Estate and Personal Financial Planning
Pennsylvania CPA Journal › Vol. 75 Nbr. 2, July 2004
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Summary
CPAs who want to solidify their relationship with their clients and successfully tie together all aspects of their clients' planning must take the time and energy to work with their clients on cash-flow planning and budgeting. If "budgeting" sounds hard to sell, try approaching your clients with "goal-based budgeting." The concept is similar to traditional budgeting, but the twist is that the client gets involved. The plan is based on their current living expenses and need to save for the future, as well as their goals, values, and priorities. The following are some areas of focus in goal-based budgeting: 1. Gather historical data on the client's cash flow. 2. Encourage the client to review cash flow on a broader perspective. 3. Revisit the client's goals with them.
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Estate and Personal Financial Planning
CPAs who want to solidify their relationship with their clients and successfully tie together all aspects of their clients' planning must take the time and energy to work with their clients on cash-flo...
See the full content of this document
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