AMO Current Comment – Second Quarter 2023

Music has been a form of human expression and connection for over 40,000 years. Even today, it continues to be a universal medium to express and share a wide range of emotions, from joy to nostalgia to sorrow. People tend to become most attached to those songs in which they truly relate to the deep emotions the music evokes.

Financial and estate planning don’t inspire the same response as music, of course, and yet clients can still become emotionally attached to plans they have thoughtfully constructed and implemented. However, when personal, legislative, or economic circumstances inevitably change, it is essential to help clients overcome any resistance and make the necessary changes to bring their financial and estate plans back into harmony with their unique financial situation.

This issue of CURRENT COMMENT, Music and Emotion: When Clients Go from Concern to Feeling Good, covers recent changes that may affect clients’ financial and estate plans:

• Business Insurance – The Corporate Transparency Act
• Charitable Giving & Retirement – The New QCD Option and Split-Interest Gifts
• Charitable Giving & Taxation – Assignment of Income and the Timing of Gifts

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