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Education is an expense that impacts many families each year. As the cost of secondary and higher education continue to rise, many families should consider the tax benefits of funding educational expenses. The type of vehicle used to fund educational expenses varies and can include education trusts and qualified tuition programs that are designed as investment accounts.

There are many considerations that go into making a planned gift, including the maximization of its impact. There are three types of planned giving: lifetime giving, giving at death, and hybrid planned giving. Factors to consider are whether you have the capacity to make sizeable gifts during your lifetime, the potential for income streams during life, and the tax effects of making the gift during life, or at death.

There is great responsibility when serving the ultra-high net worth clients, especially those who are concerned about preserving a family legacy and the successful transfer of their wealth and/or business. In this issue of Family Wealth Advisors Insights, three areas of concerns are addressed for the advisors and their families: maximizing their foundation endowment funds for social impact; what business owners need to know about their 2018 taxes; and the rise of self-made female billionaires and what it means for the future of philanthropy in the U.S.

In order to sustain their businesses for the long term, successful business owners tend to be thoughtful in their investments. They act like chess masters, deciding their next five moves in order to maintain a competitive edge and stay in the game. Yet throughout this business cycle, the RSM US Middle Market Business Index has shown that middle market leaders have been slow to increase capital expenditures, despite incentives provided in the 2017 Tax Cuts and Jobs Act. This is concerning in light of today’s rapid pace of business transformation.

Incentive trusts are typically defined as trusts with provisions to encourage or discourage certain types of behavior and promote family values. Despite their appeal, they remain underutilized. One of the key reasons for this is that they’re somewhat impractical when used with traditional types of trust administration. Rather than relying on one-stop shopping full service or delegated trustees, the best incentive trusts generally require several family members and trusted family advisors to act as distribution fiduciaries, advisors, and mentors.

Three converging trends—including a shift from negative to positive screening—are making it easier for investors to implement impact investment programs that deliver competitive returns.

Artwork, along with other types of assets, can be used as collateral for a loan to purchase property, invest in a business, or to buy more art. There are no limitations on the use of the proceeds. But before enlisting your art collection and other high-value assets to help secure the financing for a big purchase, there are a few things to consider, including appraisals and due diligence.

Each decade of life brings unique challenges and opportunities, financial and otherwise. Focusing on each stage from the 40s to the 70s, we highlight the planning issues that may be ripe for your consideration, including revisiting your estate plan, downsizing your home, and constructing your general retirement plan.

Stories that are passed down from generation to generation are a way to create a family legacy that will be remembered long after we are gone. These stories are precious in understanding who we are and where we came from. Too often, the people who hold the keys to family stories lose details to memory loss or pass away before their histories can be recorded. Vacation time and the holiday season are ripe opportunities for families to seize the moment to capture family history across generations.

Today, investors of all sizes are utilizing their capital to do good while also doing well. A multitude of impacting investing options are available for foundations, family offices, and individual investors to align their values with their investment portfolios. Whether it is through ESG-screened ETFs and mutual funds, green bonds, PACE bonds, or private equity funds, impact investing is a win-win that can drive much needed social and environment change while also earning a good market-rate financial return.