Nicholas A. Juhle, CFA®

Senior Vice President, Director of Research

Viewpoints

January 27, 2020

Perspective on Wuhan Coronavirus Outbreak

Concerns over the human and economic impact of the coronavirus outbreak in China have driven a financial market flight to safety in recent days. The outbreak invites anxiety on the heels of a sustained rally in U.S. stocks that occurred despite looming issues including a presidential impeachment, ongoing global trade negotiations, and a flare up […]

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Nicholas A. Juhle, CFA®

Senior Vice President, Director of Research

Viewpoints

January 3, 2020

Perspective on U.S./Iran Escalation

What happened? The tone in global financial markets turned cautious this morning after a U.S. airstrike in Iraq ordered by President Trump killed one of Iran’s most powerful generals, fueling concern over escalating tensions. According to the Defense Department, the U.S. military took “decisive defensive action” by killing General Qaseem Soleimani who was “actively developing […]

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Nicholas A. Juhle, CFA®

Senior Vice President, Director of Research

Viewpoints

August 5, 2019

Update on US Monetary & Trade Policy

We have been focused on two primary drivers for US markets in 2019: trade negotiations and the Federal Reserve’s monetary policy decisions. On Wednesday, July 31st, the Federal Reserve cut interest rates by 0.25%. In his press conference, Fed Chair Jerome Powell noted trade policy’s impact on their decision to ease: “After simmering early in […]

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Nicholas A. Juhle, CFA®

Senior Vice President, Director of Research

Viewpoints

May 15, 2019

US/China – Perspective on Recent Developments

Less than two weeks ago, investors were operating under the assumption that a U.S./China trade deal was all but certain. Much has changed in a short period. Uncertainty has been reintroduced around when, or if, an agreement will materialize. We continue to believe an eventual compromise is the most likely outcome, but for now, visibility […]

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Nicholas A. Juhle, CFA®

Senior Vice President, Director of Research

Viewpoints

The Yield Curve Inverted…What Now?

On Friday last week, the U.S. treasury yield curve inverted. Weak economic data out of Europe spurred heavy demand for bonds, pressuring the 10-year yield to 2.44%, its lowest level in over a year and about a basis point lower than the 3-month T-bill yield. This is significant because a curve inversion is considered one […]

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George F. Bearup, J.D.

Senior Trust Advisor

Viewpoints

Basis Planning: Qualified Small Business Stock Exclusion

Considerable time these days is spent identifying ways to include the value of trust assets in the settlor’s gross estate in order to obtain an income tax basis adjustment to those assets. But the settlor or beneficiary’s death is a condition to this planning strategy. What if capital gain exclusion could be obtained while the […]

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George F. Bearup, J.D.

Senior Trust Advisor

Viewpoints

Disclaiming to Reach a Higher Basis

Disclaiming an interest in property has always been a way to add flexibility to an estate plan. By exercising of a timely qualified disclaimer, the disclaimant effectively moves assets to another individual, or to a trust, without incurring any gift tax. Consequently, disclaimer planning takes center-stage in many estate plans these days by spouses to […]

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Nicholas A. Juhle, CFA®

Senior Vice President, Director of Research

Viewpoints

Greenleaf Trust Research: Dems take the House, GOP holds the Senate

In last month’s Perspectives newsletter, we detailed expectations, as well as probable and possible outcomes heading into midterm elections. The article: “Democrats or Republicans…Who Will Ace the Midterms” is available here for your reference. Midterm Outcomes Aligned with Expectations Yesterday, Americans cast ballots to elect members for all 435 seats in the House of Representatives […]

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George F. Bearup, J.D.

Senior Trust Advisor

Viewpoints

Remainder Purchase Marital Trust Strategy

A couple of months ago I wrote about the possible use of spousal lifetime access trusts (SLATs) as a way for a married couple to exploit the recent $5 million increase in their respective federal gift tax exemption amount, while still retaining access to the cash flow generated by those transferred assets. Yet another technique […]

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George F. Bearup, J.D.

Senior Trust Advisor

Viewpoints

July 23, 2018

‘Enhanced’ Defined Dollar Value Formula Transfers

The 2017 Tax Cut and Jobs Act provides more incentives for individuals to gift assets either to their family members or to dynasty-type irrevocable trusts. The temporary increase in the applicable transfer tax exemption amount by $5.6 million per individual encourages the wealthy to consider making large gifts when no federal gift tax will be […]

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