I don't know
Is your spouse/partner employed?
Yes
No
N/A
Will they remain employed after a business transaction?
Yes
No
Have you thought about what it will be like to transition control of your business to a 3rd party?
Yes, I have thought about this a lot
I've thought about this a little bit
I haven't thought about this at all
Are any family members or relatives currently employed by the business?
Yes
No
Rate your level of confidence in your management team's ability to continue the legacy and success of your business?
Confident
Somewhat confident
Not confident / unsure
Additional Information
Does your company have a clear mission statement and established core values?
Yes
No
Somewhat; could be more clearly defined
How long has your company been in business?
Less than 5 years
5 - 10 years
10 - 20 years
More than 20 years
Are you an original owner/founder/shareholder in the company?
Yes
No, but a family member was
No
Do you have hobbies, interests, charitable efforts, or other professional endeavors that you would like to devote more time to post-transaction?
Yes
No
Not currently, but I plan to pursue new interests post-transaction
Do you have a network of business owner friends, colleagues, or other contacts that have gone through a sale transaction with their own companies?
Yes
No
Have you talked with other business owners about their experience in selling all or a portion of their companies?
Yes
No
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