Personal Accounting and Net Worth Reporting and Investment Oversight and Administration

Mr. Edward was a very busy man with a family, two homes and multiple business ventures. As one of his ventures evolved, the complexity of Mr. Edward’s day-to-day activities increased. JDJ was introduced to Mr. Edward by his attorney to assist with bill paying, net worth reporting and other personal accounting tasks, allowing Mr. Edward to devote his time to his family and business.

Anticipating a liquidity event for one of his businesses, JDJ collaborated with Mr. Edward and his investment advisor to design an investment plan to support Mr. Edward’s wealth transfer intentions and address his income needs. Thanks to the diligent work of JDJ and the team of advisors, when Mr. Edward realized the gain on his venture, the transaction occurred in a tax efficient manner and the proceeds were seamlessly transitioned into investments reflecting the agreed upon portfolio strategy.

As Mr. Edward’s wealth increased due to the success of his business ventures, it became apparent that he needed a new estate plan. Working with his tax advisor, estate attorney, and JDJ, Mr. Edward created an updated estate plan that reflected his family and philanthropic wealth transfer goals. JDJ helped execute the plan, handled the re-titling of assets and today provides ongoing trust administration and accounting services.

Budgeting and Cash Flow Planning

Ms. Gray seemed to have it all; substantial wealth, excellent health and a partnership with JDJ that allowed her to enjoy the prosperity she had earned.

But there was one problem. Her son Bill was inexperienced with cash management. Consequently, he was in serious debt from credit cards, multiple refinancings and personal loans from his mother. As she often did, Ms. Gray turned to JDJ. Not only were we her trusted advisors, we were also an objective party.

JDJ saw the problem as twofold. First, we put Bill on a strict budget, controlled his funds, took over paying his bills and negotiated with his creditors. The second task was more challenging. We had to teach him to appreciate finances and to be fiscally responsible. We trained him on a personal financial management software program and stressed the importance of keeping it up to date. We showed him how to create and manage a budget; and we demonstrated the long-term value of not spending beyond his means, but instead saving and planning for the future.

JDJ imparted a level of insight and expertise that a family member would have had difficulty delivering as impartially or as patiently. As a result, Bill is now well on his way to his own financial independence.

Trust and Estate Administration

Mr. Jones had a complicated estate plan consisting of multiple trusts. In addition, he had a disabled child who would benefit from a special needs trust. Mr. Jones asked JDJ to help administer the family trusts and assist with the creation and administration of the special needs trust.

For the family trusts, JDJ organized the trust documents, created abstracts, listed and scheduled various administrative tasks and created a separate accounting for each entity in order to track income, expenses and capital values.

For the special needs trust, JDJ collaborated with counsel in drafting the trust document and obtaining appropriate public assistance for the disabled child. We also assisted with the investment plan, providing data the investment advisor needed to construct a portfolio that would produce current income but preserve capital for the child’s anticipated life expectancy. Today, JDJ provides ongoing bookkeeping for the trust and works closely with the trustee, processing distributions and acting as the family’s liaison with various medical and personal care professionals.

Tax Planning and Preparation Assistance

It was September 30^th and Ms. Murphy’s tax accountants desperately needed long overdue information to complete her very complicated tax return by the October 15^th deadline. Recently separated from her spouse and in a new demanding job, Ms. Murphy knew that she needed help in order to locate the necessary documents and information in time.

Upon hearing about JDJ through a close friend, Ms. Murphy turned to JDJ for assistance. We met with Ms. Murphy to obtain the documents she had accumulated to date, and we walked her through a series of questions designed to gather other pertinent tax sensitive information (such as personal gifts and charitable donations). We also met with Ms. Murphy’s tax accountant. Using the prior year tax return, as well as information obtained from the client and tax accountant, JDJ established a checklist of all her investments to ensure that we would be able to track what was still needed. Where there was missing information, JDJ called investment managers and private investment companies to obtain 1099s and K-1s. We closely examined investment and banking statements to identify deductible expenses and even called the town clerk where Ms. Murphy resided in order to get real estate tax information. With JDJ’s help, the tax return was filed correctly and on time.

