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CASH FLOW MANAGEMENT - the
process of monitoring, analyzing, and adjusting your personal or your
business’ cash flow. This includes an analysis and development of
strategies to maintain an adequate cash flow.
JMA
will assist in the development of income and expense plans for clients
desiring structured cash flow counseling in order to facilitate maximum
liquidity and wealth accumulation.
- FINANCIAL STATEMENTS -
preparation of written reports summarizing the financial status of
assets, liabilities, net worth, and cash flow for a stated period of
time.
Personal Financial Statements are an important tool for
identifying and monitoring overall assets, liabilities, and net worth,
as well as, for the evaluation of estate planning goals. They are often
critical when applying for loans, considering business and investment
decisions and in other circumstances such as marital separation or
divorce.
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- TAX PLANNING - tax
projections and planning strategies throughout the course of the
engagement that take into account the tax impact of various
recommendations regarding changes in client circumstances,
compensation, exercise of benefit options, investment gains and losses,
etc.
We will provide any necessary information for income tax return preparation to the client’s accountant.
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- EDUCATION FUNDING -
development of cost projections and funding mechanisms, such as College
529 Plans, and various other investment alternatives to achieve
education funding objectives. We analyze investment options and tax
implications for both the contributors and the beneficiaries of the
funds and assist in implementing the desired plan.
- INSURANCE PLANNING -
review and recommendations regarding life, health, and disability
insurance coverages for the protection of individuals and their
families.
JMA will work closely with the client’s existing insurance providers or will make referrals where appropriate.
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- COMPENSATION & EMPLOYEE BENEFIT PLANNING - review and analysis of compensation and benefits with emphasis toward integrating into all areas reviewed and advised upon. Additional emphasis on financial and tax impact of exercise of options with respect to company benefits offered by employers.
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RETIREMENT PLANNING - analysis of current and projected retirement benefits, development of retirement goals & objectives, and determination of funding methods and investment alternatives to achieve retirement goals.
We will provide guidance on the distribution of retirement assets taking into consideration retirement cash flow needs and tax ramifications associated with those distributions.
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- ESTATE PLANNING - review of current wills, trusts, and estate plans; development of strategies to accomplish client goals and objectives including estate tax planning, gifting, trusts, and other strategies designed to preserve estate values and minimize estate taxes.
JMA will assist with the interim operation and continuation of business interests as well as management of investments held in estates and trusts during and after the estate administration periods.
Note: Legal documents prepared in conjunction with the above services are prepared by outside legal counsel by special arrangement. Fees are determined by scope of services to be performed and are quoted in advance.
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Executorship Advisory Services ~
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- JMA is available to serve as an advisor to Executors of estates and is experienced in dealing with multiple aspects of estate administration, as well as, the demanding duties of Executors in managing complex estates.
- JMA acts impartially in the interest of all parties involved.
Duties of an Executor –
- Preparation of the Estate Inventory
- Application for Probate
- Collection of any monies due
- Payment of any outstanding debts and expenses
- Preparation of tax returns for the Deceased and The Estate
- Interim Management of Estate Assets
- Transfer of Estate Assets to the Beneficiaries according to the directions of the Will
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Dispute & Litigation Support ~
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JMA Financial Advisors is experienced in the provision of financial counsel with respect to analysis of financial issues and structure for settlements both during and after the dispute resolution process. This counsel is available for complex divorce, business, and other types of cases.
We will assist in providing this area of counsel to clients and their legal advisors with an emphasis on cost containment and preservation of assets whether through alternative dispute resolution or through litigation.
Because of our background in mediation and litigation support, we are often able to help clients mitigate the financial and emotional toll encountered by protracted litigation. Many times, these goals are accomplished through financial “work outs” rather than through expensive, emotional, and time-consuming legal combat.
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