Spouse's Passing

Latest Winter 2017 Quarterly Newsletter In this issue Brian Jones provides our outlook on the markets for the balance of 2017, Kevin Donovan reminds us all why bonds are integral component inside any portfolio and Jessica Ness provides an income tax reference for 2017. January 2017 Audio Update Join Tracey, Brian, Kevin and Tim as they discuss CJM’s expectations for the markets in 2017, a discussion on small cap equities as well as Tim’s thoughts on income distributions in retirement. 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).