Once again, approaching year end we find ourselves in a time of legislative uncertainty impacting current and multi-year tax planning. While the latest House version of the Build Back Better Act has significantly narrowed the scope and potential impact of individual tax changes, the Senate continues to deliberate and negotiate, with no clear path forward. Accordingly, our planning advice remains steadfast – remain focused on executing long-term planning goals, while working opportunistically with advisors as the legislative environment remains in flux. Thoughtful, prudent, and flexible planning will transcend near-term political and regulatory distortions/distractions and serve your family for generations to come. Hence, consider the following opportunistic and strategic planning actions for 2021.

Creating generational wealth brings the opportunity to define a family’s legacy. The creation of that wealth is merely the beginning of the story, and thinking about the chapters to come requires both an understanding of the challenges and responsibilities of being a steward of wealth.  Pathstone is committed to helping our clients create that legacy through education and communication so that the wealth managed today is wealth that lasts generations. Pathstone created FuturePath to facilitate the communication and implementation of wealth stewardship. In 2021 Pathstone hosted several online events and forums and published articles, all of which speak to financial education and advice on creating generations of financial stewards.

In case you missed it, here are 11 great reads from 2021, brought to you by FuturePath.

Equity markets started the month of November strong, but ended on a down note, as fears of a new Covid-19 variant (Omicron) and inflation overshadowed good news on the economy and passing of the jobs act. Equities, Real Assets, and riskier bonds were all down for the month as volatility spiked and the yield curve flattened. Investors flocked to safety as U.S. Treasuries had one of their best months of the year.