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Month: September 2021

The Looming Government Shutdown And Debt Ceiling

Wait ‘til I get my money right Then you can’t tell me nothing, right? Excuse me, was you saying something? Uh-Uh, you can’t tell me nothing      – Can’t Tell Me Nothing by Kanye West Bill Stone Chief Investment Officer If Congress does not act, a debt limit showdown with a possible government shutdown looms on Friday, October 1. In addition, Treasury Secretary Yellen has warned that the Treasury will exhaust its cash and extraordinary measures in October if the debt ceiling is not lifted. Unless the debt ceiling is increased, the U.S. cannot issue more debt. While a possible default on our U.S. debt will be discussed in the news if an agreement is not reached, a default is virtually certain not to happen. This debt ceiling argument is a political fight in which each side thinks it can extract something from the other. According to Strategas Research

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Choose your trustee

PERSPECTIVES IN THIS ISSUE  Estate planning How to choose your trustee If you’ve decided against a corporate fiduciary Core advantages that we bring to the job of trusteeship Retirement planning Smaller RMD’s in 2022 Financial managment “Buy, Borrow, Die” Traditionally, the hot button for estate planning has been the reduction of federal and state death taxes. That tradition has been over for some time, given the increases in the amounts exempt from federal estate tax over the last decade. The 2021 federal exemption stands at $11.7 million, and married couples may double that with routine estate planning. (Note, however, that under current law the exemption falls roughly in half in 2026, unless Congress acts sooner.) Freedom from estate and inheritance taxation doesn’t mean estate planning is no longer needed, it just means that planners will need to find a new hot button to motivate affluent people to take action. The

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