Spouse's Passing

Latest Fall 2017 Quarterly Newsletter This issue includes some thoughts from the retiring Senior Managing Partner, Tim Jones, as he looks back on his time in the business over the last 30 years. This issue also includes a tribute to Kim McLeland, one of the retired partners at CJM who passed away suddenly earlier this year. We round out the newsletter with articles from Kevin Donovan on investments, Parker Trasborg provides us with his thoughts on buying a new car, and pictures from Halloween. Enjoy! October 2017 Audio Update Dave, Kevin, Tracey and Tim share their thoughts on the markets so far this year, expectations for the remainder of the year, an update on Congressional bills making their way through Congress and finally some thoughts on protecting your credit given the recent Equifax security breach. Newsletter & Podcast Archive

The Situation

When Patricia’s husband passed suddenly in his early 60’s, she was left with a host of financial decisions to make that would have life altering consequences for her. Her husband was a successful CFO at a mid-sized corporation, and rarely during their marriage did Patricia need to worry about financial matters. But with her husband gone, Patricia was now the financial decision maker in her household, and she needed to make some major decisions changes.

The Solution

In this situation Patricia had to make a number of decisions in a very short period of time. Decisions like paying bills, taxes, collection of life insurance, and continuation of health insurance generally must be made within a month or two following a spouse’s death. Other “irreversible” decisions could be put off until things settled a bit and Patricia was emotionally in a clearer frame of mind.

CJM helped create an action plan outlining the items that required her immediate attention and those that were less time sensitive. The team of professionals at CJM advised Patricia on ways to maximize her Social Security survivor benefits, laid out her options surrounding her late husband’s pension and various retirement plans, and implemented a new asset allocation which would provide her with income from the various life insurance policies and her investment portfolio.

In addition, CJM’s team connected Patricia to a counselor who could help her come to terms with the extraordinary loss she had experienced and support her as she learned to adjust to her new reality.

Value To The Client

CJM worked with Patricia to guide her through this emotional time, helping her make sound financial decisions throughout the financial planning process. Patricia is confident that her retirement, although different than originally envisioned, will be secure and that she will have funds available to maintain her lifestyle and pass their legacy on to their children.

More Solutions

At CJM we understand that no two clients are alike and real world problems require practical and timely solutions. The CJM team brings together the best and the brightest in the areas of investment, tax, insurance, financial planning & wealth management to resolve each client’s particular issue(s).