Who else knows about the money?
β Goes to identifying vultures looking for a handout
Will you share these funds with anyone else?
β Goes to gift tax implications
What do you want to do with the money?
β Any big purchases contemplated? Car? Boat?
Can you commit yourself to living within a budget?
β Does the client have discipline? Will he live within financial guardrails?
Will you continue working?
β If not, what will you do with your time?
Will you pay off your home? Purchase a new one?
β Something reasonable, or a mansion?
How will you use these funds to secure your future?
β Planning any long-term investments?
Planning to fund a child's (or your) education?
β Goes to tax-advantaged 529 plans.
What will be your income tax situation after receiving funds?
β Does the client understand how taxes work?
