Establishing your existing financial situation is the very first step in your financial planning exercise.
Details of all your assets held, loans, interest in trust, property, existing superannuation funds, actual and potential liabilities, income from all sources, and your present tax situation should be compiled and tabulated for your analysis.
Details of your daily living expenses, any likely commitments such as children tuition fees, parents's medical expenses, any intended purchases should tabulated and computed to estimate your current savings ability.
Your present net worth details should also include all existing insurance policies and coverage.