Special purpose acquisition companies (SPACs) have been around for decades, but in the spring of 2020, they became an extremely popular alternative route for private companies to go public. The subsequent record-breaking surge in SPAC issuance and merger activity that followed was astounding by all measures and led 2020 to be widely dubbed, “the year of the SPAC.
The long-term impacts of the COVID-19 pandemic are numerous and far-reaching. It will likely take time to fully comprehend how much everyday life has changed since March 2020. From doorstep grocery delivery to virtual meetings, there are positive and negative aspects to which individuals are still adjusting. After living in close quarters through quarantine, it may come as no surprise that many marital partners are considering divorce.
Now is the time to consider both conventional and situational strategies.Routine year-end planning includes income tax, capital gains, annual exclusion gifting, and estate planning considerations.Supplementing your routine strategies with situational strategies can help further enhance your financial and tax positions.A well-coordinated plan is key to utilizing this year’s opportunities and being well prepared for what may come in the future. First and foremost, wealth planning is a process.