Thought Leadership Resource Center
The beginning of a new year can serve as a fresh start with financial resolutions and monetary goals. Here’s a checklist to help ensure your 2025 financial plan stays on track incorporating regulatory changes and updates to your spending, saving, investing and giving in the new year.
Read MoreWhile federal estate taxes often grab headlines, many overlook the significant impact of state estate taxes. These state-level taxes can substantially reduce the value of inherited assets, affecting the beneficiaries and the decedent’s legacy.
Illinois, where Clearwater Capital Partners is based, is one of 12 states with an estate tax. It is a uniquely difficult tax to avoid and requires careful planning to minimize.
Read MoreThe current Federal Estate Tax exemption is approximately $24 million for a married couple (half for an Individual) inclusive of portability. Readers should note: no legislative action is needed to effectively cut the exclusion amount in half at the end of 2025. Meaning, the Tax Cuts and Jobs Act (TCJA) of 2017 automatically reverts without the need for Congressional vote.
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In 2020, Presidential Candidate Joe Biden and Senator Bernie Sanders teamed up for the Biden-Sanders Unity Task Force with Recommendations for Combating the Climate Crisis and pursuing Environmental Justice. This 110-page document outlined many platform considerations, including their like-mindedness on Estate Taxes.
On Thursday, March 25th Senator Bernie Sanders officially released his proposed estate and gift tax reform legislation. This 18 page bill contains major changes to current legislation that would have serious implications for many of the families that work with Clearwater Capital.
The effective date of multiple sections of the proposed legislation is upon enactment; therefore, now is the time to consider how these changes may affect you and future generations.
Disclosures:
THIS COMMENTARY HAS BEEN PREPARED BY CLEARWATER CAPITAL PARTNERS. THE OPINIONS VOICED IN THIS MATERIAL ARE FOR GENERAL INFORMATION ONLY AND ARE NOT INTENDED TO PROVIDE OR BE CONSTRUED AS PROVIDING LEGAL, ACCOUNTING, OR SPECIFIC INVESTMENT ADVICE OR RECOMMENDATIONS FOR ANY INDIVIDUAL. ALL ECONOMIC DATA IS DERIVED FROM PUBLIC SOURCES BELIEVED TO BE RELIABLE. TO DETERMINE WHICH INVESTMENTS MAY BE APPROPRIATE FOR YOU, PLEASE CONSULT WITH US PRIOR TO INVESTING. INVESTING INVOLVES RISK WHICH MAY INCLUDE LOSS OF PRINCIPAL.
This material is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities, insurance products, or to adopt any investment strategy. The opinions expressed are as of the date of writing and may change as subsequent conditions vary. The information and opinions contained in this material are derived from proprietary and nonproprietary sources deemed by Clearwater Capital Partners to be reliable, are not necessarily all-inclusive and are not guaranteed as to accuracy. Past performance is no guarantee of future results. There is no guarantee that any forecasts made will come to pass. Reliance upon information in this material is at the sole discretion of the reader. Investment involves risks. International investing involves additional risks, including risks related to foreign currency, limited liquidity, less government regulation and the possibility of substantial volatility due to adverse political, economic or other developments. Index performance is shown for illustrative purposes only. You cannot invest directly in an index. S&P 500 is a registered trademark of Standard & Poor’s Financial Services, a division of S&P Global (“S&P”) DOW JONES, DJ, DJIA and DOW JONES INDUSTRIAL AVERAGE are registered trademarks of Dow Jones Trademark Holdings (“Dow Jones”). FTSE Russell® is a trading name of FTSE, Russell, FTSE Canada, FTSE FI, FTSE FI Europe, WOFE, RBSL, RL, and BR. “FTSE®” “Russell®”, “FTSE Russell®”, “FTSE4Good®”, “ICB®”, “Refinitiv”, “Beyond Ratings®”, “WMRTM”, “FRTM” and all other trademarks and service marks used herein are trademarks and/or service marks owned or licensed by the applicable member of LSEG or their respective licensors and are owned, or used under license, by FTSE, Russell, FTSE Canada, FTSE FI, FTSE FI Europe, WOFE, RBSL, RL or BR. The two main risks related to fixed-income investing are interest rate risk and credit risk. Typically, when interest rates rise, there is a corresponding decline in the market value of bonds. Credit risk refers to the possibility that the issuer of the bond will not be able to make principal and interest payments.
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