Young Family

Latest Spring 2017 Quarterly Newsletter In this issue, Tracey Baker, CFP, reflects on current markets as we head into the summer months. Kevin Donovan, CFA, compares performance of "Actively" vs. "Passively" managed funds. Parker Trasborg, CFP, discusses the implications of several common estate planning pitfalls. Read about the tax related benefits that can arise from making Qualified Charitable Distributions. Jessica Ness, CFP, talks about our Day of Service when we partnered with one of our favorite local service organizations for the second year in a row. See how our clients have two different programs to track their CJM portfolios. January 2017 Audio Update Join Tracey, Brian, Kevin and Tim as they discuss CJMs expectations for the markets in 2017, a discussion on small cap equities as well as Tims thoughts on income distributions in retirement. Newsletter & Podcast Archive

The Situation

When Brian and Emily learned that were expecting their first child, their excitement was soon tempered by the realization that they now had to plan for a family of three. Both Brian and Emily were busy young professionals; between work, travel, and preparation for their first child, both realized that they did not have the time to devote to managing the complexities of their day-to-day financial affairs. After meeting with CJM, it was evident that neither Brian nor Emily had group life insurance coverage that was sufficient to protect their current lifestyle, and they did not have an estate plan in place. Providing for a college education was also important to them, but they were unsure of what options were available and where to start.

The Solution

Brian and Emily were able to obtain sufficient, cost-effective life insurance coverage through the help of CJMs insurance team. This ensured that they would be able to maintain the lifestyle they have worked hard to build in the event something happened to one or both spouse(s).

Their CJM advisor also discussed the various documents needed to establish a comprehensive estate plan and connected Brian and Emily with an experienced estate planning attorney to help draft the appropriate documents, which included a trust to proactively ensure that their child will receive any wealth at a pre-determined and appropriate age. With Brians and Emilys permission, CJM was able work with their attorney to provide organized financial documents to ensure a timely, seamless process.

Unsure of how to begin saving for college, their CJM advisor walked them through the various funding strategies and techniques available to them. By having this discussion, the CJM team was able to run projections to create a clear, manageable plan of action for Brian and Emily to meet their objective. CJM also established separate 529 college savings plans for both Brian and Emily, maximizing the current tax advantages for funding their states 529 plan.

Value To The Client

Brian and Emily now how the piece of mind that the building blocks are in place to provide an education for their child and the appropriate legal measures have been taken to protect and preserve their wealth should happen to either of them. Funding their childs college education is now a much less daunting goal and they have been able to incorporate excited family members into their planning. The CJM professionals were able to help Brian and Emily prioritize and lay the foundation towards achieving their goals, while protecting them from unforeseen risks.

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 clients particular issue(s).