Estate planning can be viewed as a tax-focused financial necessity for those with significant wealth. We believe that estate plans can also provide an opportunity for meaningful family engagement about shared vision and purpose as well as individual values and goals. An effective estate plan entails clear communication about the intent behind these gifts, so that recipients understand and appreciate the purpose of the inheritance, fostering a sense of responsibility and stewardship while also freeing them to use inherited wealth to enhance their lives.

As a follow-up from our June webinar series Estate Planning Essentials: Integrating the Technical and the Human, this article focuses in on the importance of starting the planning process based on what matters most to your family.

July’s financial markets witnessed a significant shift, driven by cooler inflation data that sparked a rotation from mega-cap stocks to small caps, real estate, and bonds. While the S&P 500 gained 1.2%, tech giants and the Nasdaq experienced a downturn, contrasting with small caps’ strongest performance since December 2023. The bond market rallied as yields declined, with longer-duration bonds outperforming, while commodities faced headwinds except for gold, which benefited from lower interest rates and a weaker dollar.

Pathstone’s Learning and Development team hosted the 4^th Annual Associate Class Learning Path in Seattle last week.  Having our newest team members from across the country gather in person creates a special opportunity for immersive learning and to build relationships within the firm. Our 32 associate attendees participated in sessions featuring more than 20 “learning ambassadors,” panelists, and speakers, including senior Pathstone leadership. In addition to taking a deep dive into Pathstone’s history, culture, and services, associates engaged in role-specific training sessions and team-building activities.

We believe investing in our people early in their careers plays an essential role in shaping Pathstone’s future leaders and delivering on our promise to be a multigenerational firm for multigenerational families.