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In late 2017, the sweeping tax reform was passed in the United States and created incredible opportunities for estate planning for high-net-worth families. It also served as a good reminder to review your estate plan to be sure that it is consistent with your current goals and is flexible to promote tax efficiency under today’s tax laws—as well as the unknown tax laws of the future.

The Tax Cuts and Jobs Act of 2017 is sweeping in its reach, and divorce situations are not immune from its influence. The new tax law changes the tax treatment of alimony for both the payer and the recipient. For divorces finalized prior to January 1, 2019, this new tax treatment will not apply and will be grandfathered under the rules of the prior law. It is important to review your settlement agreement in light of these tax law changes, and consider modification of an existing agreement if appropriate.

With the passage of the Tax Cuts and Jobs Act in late 2017, virtually all areas of federal tax law saw sweeping changes.

Under the current U.S. tax code, there are three critical areas that can help high-net-worth individuals, families, and business owners maximize their wealth planning potential. We frame these areas in the form of corresponding emerging themes—estate tax, income, and charitable planning—and propose actionable strategies. This is just a first step, one that will inspire many conversations to help ensure that your wealth plan keeps pace with the tax reform changes.

Scientists warn of dire consequences to the environment due to climate change, from devasting droughts to massive flooding—effects we’re already starting to experience globally. In this context, it may be particularly important to look at an aspect of the issue which has received less attention: the nexus of gender and climate change. Gender lens investing and other efforts to reach gender parity can be a critical lever to reducing the negative impacts of climate change.

Is philanthropy one of your top priorities? One way to make your estate plan more philanthropic is through a Charitable Remainder Trust (sometimes called a CRT, CRUT, or CRAT, depending on the form it takes). The Trust is created until the end of the trust term or the death of the last beneficiary. At the end of the trust, whatever is left over (the “remainder") is distributed to the charity of your choice. Other advantages of creating a CRT include providing an income stream, enabling an immediate charitable deduction, and reducing federal estate tax liability.

2018 was a tough year for investors, with most major asset classes finishing with flat-to-negative returns for the calendar year. Worries over monetary policy, economic growth, and trade wars are largely responsible for 2018's dismal results.

The stock market’s dramatic recovery so far in 2019, after a dismal fourth quarter of 2018, has left many casual market observers wondering “What changed”? U.S. economic data continues to reflect a modest slowdown, Europe struggles with anemic growth and Brexit uncertainty, and China grapples with a slowing growth rate and enormous debt. The global economic growth continues to look a bit shaky.

Managing wealth can be complex as policies and tax laws change. Employing financial, legal, and tax professionals can help, but each family should be vigilant in understanding and evaluating their work to ensure that the strategies they pursue will support the long-term wealth management goals of the family. In this tax and wealth planning guide, advice and planning tools are provided to help with that process.

Cannabis and industrial hemp are projected to be large disruptors across many industries that include agriculture, construction, energy, textiles, and law. The industry is also moving at an accelerated pace and has opened up global investment opportunities. How to participate in this sector and how to perform proper due diligence are the questions many high net worth investors are asking. The first step is to not allow emotions driven by a fast-paced business environment overtake sound investment principals.