NOVEMBER 2022

The estate and gift tax exemption limit is currently at a historical high. In anticipation of a significant decrease in the established limit in 2026, in our first article we’re taking a look at a few strategies for consideration, in order to leverage this unique situation through tax-efficient wealth transfer. Give us a call if you would like to discuss this further.

While there are always exceptions, in the vast majority of cases it is a bad idea to transfer assets out of a person’s name just before death. One reason is a loss of step-up in income tax basis as a result of the transfer. This may sound very technical, and the step-up income tax basis rules are somewhat complex, but the practical application is fairly straightforward. Understanding it will make it easier to make smart decisions in emotionally fraught circumstances. Our second article addresses these issues.

This month's "What's Happening Now" section shares interesting stories on clever storage ideas in a modern kitchen, how to travel the world with only a tiny bag, and how cruising is catching up with slow travel times.

We'd like to hear from you. Please feel free to contact us by phone at 614-888-2121, toll-free 877-389-2121 or email jchornyak@janney.com with any questions or comments. 

WINDOW OF OPPORTUNITY: LEVERAGING THE ESTATE AND GIFT TAX EXEMPTION

Swings in the financial markets, coupled with rising interest rates and high inflation, may make investing decisions feel challenging, especially if you currently have large cash holdings. Let’s explore some solutions available for cash or cash reinvestment needs, particularly in a rising interest rate environment.

WHY NOT TO USE DEATHBED GIFTS: UNDERSTANDING YOUR OPTIONS WHEN ESTATE PLANNING 

The pandemic put deathbed gifts in the spotlight. But, are they the right financial decision for you? Our tax pro and legal expert explains why you should avoid this type of gift from a loved one.

4 CLEVER STORAGE IDEAS FROM THIS PRO ORGANIZER’S KITCHEN

THE WOMAN WHO TRAVELS THE WORLD WITH ONLY A TINY BAG 

CRUISING IS CATCHING UP WITH OUR SLOW TRAVEL TIMES 

Market Update

October saw stocks close higher, the first monthly gain since July. Investors were encouraged by hopes that the Federal Reserve will pull back from its aggressive interest-rate hike policy. In addition, solid third-quarter earnings could be a sign that the economy can withstand the battle to lower inflation. Each of the benchmark indexes listed here posted notable gains, led by the Dow, which rose nearly 14.0%. The Russell 2000 gained about 11.0%, followed by the Global Dow, the S&P 500, and the Nasdaq.