LOS ANGELES, Oct 1, 2007 (PrimeNewswire via COMTEX News Network) - Financial planning always is a good idea. But sometimes good ideas are put off until it is too late to do any good.

"With only three months left in the year, now is the time to take advantage of planning opportunities that may be missed by waiting until 2008," says Roger Stinnett, tax and financial planning manager, City National Bank.

Financial Planning Week(tm), which is observed October 1-7, is the perfect time to implement strategies that can help improve an individual's or family's financial situation. Created by the Financial Planning Association(r), Financial Planning Week serves as a reminder of the significant impact sound financial planning can have on achieving long-term financial goals.

"Three key areas of planning everyone should review annually are retirement planning, tax planning and estate planning," Stinnett said. "By creating a checklist of issues to review in each category, you can help ensure you stay on track."

Stinnett recommends asking yourself the following questions, and checking with your financial advisor to find the best solutions before year-end:

Retirement Planning
* Are you contributing to your 401(k) at a rate that ensures you are getting the maximum match from your employer?

* Have you reviewed the overall asset allocation of your retirement plans (e.g. 401k, IRA, Roth IRA)?

* Do you know if you'll have enough saved to retire when and how you want to?

Estate Planning

* Has your family experienced any significant events that require you to update your estate plan?

* Do you have executed copies of all your important documents in a safe place (consider wills, trusts, powers-of-attorney and life insurance policies)?

* Have you reviewed your banking, brokerage and investment accounts to ensure they are titled according to your estate plan?

Tax Planning

* Have you estimated your income tax liability in light of the reduced Alternative Minimum Tax (AMT) exemption for 2007?

* Have you considered ways to reduce your tax liability, such as making charitable gifts by year-end?

* Have you considered rebalancing your child's investments in 2007 before the 2008 capital gains rate increase caused by the new "Kiddie Tax" laws?

"At City National Bank, we recognize that early and regular planning opens the door to many opportunities for our clients," says Stinnett. "Our customized financial planning services help our clients achieve their financial goals - whether that means finding ways to limit their tax liability today, or ensuring they can transfer the maximum amount to future generations tomorrow."

About City National

City National Bank is the wholly owned subsidiary of City National Corporation (NYSE:CYN). It is backed by $15.8 billion in total assets, and provides banking, investment and trust services through 62 offices, including 15 full-service regional centers, in Southern California, the San Francisco Bay Area, Nevada and New York City.

The company and its nine majority-owned investment affiliates manage or administer more than $57 billion in client investment assets, including $35.9 billion under direct management.

For more information about City National, visit the company's Website at cnb.com.

The City National Bank logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=3143

This news release was distributed by PrimeNewswire, www.primenewswire.com

SOURCE: City National Bank

City National Bank
Media Contact:
Daniel Minkoff