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.

Wealth Analysis Tools & Reporting

Mr. Marcus is a successful entrepreneur with multiple wealth managers, an active interest in alternative investments, and a net worth of over $100 million. The complexity of Mr. Marcus’ extensive holdings meant that he received a mountain of statements and paperwork from a variety of sources, but did not have a high level summary of his investments at his fingertips, which hindered his ability to make decisions. If a wealth manager recommended a tactical reallocation, for example, Mr. Marcus was unable to accurately assess how that change would impact his overall financial picture.

JDJ’s services are a perfect fit for Mr. Marcus’ needs. JDJ organized and analyzed Mr. Marcus’ investments and provided him a detailed picture of his entire portfolio, including actual asset allocation compared to target allocation, and fair market value. JDJ also provides Mr. Marcus a quarterly report that summarizes his net worth, including balance sheet, profit and loss, cash flow, and capital commitments. These tools give Mr. Marcus the comprehensive view of his finances he needs to make informed decisions.

When Mr. Marcus determines what new investments he wants to pursue, JDJ does the time-consuming job of completing the necessary forms and paperwork. Working with JDJ enables Mr. Marcus to manage his personal finances with the same strategic approach he uses to run his company. Mr. Marcus calls his decision to work with JDJ “one of the soundest business decisions I've ever made.”

Lifestyle Management

Mr. King owned a luxury condo in Boston that had a full-service concierge. When he decided to purchase a summer home, Mr. King 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 and arranged for insurance. We even introduced him to an event planner to throw a housewarming party.

In addition, JDJ managed the hiring of the vendors and domestic staff, including the housekeeper, landscapers, cleaners, and caretakers. We developed, implemented, and currently oversee a household maintenance calendar and vendor list, including the seasonal open and close, 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.