This document outlines a long-term childcare project to financially plan for the submitter's son in case of tragedy or absence. It includes appointing trustees to manage investments and accounts, obtaining life and health insurance policies, establishing a revocable will, and selecting caretakers through a legal process to ensure the son's long-term security, education, health, wellness, safety and comfort. The project budget totals $13,981.25 and runs from June 23 to October 19, 2009, involving milestones like consulting financial and legal advisors, selecting insurance and establishing trustees. The goal is to provide a trusted support system for the son in the submitter's absence.
2. Executive Summary Proposed plan for long-term childcare for my son Provide my son with a steady and secure future with Financial Planning for long-term childcare Project start & end dates – June 23 – October 19, 2009 Total projected cost of Project - $13,981.25 Plus $2,500 Contingency Fund Benefits of the Project – long-term security to achieve good education, health, wellness, safety, and comfort Purpose – To carefully, thoroughly and financially plan for long-term childcare for my son in case of tragedy or in my absence Personal & beneficial reasons for developing a Contingency Plan: To provide my son with a secured and prominent future To ensure a trusting and secure long-term support system for my son in my absence 2
3. resources Financial Planning Resources: ($5,982.50) Financial Planner w/Wealth Management Associates of America– To manage, monitor & control my Portfolio (Investments & Estates) Bank Appointed Trustee w/USAA Federal Savings Bank – To manage, monitor & control Trust and regular Savings Accounts & 529 College Fund Legal Resources: ($7,943.75) Paul Hastings et al. LLP - Attorneys representing Project Planner & in charge of finalizing Project Jonathan Kane & Associates P.A. - Attorneys representing Trustees Otterbourg Steindler et al. P.C. – Attorneys representing Silent Trustee Trustees (Agreed Upon Caretakers): (See legal resources above – ($1,133.75)) Lourdes Cesar – Primary Trustee Marcelle Cesar – Secondary Trustee Alan Sajous – Contingent Trustee 1 Fabrice Laguerre – Contingent Trustee 2 Paule Lovince – Silent Trustee Other Resources: ($55.00) USAA Life Insurance - (a) Whole Life Insurance & (b) Home Life Insurance Liberty National Insurance Company - (a) Accidental w/Burial Insurance & (b) Monthly Income Insurance 3
4. Milestones/schedule Long-term Childcare Project Planning for my son - June 23, 2009 Consultation with Financial Planner - June 23, 2009 Establish financial planning services with Financial Planner - June 25, 2009 Communication with/research life insurance companies - June 29, 2009 Selection of life insurance companies - July 2, 2009 Consultation with attorney Re: potential recorded Revocable Will - July 17, 2009 Establish Bank Trustee (appointed by USAA) - July 29, 2009 Selection of life insurance policies - August 5, 2009 Medical examination with insurance physician/nurse - August 14, 2009 Establish Silent Trustee (confidential) – August 27, 2009 Establish Caretakers/Trustees (legal expenses paid in full by PM) – August 28, 2009 Meeting with attorney regarding details and terms of Will to be recorded, Power of Attorneys and Silent Trustee to be included - September 9, 2009 Effective Date of life insurance policies - October 1, 2009 Effective Date of recorded Revocable Will - October 2, 2009 All Stakeholders shall receive Notice of Recorded Revocable Will and copies of Power of Attorney, accordingly - October 19, 2009 4
6. Value-add statement My personal and beneficial reasons for developing this Contingency Plan is to establish and provide my son with a secured and prominent future. I shall establish a trusting and secure long-term support system for my son in case of a tragedy or in my absence. In planning this Project, I am confident that my son shall be provided with a safe environment, good upbringing, secure and prominent future. 6