The Internal Revenue Service (IRS) recently announced that the 2015 estate tax exemption amount will increase to $5.43 million per individual this year, adjusted for inflation (the 2014 exemption was $5.34 million).
The laconic Prince Otto Eduard Leopold von Bismark, Duke of Lauenburg (the Iron Chancellor) is often associated with the statement “If you like laws and sausages, you should never watch either being made.”
You may be aware of some bumpiness in capital markets over the past few weeks and thanks to a particularly bad July 31st soon-to-be-arriving statements will for most investors detail a generally crummy month. Recent sell offs have reduced the year-to-date stock market returns to low single digits. We would like to briefly share our perspective and forward looking expectations.