A strong estate plan is not just about having documents in place. Over time, your life evolves, your family changes, and past decisions may no longer reflect your current situation. If it has been a while since you reviewed these details, it is worth taking another look to ensure your plan plays out the way you intend.

Major endowment donors and their families are increasingly concerned about what happens to charitable gifts when nonprofit institutions close.

In 2025, 15,000 churches and sixteen colleges closed in the United States.Many fraternal and social organizations have continued a decades long decline, with clubs, lodges, and chapters consolidating or disappearing. Many arts organizations, including small museums, have also closed.

Some projections suggest these trends may continue due to demographic, social, and economic factors.

As institutions disappear, donors and their families are beginning to ask important questions:

• What happens to the property and endowment funds of these organizations?
• What happens to planned gifts or bequests if the nonprofit no longer exists?
• How closely will donor intent be honored?

The answers are not always straightforward.

As we move into April, several familiar forces are converging at once. Tax season is coming to a close, earnings season is set to begin, and renewed geopolitical tensions are influencing markets — most visibly through energy prices. While these may appear to be separate headlines, they are interconnected parts of a broader environment the market is working to process. This is typical for this time of year: periods of short-term uncertainty often emerge even as the underlying, longer-term foundation remains more stable than the headlines suggest.

For many collectors, building a collection is a lifelong pursuit. Fine art, rare watches, classic automobiles, coins, jewelry, or wine often reflect years of curiosity, expertise, and personal passion. Over time, these pieces may also become some of the most valuable assets a person owns.

But there’s a question many collectors don’t spend much time thinking about while they’re building their collection: what will happen to it when they’re no longer the one managing it?

For many people, taxes are something that get settled once a year in April. But the U.S. tax system does not work that way. The IRS operates under a “pay-as-you-go” system, which means taxes are generally expected to be paid throughout the year as income is earned.

For individuals who receive a regular paycheck, this happens automatically through withholding. But for many investors, retirees, and self-employed individuals, income often comes from sources that do not automatically withhold taxes, such as dividends, capital gains, business income, or retirement account withdrawals. In those situations, estimated tax payments may be required.

On February 22nd, Citrini Research posted a report titled “The 2028 Global Intelligence Crisis” by Citrini and Alap Shah. The self-described thought exercise theorized a scenario in which Artificial Intelligence (“AI”) destroys more jobs than it creates. The results are economically catastrophic.

 From a seasonal perspective, March is not typically known for any major changes in market dynamics. The month is often quieter with tax season emerging, earnings season’s completion, and investors analyzing early-year market direction. Despite the lack of obvious activity, several meaningful developments are unfolding that warrant our investment team’s attention. 

Wills, beneficiaries, physical property, and financial accounts: the basics of what most people think about when it comes to estate planning. But as more of our financial and personal lives exist behind login screens instead of paper files, digital assets that hold real value are often overlooked.

Cloud storage, cryptocurrency wallets, airline miles, online marketplaces, and subscription services have introduced a new planning challenge that many families are not fully prepared for: what happens to those digital accounts after death or incapacity?

The first quarter of the year is an ideal time to get your finances in order. Whether because it made your New Year’s resolution list or because financial tasks got pushed aside last year, this is a natural time to take stock. If you’ve never created a financial plan, now is an excellent time to start. And if you already have one in place, it’s a good opportunity to update it and see where things stand.

Fixed income can play a critical role in a well-constructed investment portfolio. While equities are typically the primary driver of long-term returns, fixed income serves a different purpose: risk management. 

Our philosophy is straightforward. Fixed income should act as a true hedge against equity market volatility while also providing a predictable level of income. It is not intended to be the engine of growth in a portfolio. That responsibility belongs to equities. This distinction matters because fixed income investments have an inherently asymmetrical payoff profile.