2017 shattered giving records. Strong markets and the prospect of tax reform drove total charitable giving past $400 billion in America for the first time ever. Meanwhile, Schwab Charitable donors, many who work with advisors, recommended $1.9 billion in grants to philanthropic groups last fiscal year – the most in our history.

I was honored to attend the 2017 Philanthropy Innovation Summit at the Stanford Center on Philanthropy and Civil Society. The intensive day-long program gathers thought leaders in Palo Alto to discuss research, best practices, and new strategies that can increase philanthropic impact. I heard inspiring stories about charities around the globe.

Philanthropy can be a powerful way for families to deepen relationships across generations, develop a shared mission, and increase their impact on the world. It is also a powerful way for advisors to deepen relationships with clients, prospects and their families by being an important resource to help them maximize their charitable contribution deductions and reach their charitable goals.

Why strong markets, possible tax reform, and disaster relief and recovery may trigger the biggest giving year in U.S. history