Joseph Normand Laplante

2019

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What was filed

  • 58

    investments

  • 6

    positions

  • 0

    gifts

  • 0

    agreements

  • 0

    debts

  • 8

    reimbursements

  • 4

    income

  • 2

    spouse income

Named parties

  • Rivier University (non-profit)
  • Georgetown University Alumni Association (non-profit)
  • Southern NH Health System (non-profit)
  • Federal Judicial Association
  • American Law Institute
  • Georgetown University Law
  • New York University School of Law
  • Georgetown Law - teaching
  • University of NH School of Law - teaching
  • St. Christopher School (Development Office, parochial school)

As filed

Santander Bank — Interest

Lake Sunapee Bank — Interest — Closed

Digital Federal Credit Union — Interest

Northwestern Mutual Brokerage Account (formerly American Mutual Funds)

Europacific Grown Fund - A — Dividend

The Growth Fund of America Class A — Dividend — Sold (part)

Northwestern Mutual Roth IRA

The Growth Fund of America Class A — Dividend

Northwestern Mutual IRA

The Bond Fund of America Class A — Dividend

The Growth Fund of America - Class A — Dividend

Northwestern Mutual Roth IRA

The Bond Fund of America Class A — Dividend

The Growth Fund of America Class A — Dividend

Northwestern Mutual IRA

The Bond Fund of America Class A — Dividend

The Growth Fund of America Class A — Dividend

Investments

Carta Molinari LLC — Donated

Coverdell ESA's (Northwestern Mutual Education Savings)

U.S. Government Securities Class A — Dividend — Sold (part)

The Growth Fund of America Class A ) — Dividend

529 Plans

American Balanced Fund Class A — Dividend

The Growth Fund of America Class A ) — Dividend

American Funds U.S. Government Money Market Fd Class A — Dividend — Sold (part)

American Funds U.S. Government Money Market Fd Class A — Dividend — Sold (part)

U.S. Government Securities Class A — Dividend — Sold (part)

American Funds U.S. Government Money Market Class A — Dividend

Santander Bank — Interest

Lake Sunapee Bank — Interest — Closed

Digital Federal Credit Union — Interest

Northwestern Mutual Brokerage Account (formerly American Mutual Funds)

Europacific Grown Fund - A — Dividend

The Growth Fund of America Class A — Dividend — Sold (part)

Northwestern Mutual Roth IRA

The Growth Fund of America Class A — Dividend

Northwestern Mutual IRA

The Bond Fund of America Class A — Dividend

The Growth Fund of America - Class A — Dividend

Northwestern Mutual Roth IRA

The Bond Fund of America Class A — Dividend

The Growth Fund of America Class A — Dividend

Northwestern Mutual IRA

The Bond Fund of America Class A — Dividend

The Growth Fund of America Class A — Dividend

Investments

Carta Molinari LLC — Donated

Coverdell ESA's (Northwestern Mutual Education Savings)

U.S. Government Securities Class A — Dividend — Sold (part)

The Growth Fund of America Class A ) — Dividend

529 Plans

American Balanced Fund Class A — Dividend

The Growth Fund of America Class A ) — Dividend

American Funds U.S. Government Money Market Fd Class A — Dividend — Sold (part)

American Funds U.S. Government Money Market Fd Class A — Dividend — Sold (part)

U.S. Government Securities Class A — Dividend — Sold (part)

American Funds U.S. Government Money Market Class A — Dividend

Trustee, Vice Chair (Board of Trustees), Rivier University (non-profit)

Governor (Board of Directors), Georgetown University Alumni Association (non-profit)

Trustee (Board of Trustees), Southern NH Health System (non-profit)

Trustee, Vice Chair (Board of Trustees), Rivier University (non-profit)

Governor (Board of Directors), Georgetown University Alumni Association (non-profit)

Trustee (Board of Trustees), Southern NH Health System (non-profit)

Reimbursement — Federal Judicial Association — 4/15/19 - 4/16/19 — Dallas, TX — Federal Judges Association Annual Meeting — Travel, meals, hotel

Reimbursement — American Law Institute — 5/19/19 - 5/24/19 — Washington, DC — American Law Institute — Travel, meals, hotel

Reimbursement — Georgetown University Law — 9/20/19 - 9/21/19 — Washington, DC — Judicial Interpretation Institute — Transportation, meals, hotel

Reimbursement — New York University School of Law — 9/26/10 - 9/27/19 — New York, NY — Civil Jury Project — Transportation, meals, hotel

Reimbursement — Federal Judicial Association — 4/15/19 - 4/16/19 — Dallas, TX — Federal Judges Association Annual Meeting — Travel, meals, hotel

Reimbursement — American Law Institute — 5/19/19 - 5/24/19 — Washington, DC — American Law Institute — Travel, meals, hotel

