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. It can include routine tasks to maintain or improve upon a strong financial position, which are generally rules of thumb that tend to apply regardless of your current situation. However, there are also situational strategies that you may consider given our current environment of potentially changing taxes, legislation, markets, the economy, and more. As we approach the end of 2021, it’s as important as ever to fine-tune your year-end estate and tax planning to make sure you consider both routine and situational strategies, helping to best position yourself not only for this year, but for times ahead.

Please see important disclosures at the end of the article. 

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