Life never seems to slow down, and only gets busier as we age.  Sometimes it is tough to keep up and may feel overwhelming. Whether you are a newly appointed trustee or a hard-working person with little time to spare, we can help coordinate and simplify your financial affairs.

As time goes on and you settle into a routine, it is not uncommon to lose track of how your bills are being paid, which expenses are linked to which credit card or how certain accounts are being invested.  Trying to sort through stacks of paperwork can be frustrating, and for trustees who have a fiduciary obligation to ensure the financial picture is in order, it can seem daunting.  Depending on a person’s financial picture and level of assistance needed, our services include:

• Arranging for the monthly, quarterly and annual payments of household bills;
• Preparing financial reports and spreadsheets which categorically break-down how income is being spent;
• Preparing monthly and annual budgets and reports and help with allocating income and cash flow;
• Locating and reconciling accounts with banks, investment brokers and private depositories;
• Tracking and verifying investments including tax costs and gains and losses;
• Receiving all bills and other documents directly; and
• Arranging for payments to tax authorities including calculating and arranging for quarterly tax deposits.

Programs such as Excel and Quicken are utilized to ensure precise accounting and organization.  After inputting data for a number of months, you will get a sense of spending habits and whether there are any superfluous or unnecessary expenses being paid.  Detailed reports can also be prepared incorporating all sources of income and expenses with adjustments for inflation and average rates of return.  These “spend down” reports give a general idea as to whether the current lifestyle is sustainable and whether there will be sufficient assets for retirement.  This service is equally valuable for a trustee with discretionary distribution capabilities since the trustee is able to make a well-informed decision about distributing income or invading principal on behalf of a beneficiary. Given a trustee’s high standard of care and ability to delegate responsibilities related to the trust, this service is invaluable.

Utilizing these services provides accountability and reliability. Over time, through proper management and elimination of wasteful spending, your financial portfolio should improve. If you think you may benefit from our services, please feel free to contact us to arrange a free consultation.  We have offices in mid-town Manhattan and Wayne, PA and will make every effort to accommodate your needs.