Over the last 9 years John has been a the business operations manager and agent for large estates, trusts, partnerships, and a significant conservatorship. As well as a licensed Professional Fiduciary working in both Court appointed and private sector cases.
Between his life experiences as a manager, a business owner and his 9 years of estate, trust, partnership and conservatorship management, John is experienced, and capable of handling complex estates, trusts, conservatorship and guardianship, of nearly any size.
Assembling the Right Team
"The most critical piece of the puzzle is assembling the right Team!"
Each estate is unique. Thorough research into the goals of the estate, the needs and desires of the client, the size of the estate, the complexity of the assets, litigation concerns, real estate, art, etc., is required, to create the right plan, and pick the right team. The more complex the estate, the more you need specialists. When specialists are needed, experience counts. The wrong care specialists, the wrong litigation counsel, the wrong appraisers, the wrong......, is very costly
Professional Fiduciaries manage their clients personal affairs , including daily care, housing and medical needs, and finances, ranging from paying bills to investments and trusts.
Tax accounting uses chart of accounts to classify entries. The court uses schedules to classify entries. The conversion process from chart of accounts to court schedules creates volumes of intricate work. The delays and burden of converting tax accounting into court schedules, in arrears, is virtually eliminated.
John uses "class accounting" to provide a second classification of bookkeeping data. The significance of the second classification is that when a check is written, when a deposit is made, when a credit card or ATM purchase is posted, the data is posted to the chart of accounts for tax accounting and to the schedule for court accounting.
Brokerage and investment accounts require proper direction, close monitoring and detailed chronicling for court accountings. Evaluating these accounts should be a continuous process, however, long term and recent performance need to be closely evaluated during the process of reconciling monthly statements. .
John uses a 2-step approach for the monthly evaluation and auditing of brokerage and investment accounts. First, he reconciles both the statement's balance, and it's change in value. Second, he measures performance against the prior month and original cost . These combined steps provide three outcomes. They reconcile the account, they provide a clear understanding of performance, and they identify the entries necessary for court accounting, (gains or losses on sale, change of form, etc.)