Reimbursement — Georgetown University Law — 9/20/19 - 9/21/19 — Washington, DC — Judicial Interpretation Institute — Transportation, meals, hotel

Reimbursement — New York University School of Law — 9/26/10 - 9/27/19 — New York, NY — Civil Jury Project — Transportation, meals, hotel

Income — 2019 — Georgetown Law - teaching — $15,000.00

Income — 2019 — University of NH School of Law - teaching — $3,500.00

Income — 2019 — Georgetown Law - teaching — $15,000.00

Income — 2019 — University of NH School of Law - teaching — $3,500.00

Spouse's income — 2019 — St. Christopher School (Development Office, parochial school)

Spouse's income — 2019 — St. Christopher School (Development Office, parochial school)

The lack of clarity with respect to lines 30, 31, 32 and 34 in Part VII (referring to funds not named in the 2017 Disclosure) in Part VII is attributable to (a)

liquidations of and (b) fund changes made in education savings accounts. I have used those mutual fund-based accounts to save money for, and only for education

purposes. I maintain six college education accounts, three "529" accounts and three "Coverdale ESA" education savings accounts. All of these college savings

accounts were constituted by various mutual funds from the "American Funds" family of mutual funds.

In recent years, with dependents attending and graduating from a private Catholic high school and all three moving on to post-secondary education, I have sold

shares of those accounts to pay for college tuition at Georgetown University and Bishop Guertin High School. There have been occasions when I have liquidated

certain funds to pay tuition, and other times to simply re-allocate the education savings to higher or lower risk funds for later-arising obligations, such as potential

graduate school. This created the impression of multiple mutual fund transactions or liquidations where, in reality, I was merely selling funds to pay tuition and

related college costs, or just changing funds within the American Funds family of funds for my education savings accounts.

The appearance (but not the reality) of further complicated transactions was created when I occasionally utilized funds in an education account maintained under

one dependent's name to pay the tuition for a different dependent. My funds manager also believed it was necessary to effectuate those transfers through my

American Funds money market account, which appeared to add yet another layer to these transactions. This is permissible under the rules and regulations

governing these accounts.

Unfortunately, I believe all of this activity - all involving saving for and paying for post-secondary educations - unnecessarily created confusion for me and for my

accountant as we prepared by 2018 Financial Disclosure Statement. (Similar confusion had been created in prior years.) My accountant and I worked together

to try to address the confusing tangle of transactions, but we had some difficulty following the chain based on the documents provided by my account managers.

We also consulted with my financial planner who employs the account managers, but it appears that our efforts did not result in a sufficiently clear Part VII of my

Disclosure.

What I can certify, without any question in my mind, is that ever dollar liquidated for any of these 529 or Coverdale accounts was utilized lawfully to pay

educational tuition and authorized related expenses, or simply transferred to a different American Funds 529 or Coverdell fund within my existing education

saving structure for future use in the same way.

List of transactions:

04/22/2019 Sold $13,000.00 of Growth Fund of America (AGTHX)

08/09/2019 Exchanged $34,209.93 from US Government Securities Fund (CGTAX) to American Funds US Government Money Market Fund (AAFXX)

08/09/2019 Exchanged $142,473.34 from American Growth Fund (CGFAX) to American Funds US Government Money Market Fund (AAFXX)

08/15/2019 transferred $15,000.00 from US Government Money Market (AAFXX) from one 529 to another 529 account

11/01/2019 transferred $2,500.00 from US Government Money Market (AAFXX) from one 529 account to another 529 account

08/15/2019 transferred $15,000.00 from US Government Money Market (AAFXX) from one 529 account another 529 account

11/01/2019 transferred $2,500.00 from US Government Money Market (AAFXX) from one 529 account another 529 account

01/03/2019 Sold $6,026.00 of American Funds US Government Money Market (AAFXX) and disbursed out of account to Georgetown University

08/19/2019 Sold $29,412.00 of American Funds US Government Money Market (AAFXX) and disbursed out of account to Georgetown University

11/06/2019 Sold $2,500.00 of American Funds US Government Money Market (AAFXX) and disbursed out of account to Joseph Laplante directly for college

related expenses

01/22/2019 Sold $7,262.50 of American Funds US Government Money Market Fund (AFAXX) and disbursed directly to Bishop Guertin High School

Trades placed in 2018 within one 529 account were put into a money market, which supplemented another 529 account having been depleted from college related

expenses. Transfers occurred from one 529 account to another 529 account which are both under the same ownership of Joseph Laplante, and then distributed out

for college expenses throughout 2019. Additionally, on 12/30/2019 - one 529 account, had a trade occur to free up cash for the same purpose of funding college

tuition into 2020, to not concentrate all distributions from one 529 account.

This is a copy of a public record, reproduced as it was published. It is not legal advice, and it may not be the version a court would rely on. Check the official source before you cite it.

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