GET READY FOR THIS QUARTER’S WEALTH PLANNING THEME
Let’s get ready to rock your wealth planning needle! We’ll be scheduling your quarterly wealth planning session soon, and our focus will be on the agenda below. Please get ready to ask any questions you have on these items, and to help us refine and improve your planning in these areas.
Q3 ANNUAL ESTATE PLAN & BENEFICIARIES REVIEW/UPDATE:
- Review that your estate plan is current with wishes and any changes in the law or your life
- Check beneficiaries, trust/will instructions, and property titling are coordinated with estate plan
- Review powers of attorney, living wills, and health care powers are fresh and aligned with wishes
- Verify you will avoid expensive probate
- Address risks of guardianship and how to control them.
- Address charitable giving, special needs, children’s 529 or other education funding
- Plan for expected inheritances and estate management duties you may have.
- Involve your children in estate planning if you wish
KEY UPDATES ON THE ECONOMY & MARKETS:
Stocks staged a strong recovery in Q2, with the S&P 500 gaining +15% and finishing near record highs. The Middle East conflict and oil shock that started in Q1 continued for most of Q2, but oil prices fell as the two sides worked toward a ceasefire agreement. Meanwhile, investors’ enthusiasm for artificial intelligence (AI) stocks returned, fueling a rally in semiconductor stocks. As companies reported strong Q1 earnings, the gains broadened beyond technology to include mid-and small-cap stocks. Even as stocks rallied, market conditions continued to evolve. The spring rise in oil prices lifted inflation to a three-year high, and the Federal Reserve signaled a shift from rate cuts to rate hikes. In this letter, we recap the key developments in Q2, discuss the oil reversal and its impact on Fed policy, analyze the rally in semiconductor stocks, and look ahead to Q3.
