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The 5G network puts us at the precipice of another change in technology with the potential to unlock brand new applications, many of which are still nestled deep in entrepreneurial minds. As the introduction of 5G networks looms over the horizon and continues its evolution of innovation, so do new technological possibilities, challenges, and opportunities. The 5G rollout will require a national overhaul in wireless infrastructure, creating opportunities for investment.

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.

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.

The 2017 Tax Cuts and Jobs Act left many of the rules and laws pertaining to retirement planning unchanged. However, the Act did change the tax landscape for many by lowering overall tax rates for individuals and businesses and changing deductions. Given this new landscape, there are additional opportunities and new twists for taxpayers to be mindful of in order to take full advantage of planning for retirement in the most tax-efficient manner.

The Tax Cuts and Jobs Act of 2017 created a new tax incentive, the Qualified Opportunity Fund (QOF), designed to encourage long-term investment in low income communities.

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.