Ms. Murphy continues to work with JDJ and now takes advantage of our Personal Accounting and Net Worth Reporting, Investment Oversight and Administration and Household and Personal Property Management services as well.

Records Management and Organizational Strategies

Mr. Brown had a passion for collecting artwork, photography and jewelry. While in a meeting with his investment advisor, Mr. Brown mentioned that he would like to have a complete inventory of his household belongings for estate and insurance purposes. The advisor, having already worked with JDJ, introduced us to assist with this need.

JDJ began with a walk-through of the entire house with Mr. and Mrs. Brown to gather information and take photographs. Using a software program designed to capture and organize this information, JDJ presented the Browns with a household inventory binder. The binder included detailed information and photographs of every item, as well as valuation reports that could be passed along to their insurance broker and we also gave him a copy of the software database for his own use.

This project led to JDJ working with Mr. Brown to establish a personalized filing system in his home. JDJ continues to maintain the Brown’s household files each year and is available to assist with other household projects.

Household and Personal Property Management

Mr. King owned a luxury condo in Boston that had a full-service concierge. When he decided to purchase a summer home, he asked JDJ to assist him with the real estate transaction and take care of the household management of the property.

JDJ coordinated the entire purchase process. We organized the inspection, reviewed legal documents, arranged for insurance, and filed registrations. We met the vendors that served the house prior to the sale, including the housekeeper, landscapers, cleaners and caretakers. In the end, we achieved a seamless transition, retaining those who best suited him and replacing those who did not. Once all of the appropriate vendors were in place, JDJ developed a household maintenance calendar and vendor list, including the seasonal open and close, and now implements and oversees it to keep the property in good working order.

During the season, when Mr. King is there, JDJ coordinates with the caretaker to make sure the house is open, linens and towels are fresh and clean, and the refrigerator and cabinets are well stocked.

Concierge and Lifestyle Management

After deciding to host a reunion weekend for his large extended family, and offering to take care of all the arrangements himself, our client Mr. Smith soon realized how stressful, complicated and time-consuming that would be. Feeling overwhelmed, he turned to JDJ for assistance.

Since they had only a weekend reserved for the reunion, creating an interesting and comprehensive itinerary would be a challenge. JDJ managed to produce a detailed and successful program of events. Flights and hotel rooms were booked, greeters were arranged to welcome people at the airport and day-to-day transportation was coordinated. JDJ assembled welcome gifts for each guest and worked with caterers on various meals throughout the weekend, ranging from an elegant private dinner to a beach party clam bake. We also organized a private yacht outing and arranged historic tours around Massachusetts. For the final day, JDJ coordinated a spectacular outdoor farewell party at the Smith residence.

Having JDJ take on the planning of every aspect of the weekend relieved the Smiths of the stress of having to worry about the details,and instead allowed them the time to fully enjoy their family’s visit.

Eldercare Services

JDJ had been working with Mr. Black for several years when he enlisted our help on behalf of his elderly uncle, Sam. Sam had been a prominent attorney in the Boston area and was an extremely independent and private bachelor, making it a challenge for Sam to accept help.

JDJ knew it would take a while to gain Sam’s confidence. We began by organizing the volume of old documents and papers he had, and then took over bill paying. As Sam began to trust JDJ, we were able to introduce a geriatric care manager to oversee his medical care and find a companion.

Eventually Sam and Mr. Black discussed Sam simplifying his living situation by moving into a retirement community. JDJ helped Sam locate a community that best suited his needs and sorted through his collections with him so that he could decide what to take, what to store, what to sell and what to give to family.

Mr. Black is relieved that Sam’s life has been simplified and that his finances are in order, allowing Sam and his family to spend quality time together doing the things they enjoy.