Importance

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Abstract

The present financial planning and advice system allows an advisor to provide proactive, efficient service to clients. An advisor can analyze a client's relationship(s) with his/her family, business and pension to provide overall financial planning and security. The financial planning and advice system includes numerous innovative, coordinated features including, inter alia, demographic and financial data files, a Virtual Executor, a financial Simulator, an Earmarker, a Strategizer, and a Proposal Constructor. For example, Virtual Executor preferably simulates the steps required to settle a person's estate from the moment of death until all property, net of costs and taxes, is suitably distributed to survivors (i.e., surviving family members, etc.). Virtual Executor suitably determines the legal survivors of the decedent, and suitably transfers to financial Simulator the net amounts passing to the survivors. As another example, Financial Simulator not only simulates the results of Virtual Executor disbursement, but it also simulates the combination of the disbursements and the resources already belonging to the survivors before the death occurred.

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First Claim