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1990-1997 Donald J. Jonovic, Ph.D., and Pamela J. Jonovic. All rights reserved.

Planmaker (2nd Edition) Workbook
Donald J. Jonovic and Pamela J. Jonovic

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In the following example, four people from the same family have used the Goal Setter's Individual Rating Sheets in the Appendix to rate the importance of the 10 listed goals. The averages in the "Average" columns are then used by each individual to see how close he or she is to how the family as a whole feels about the importance of the issue. The average in the "Column Average" columns help each individual see how his or her rating of the importance of planning overall relates to everyone else individually and to the family group as a whole.


Initial the column you are using: Dad Mom Son Wife Average
1. Assure an orderly transfer of assets to the next generation 6 7 10 (1) 8 7.8
2. Assure the continuation of the family business for the next generation 9 7 8 5 7.3 (2)
3. Reduce, to the extent possible, all future growth of present owner's estate 5 3 9 8 6.3
4. Lower combined estate settlement costs as much as possible 6 5 9 7 6.8
5. Provide a secure income to the surviving members of the family 7 9 5 4 6.3
6. Recognize and reward appropriately the contribution of working successors 6 7 10 8 7.8
7. Maximize income for the present owners 6 7 10 8 5.8
8. Provide a secure income in retirement for the present owner 9 10 7 5 7.8
9. Provide for the education costs of children and / or grandchildren 5 5 9 9 7.0
10. Provide business opportunity for the next generation 10 10 5 3 7.0
Column Total(s): 70 71 77 60 69.9
Column Averages (Totals/10): 7.0 7.1 7.7 6.0 7.0


(1)Looking down the SON'S column, we can see that his average rating for all the issues is 7.7, the highest of everybody's and significantly higher than his wife's reliative low rating of 6.0. This implies that the successor has the greatest motivation to get the plan completed. The daughter-in-law's relativey low overall importance rating is a "red flag" possibly indicating frustration or disenchantment.

(2) Looking across on GOAL 3, first check the average rating at the far right (6.3). Now look at the individual ratings. The successor and his wife are clearly rate this issue much higher than MOM and DAD, and much higher than the overall average. Performing this kind of analysis for each issue will disclose places where significant disagreement exists. These disagreements should be discussed and clarified as part of the planning process. The GOALSETTER can help you do that.

1990-1997 Donald J. Jonovic, Ph.D., and Pamela J. Jonovic. All rights reserved. No duplication without written permission
 
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