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 […]

As the world begins to re-open and re-define what it looks like to return to some sense of “normal,” there are many factors to consider. From a federal, state and local level, information is rampant and quickly changing to mitigate the spread of COVID-19. One thing has remained the same throughout, a focus on keeping […]

After reaching a high on February 19, COVID-19 and the decline in oil prices drove selling pressure on the Standard & Poor’s 500, leading to a 34% decline by March 23. Actions taken by the Federal Reserve Board and spending programs by the federal government have helped this equity market index climb by almost 36% […]

Given the current state of our environment, many estate plans have been accelerated, which could include creating and transferring assets into an irrevocable trust to benefit family members. For several reasons, grantors may worry about beneficiaries becoming aware of a trust. Delaware may be a venue to alleviate grantors’ fears. Traditionally, when someone is interested […]

Financial wellness, and the need for employee financial wellness programs, has increasingly gained attention in the past decade. Pre-COVID-19, offering a financial wellness program to employees was considered a value-added benefit, but the coronavirus pandemic suggests it is now an urgent necessity with a major emphasis on emergency savings. Simply put, financial wellness is the […]

A durable power of attorney is an important part of any estate plan. With a durable power of attorney, an attorney-in-fact (agent) can manage an individual’s (principal) financial affairs without the need for a probate court appointed conservator when the principal is either unable, or incapable, of making decisions. While a durable power of attorney […]

Undoubtedly, we have each endured a moment of fear over the last couple of months. Whether it be watching over your children, allowing your teen to take your car for the first time, worrying about catching a virus with no certain cure, or trying to keep your small business afloat during a pandemic; we want […]

Recently, investors have faced unprecedented times as the impact of COVID-19 on the economy continues. After a strong decade for US equity markets, it comes as no surprise that the market’s recent drop and continued volatility is unnerving and downright scary for many. Nevertheless, a key concept to investing in a retirement plan is to […]

The recent coronavirus pandemic has brought nursing homes in the into the spotlight for the many challenges that the elderly face. Given medical advances, people in general are living longer and their families are tasked with the responsibility of providing the best care options for them. And yet, the discussion about how to pay for […]

One of the habits developed over four decades as an attorney was to skim the ‘legal notices’ section in the morning newspaper. While I no longer practice law, out of that habit I still look at the published legal notices. One that caught my eye a couple of weeks ago was a legal notice where […]

With the uncertainty that the pandemic has brought to our current situation, many individuals have taken the time to review their estate planning documents and determined that they need to make some changes. The challenge that has presented itself during these trying times is that people have determined that they want to make changes to […]

It is my pleasure to introduce Perry Wolfe, who joined the Greenleaf Trust team in January as senior vice president, executive director of development. In collaboration with our business development and marketing teams, Perry will lead the strategy and growth for markets outside of Kalamazoo. The timing of Perry’s arrival is fortuitous given the challenges […]

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES) was signed into law. In addition to numerous financial incentives provided to individuals and business, the CARES Act provides some major retirement plan changes allowing plan participants access to their retirement savings as a financial resource in this time of crisis. Employers […]

If you are like most, you’re experiencing quite a bit of anxiety right now as we grapple with a pandemic health crisis. The human, economic and market fallout are unnerving. Unfortunately, we know the headlines will get worse before they get better. Confirmed COVID-19 cases will grow exponentially, and dismal economic data resulting from the […]

The world suddenly changed with the COVID-19 pandemic. We have all had to learn a new skill called social distancing. Millions now work from their homes. Isolation is the new mainstream lifestyle, albeit not by choice. Consequently, any discussion about estate planning seems pretty superfluous in this time of crisis. However, if an individual is […]

With all the market volatility lately, it is a little surprising that investors are concerned about the most stable part of their portfolios, their money market funds. We believe the concern has been driven by (1) a lack of knowledge about money market reforms instituted after the financial crisis, and (2) headlines in the financial […]

Each year, starting in September, we purposely engage our entire company in discussion about our long-term strategic plan. Specifically, we ask and answer the question – what do we need to do next year to take one step forward in being top of mind? Because our culture is so important to us, each year it […]

Conspiracy theorists seem to lurk around every corner these days, imparting their less-than-logic-backed views and offering little evidence. The complex world of finance and managed assets provides ample opportunity for cynics and simpletons alike to assert similar claims — that institutions have rigged the system against them — often crying speculatively, “my broker makes more […]

When it comes to retirement savings, most people know the basic principle: one should strive to save as much as they can, as early as they can. In addition, a high level of importance is placed on selecting the right combination of investments based on risk tolerance to assist in reaching one’s retirement income goals. […]

We have had a couple of months now to digest the implications of the SECURE Act and its end to the stretch distribution rule that benefited most individuals who inherit an IRA or 401(k) retirement account on the owner’s death. Rather than permit an individual designated beneficiary to take distributions from the inherited retirement account […]

Late last year, the Securities and Exchange Commission (SEC) attracted a lot of public attention when it issued a proposal to update the definition of an accredited investor. The definition relates to who can, and who cannot, invest in private, or unregistered, investment offerings. Registered securities, like publicly-traded stocks and bonds, mutual funds, and ETFs […]

In the spirit of continuous improvement, each year we set out to identify ways that Greenleaf Trust could have an even greater impact on the communities in which we live and work. Our team currently serves on numerous non-profit and not-for-profit boards, partners financially with community impact firms through giving and fundraising efforts, and collectively […]

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Over the past 12 months, I have read many articles on the topic of CRISPR (Clustered Regularly Interspaced Short Palindromic Repeats) technology, and its potential medical uses. This subject is of particular interest because it is a developing genome editing technology that is controversial but yet shows great promise to treat cancers and other diseases. […]

The Setting Every Community Up for Retirement Enhancement Act, or SECURE Act, was officially approved by the Senate and signed by President Trump during the final weeks of 2019. While much has been written, discussed and debated about the merits of the new Act, it includes significant provisions that improve access to retirement accounts, prevent […]

Being recognized for something that you believe in and work hard at is meaningful. We work hard at helping our clients achieve their goals, and along the way exceeding their expectations. In order to do this, we need a talented, highly engaged team. Which means we also work hard at attracting the best of the […]

The Setting Every Community Up for Retirement Enhancement (SECURE) Act was enacted late last year with a January 1, 2020 effective date. It has been publicized as the most significant piece of legislation affecting the US retirement system in more than a decade, and will inevitably affect a majority of Americans saving for retirement. The […]

A durable power of attorney for health care, sometimes called an advance directive, is an important instrument that assures patient autonomy and ensures that a patient’s wishes with regard to their health care decisions and treatment will be followed. Overlooked, and sometimes misunderstood, is the right of autonomy of medical providers not to provide treatments […]

A significant amount of time is spent with clients focusing on their current wealth plan and discussing strategies for passing wealth to the next generations. Often, the more challenging conversations center on identifying clients’ qualitative goals for passing family values over generations and keeping the family together after the oldest generation dies. Our Senior Trust […]

The Social Security Administration (SSA) announced cost-of-living adjustments to the maximum amount of earnings that are subject to the Social Security tax, as well as a 1.6% increase to monthly Social Security and Supplemental Security Income benefits. This is good news for the nearly 69 million Americans receiving benefits, though this is a modest number […]

Welcome to 2020 and the start of a new decade! As I sit at my desk writing my first article of the new year, the Kalamazoo office of Greenleaf Trust is relatively quiet. The hustle and bustle of wrapping up end of year matters ahead of year end deadlines has been replaced with a more […]