Our view from a month ago that a pipeline of volatility-inducing events could trigger a modest pullback (2%-5%) across major indices continues to materialize. Over the month of March, U.S. interest rates were hiked 25bp, President Trump failed to even get a vote on proposed legislation to repeal and replace Obamacare, the U.K. formally triggered negotiations on its exit from the European Union, and the French presidential election race continued to heat up. As a result, global markets have traded with a subtly cautious tone as they absorbed these developments and downgraded lofty expectations of speedy passage of Trump’s pro- growth agenda (ie. tax reform, fiscal spending boost, etc.).
Part 2: Transition – Transferring a cottage to future generations.
A family cottage is, above all, a retreat for much needed rest and relaxation. The tax implications of an uninformed decision to pass a family cottage to future generations can be startling, to say the least.
This is the second of a two-part series intended to help families prepare for a transition challenge which, when managed without the necessary expertise, can lead to family friction or – even worse – a family schism.