Participant Communication Advances with Use of Modern Technology During a time when retirement plan participants are increasingly relying on online resources to access account information, a new rule from the Department of Labor (DOL) that greatly expands plan sponsors ability to deliver plan information by email or text couldn’t come at a better time. While […]

Financial Resolutions for 2021 In preparation for the start of the year, many engaged in the annual ritual of making New Year’s resolutions. Unfortunately, approximately 80% of people who make New Year’s resolutions will have abandoned them by the second week of February. With January already in the books, your eagerness to follow through on […]

It seems these days that there are a number of battles being waged out in the world. And, in our information society news travels fast and from many different directions. Fast and prolific enough that it can oftentimes be confusing. When my 13-year-old neighbor asked me about buying a stock he learned about from a […]

This time of year retirement plan providers are gearing up to complete the annual Actual Deferral Percentage (ADP) tests for qualified retirement plans. This test in particular can be very impactful to certain plan participants. This is a non-discrimination test for 401(k) plans mandated by the IRS to ensure that a plan does not unduly […]

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If the title of this article caught your eye, you likely have spent time, energy and resources establishing a thoughtful estate plan. You have presumably run through a variety of questions and scenarios with your estate planning attorney. You understand the importance of structuring your estate plan appropriately for your family and your financial situation. […]

The COVID-19 pandemic brought with it the sudden reality-check of our own incapacity and mortality. We all now pause to ask the rhetorical questions: Who possesses the authority to pull the plug if I am in an irreversible coma? Who handles my finances if I am in an extended hospital stay recovering from COVID-19? How […]

2020 has been the year of unprecedented actions and unknowns. The presidential election has followed suit in its unpredictability thus far. Joe Biden and Kamala Harris have been announced as winners of the 2020 election by the major news networks. As of today, the projected total electoral votes are 306 for Biden-Harris and 232 for […]

We are in the midst of a traditional season of gifting and though it looks different, as do many things in 2020, we are still able to enjoy some of our favorite traditions and perhaps create a few new ones this year, as well. Often overlooked in our gift giving are the benefits and drawbacks […]

The multiplicity of 2020 cataclysms notwithstanding, the year-end remittance of capital gain distributions by mutual funds is both predictable and well prepared for by the financial advisors at Greenleaf Trust. These distributions, which typically begin in late November and continue through mid-December, are nontraditional in the sense that fund investors can realize a tax liability […]

I thought the title to this month’s newsletter article appropriate mostly because we are all thinking it after a challenging 2020. We just finished up our annual strategic planning process which culminates with our Advance and company-wide Strategic Planning meeting. And, we have a lot to look forward to in 2021. Our Advance is an […]

We are quickly approaching the end of 2020, and like most, frantically preparing for a season filled with friends, family, and festivities. This year might have a different twist, but the preparation likely remains the same. Like most Michiganders, it’s that time of year where we confirm our Amazon accounts are set-up for two-day shipping […]

The gift of a remainder interest in a personal residence or a farm to a charity entitles the donor to an immediate charitable income tax deduction which can be used of off-set taxable income, or keep the donor in a marginally lower income tax bracket. The Tax Code regulates the form and type of charitable […]

Late last year, the Setting Every Community Up for Retirement Enhancement (SECURE) Act made significant improvements in the U.S. retirement system. Along with certain provisions of the Coronavirus Aid, Relief, and Economic Security (CARES) Act in early 2020, we have welcomed many retirement plan legislative changes over the last 12 months. But it’s election time, […]

Consider these statistics from the recently released U.S. Census Bureau Household Pulse survey conducted in collaboration with multiple federal agencies. Data was collected between mid-August and mid-October: Nearly 37% of households have at least one adult that has substituted some or all of their typical in-person work for telework because of the coronavirus pandemic. Working […]

Throughout Greenleaf Trust’s history, we have been privileged to serve clients who not only have high standards for financial and investment advice, but that also have strong personal commitments to their values and their communities. Historically, many of our clients did not view their purchasing and investing decisions as a primary means of expressing their […]

President Trump and Vice President Biden have provided some direction on what changes they would like to see in the funding of Social Security, but they have largely avoided any substantive proposals. Regardless of which one is president come November, funding of the social program will need to be addressed. The issues surrounding Social Security, […]

