WESCAP Q3 2026 Quarterly Commentary: AI Strength, Soaring Yields, and Election Risks
Stocks and bonds declined in September as several pressures weighed on markets. Higher energy prices and limited progress
toward ending the Iran conflict contributed to inflation and higher short-term interest rates. Long-term interest rates also rose
sharply amid inflation concerns, federal budget deficits, and substantial borrowing needs for artificial intelligence (AI)
infrastructure and other capital-intensive projects. The University of Michigan’s consumer sentiment survey reached its second-lowest
reading on record, while election uncertainty added to investor caution.
State-Level Estate and Inheritance Taxes: What You Need to Know
Many clients are familiar with the federal estate tax exemption which is high enough that most estates are not federally taxable. However, several states impose their own estate or inheritance taxes often with much lower thresholds and different calculation rules. Sixteen states plus the District of Columbia impose an estate and/or inheritance tax. Listed below in a table are the estate and inheritance tax exemption amounts and tax rates. Note the following:
- Maryland is the only state that imposes both an estate tax and an inheritance tax.
- Oregon has the lowest exemption amount at just $1,000,000.
- Connecticut’s exemption matches the federal exemption amount ($15M for 2026 and adjusted for inflation annually thereafter).
- California does not impose estate or inheritance taxes.
- Surviving spouses are not subject to state inheritance tax.
WESCAP Q2 2026 Quarterly Commentary: Global Markets Surge on Geopolitical De-escalation and Robust Corporate Earnings
WESCAP portfolio results were strong the last quarter as the Iran conflict de-escalated, resulting in a more optimistic outlook and strong global stock market returns. The S&P 500 had a positive 15.2% Q2 return, after a loss of 4.3% in the first quarter. This was surpassed in the second quarter by small-cap U.S. stocks (Russell 2000) with a 21.5% return and emerging markets stocks (MSCI) with a 24.1% return. Also strong were REITs (real estate) at 10.7% and developed foreign markets stocks (EAFE) at 10.8% for the quarter.
(more…)Read MoreSection 530A “Trump” Accounts: What Families Should Know
Section 530A “Trump” Accounts have quickly become one of the more discussed new savings vehicles for children. While the name itself may generate political reactions, we will focus on only its merits and limitations.
Our goal is to objectively explain what these accounts are, how they work, what tax and investment features they offer, what limitations and unanswered questions still exist, and whether they may make financial sense for certain families, especially when compared to other options like the popular Section 529 Plan, which is primarily designed for education savings but may offer broader planning flexibility in certain situations. As with many new laws, the details continue to evolve as additional IRS guidance is released.
(more…)Read MoreThe Modern Frontier: Planning for Your Digital Estate
Over the past few decades, technology has reshaped nearly every aspect of our lives, including our estates. Today, your digital footprint is vast, valuable, and often overlooked in traditional estate planning.
From financial accounts to social media profiles, digital assets require the same level of attention as physical property. Yet many people are unclear on what qualifies as a “digital asset,” let alone how to plan for it effectively.
(more…)Read More