Following two historic years, with the S&P 500 achieving consecutive annual gains of more than 25% for the first time since 1997-1998, equity markets continued their upward trajectory returning 2.8% for the month. In the US, investors weighed a strong labor market, which is generally a positive indicator, with the implication that labor market strength may make Federal Reserve rate cuts less likely. This tension was compounded by volatility driven by evolving developments in the AI space and left equity markets in flux in January.

With the receipt of Greenleaf Trust’s national charter and our continued Delaware limited purpose trust company charter, we now have additional tools for bringing our clients the best planning opportunities. Many states have adopted “uniform acts” which create greater consistency between state laws. However, each state retains unique differences in both substance and whether the laws in that state have been tested by the courts. In helping our clients, we are always looking to make the best decision balancing both the substance of the law and the protections of the law.

No matter where you are in your Social Security timeline, if you are concerned about how this will affect your current and or future lifestyle, ask your financial advisor to run an analysis and model your retirement with a reduction in Social Security benefits and or reduced after-tax income. What you might find is that, while it is not ideal to face reduced benefits, you are still able to live comfortably. If not, start planning now to address that shortfall and bring balance back to your three-legged stool.

The IRS Tax Filing PIN, also known as an Identity Protection PIN (IP PIN), is a six-digit code provided by the IRS to help taxpayers verify their identity. This code adds an extra layer of security to your tax return, ensuring that only you or your authorized representative can file under your Social Security Number (SSN).

Secure Act 2.0 made numerous changes in the retirement industry. One of those changes brought us the Qualified Student Loan Program (QSLP) that became effective for plan years starting on or after January 1, 2024. This optional provision allows employers to provide a matching contribution to eligible plan participants that are making qualified student loan payments. Many participants may be unable to defer into the plan due to repayment of student loan debt.

A key step to making a successful transition to retirement is to work with excellent advisors including an estate planning attorney, a strong CPA, and a wealth manager such as Greenleaf Trust. These firms can help with important tasks such as preparing estate planning documents, candidly discussing needs and goals, and preparing a sustainability analysis to evaluate potential spending levels. Access to such advice can provide tremendous peace of mind as a person moves forward with retirement. Life is a journey and seeking wisdom from others can help you tremendously. Remember to run your own race as you move forward!

One of the things that makes Greenleaf Trust unique is our talented team. They are deeply committed to the work they do for our clients and worth meaningful recognition for their achievements. At the end of the year, we announced the following 32 promotions. These were teammates from throughout the organization that successfully executed customized […]

Economists have largely shelved their recession forecasts, which last year registered 50% odds of a downturn in 2024. The outlook for corporate earnings growth is rosy. Predictions for inflation remain marginally concerning, but overall, the outlook for the coming year is positive.

Continuous improvement is one of Greenleaf Trust’s core values – it is a pillar of our culture and has become part of our DNA. Every tangible improvement we have made on behalf of our clients stems from a disciplined review of our practices.

Offering employees a solid retirement plan can be a vital component of a larger benefit package to entice people to join your company team and stay.

Our new goal is focused on what we are passionate about and built with a deep understanding of our core competency.

Campaign proposals are one thing, but actual policy implementation can be quite another. It’s easy to draw oversimplified conclusions based on assumptions that only account for the first order impacts of policy decisions.

A Power of Attorney under MCL 700.5103 is an effective legal tool for parents needing to temporarily delegate their decision-making authority.

Year-end financial planning is about setting the stage for a prosperous new year.

The Internal Revenue Service recently announced contribution and benefit limits for qualified retirement plans effective January 1, 2025.

Interpretation problems can arise when the trust instrument refers to distributions of a trust’s income or assets to a person who is related to and survives the named beneficiary as his or her descendant.

In 2015, we constructed our long-term strategic goal to be Top of Mind in the Michigan markets where we serve. Now we’re looking ahead to the next 10 years.

With policy actions at the Fed shifting from tightening to loosening monetary policy, we thought now would be an ideal time to add historical context to the current anticipated rate cutting cycle.

A trustee is obligated to adhere to the instructions outlined in the trust instrument while simultaneously complying with the regulations set forth in the MTC to fulfill the objectives defined within the trust instrument.

Building a portfolio that incorporates passive investment vehicles requires active fiduciary care and diligence; it is neither unmanaged nor unmonitored.

The idea of terminating DB plans is not new, as more than $300 billion in pension plan liabilities have been transferred to insurance companies since 2012. However, this decision requires careful consideration of the current interest rate environment, plan funding status, and broader economic factors.

Once again, we had a busy and successful summer at Greenleaf Trust. As I reflect on summer, here are some of my highlights.

If I had to describe the third quarter of 2024 in one word, it would be “pivotal.” Not because the last three months were critically significant, but because I observed a lot of pivoting. Labor market? Pivoted. The Fed’s focus? Pivoted. Monetary Policy? Pivoted. Even the Democratic National Committee? You guessed it… pivoted.

For individuals and families who have accumulated significant wealth that may be subject to an estate tax at their passing, the decision on how and when to pass on the wealth may be difficult.

The most recent changes to qualified retirement plans were the Setting Every Community Up for Retirement Enhancement Acts, SECURE, for short.

As evidenced by recent disclosures by LinkedIn, Target, and Equifax, the frequency of data breaches has skyrocketed in recent years. In 2023 alone, data compromises surged by 78% compared to 2022, increasing from 1,801 to 3,205 reported incidents.

Five years ago, we heard from our clients that they wanted a more robust online client portal. So, we did what we do whenever our clients speak.

August was not for the faint of heart. Starting with a weaker-than-expected jobs report and exacerbated by the collapse of the yen carry trade, the S&P 500 fell 6.5% in the first three trading days of the month.

Ensuring that all assets are properly accounted for, and the necessary steps are taken to protect the financial well-being of heirs is crucial.

Typically, life insurance is purchased to provide financial protection and peace of mind for policyholders and their family members. Here are several alternatives for how to maximize the value of a life insurance policy you may no longer need.

Payroll administration plays a critical role when an employer offers a retirement plan, and understanding the plan document provisions is important to avoid operational failures.

The clients approached after dinner to say how much they appreciated the members of their client centric team. Their appreciation came from their team at Greenleaf Trust doing something for them that was totally unexpected.

Financial markets took the headlines in stride. While there were some setbacks.

A majority of Americans do not regularly talk about money. If money makes the world go round, why is it so uncomfortable for some of us to talk about?

When it comes to retirement there are things that we can fully control, things that we can somewhat control and then there are those things over which we have absolutely no control.

SECURE Act 2.0 represents a significant step forward in enhancing the flexibility and security of retirement savings.

Greenleaf Trust is pleased to announce the addition of Christy Dewey, Adam Mangiapane and Zach Reed.

I am proud that Greenleaf Trust is structured to remain a privately held, trust-only bank in perpetuity. This eliminates the possibility of an acquisition or merger.

The first half of 2024 continued the positive momentum seen in 2023 across financial markets. The likelihood of a recession has diminished compared to a year ago.

It is not surprising the number of individuals who want to be buried in their grave with particular items that have emotional, sentimental, and sometimes even intrinsic value.

Every person coming into retirement has struggled with the shift in mindset from work income to income from retirement assets.

Here are eight things you can do now that take only minutes but can save hours of work and frustration for your loved ones in the future.

In the retirement plan world; size matters! A plan reports their number of participants on a required annual Form 5500 which is submitted to the U.S. Department of Labor (DOL). If the plan is “large,” it needs an audit.