“2020 marks the 100th anniversary of women’s right to vote in the U.S.,” says Catherine Collinson, president and CEO of the Transamerica Institute and the Transamerica Center for Retirement Studies. “Since then, women have made great strides in educational achievement and career opportunities. Despite this progress, they continue to be at greater risk than men […]

Given the growing needs of charitable organizations during this global health crisis, 2020 may present compelling planning opportunities to make immediate gifts of cash at a time when they are sorely needed. With the recently-enacted CARES Act, individuals may receive increased income tax benefits while helping charitable organizations. The CARES Act allows individuals who itemize […]

I am happy to provide just a brief introduction to this article from our Executive Director of Development, Perry Wolfe, on investing in our communities. Rather than hear it from me, though, I wanted you to hear how important it is to Greenleaf Trust directly from him as he helps lead one of our community […]

COVID-19 has taken a lot from us; travel, impromptu in-person visits with family and friends and freedom to go to a concert, movie theatre or ball game with nary a thought. It has also made many of us anxious and fearful about today and our future and that of our families. While we are getting […]

It was the summer of 1985, and I had just graduated from high school. My Dad and I were headed to Cedar Point. We hadn’t been in years and this would be our last father daughter outing before I headed off to college. I couldn’t wait! I bragged to my friends that the first thing […]

Parents will often add an adult child’s name to their bank accounts, home, and other assets, believing it will make it easier for the child to help them manage their finances and their property as they grow older. While this “do-it-yourself” approach is fairly common among aging parents, the truth is that adding your child’s […]

Many estate plans make use of a list that identifies items of tangible personal property that are to be allocated among designated beneficiaries on the owner’s death. The list is usually incorporated by reference into a Will or a Trust, such as: I may leave a list that is attached to this Will, and if […]

The internet is an amazing tool. It has provided us near instant access to a wealth of information at our fingertips. Not to mention, helping us to stay connected remotely during these unusual times. However, as more and more individuals do their banking, bill paying, shopping, etc., online, it also opens us up to greater […]

The notion of a “traditional” family has certainly changed over time. The days of “Leave it to Beaver” are becoming less and less common. In fact, today, only about 35% of American families are comprised of a traditional heterosexual married couple with children. Apart from 35% that are labeled “traditional,” 31% are childless families and […]

As we continue to navigate through these uncertain times, filled with new challenges and concerns, having a dynamic wealth management relationship with a professional advisor has never been more important. A good financial plan should cover every facet of financial planning including life insurance, which can be an important and foundational element to financial wellbeing. […]

In 1996, Fed Chairman Alan Greenspan famously coined the phrase “irrational exuberance” during his speech at the American Enterprise Institute. Chairman Greenspan attempted to warn of highly elevated market valuations, particularly across much of the technology sector. Investors not only ignored his warning, but also drove the NASDAQ up another 300% before peaking on March […]

I recently read an interesting article titled Microsoft Analyzed Data On Its Newly Remote Workforce in Harvard Business Review. The article described what Microsoft learned over the last four months when they studied how flexible and adaptable their work might or might not be, how collaboration and networks morph in remote settings, what agility looks […]

While IRAs are common, flexible vehicles for retirement savings and great planning tools, the beneficiary distribution rules are complicated, and became even more so with the passage of the SECURE Act in December. IRAs often represent a significant portion of a person’s investment portfolio; naming the beneficiary or beneficiaries is an important decision and worthy […]

You have your favorite charities and you know the areas of the community on which you wish to make an impact, but in times of crisis and emergency are you ready to pivot and provide support to those most affected by the crisis? Have you thought about whether or not you would want to pivot? […]

Since 2002, plan sponsors have been able to electronically furnish plan information and notices in relation to qualified retirement plans; however, electronic distribution was only allowable if the employee gave consent to agree to receive electronic communications. Also, if an employer determined electronic distribution was allowable on the basis of all employees having access to […]

A donor advised fund is, in effect, a charitable savings account. A donor advised fund permits an individual donor to make a donation without choosing a specific charity at the time the gift. The transfer of cash or assets to the donor advised fund sponsor permits the donor to claim an immediate income tax charitable […]

As you have heard from our founder and Chairman, William D. Johnston, making progress on elimination of institutional racism is indeed hard work and Greenleaf Trust in values, mission and deed is committed to that essential progress. There cannot be any distance between the values we express and our actions as a collective company. We […]