Download our monthly Perspectives Newsletter. Read More

Background Cash has always been king when purchasing a home, especially in today’s hot housing market. Being able to purchase a home with cash can give you a significant advantage over the other potential buyers. The ability to purchase a home in cash is not feasible for many people without having to draw from their […]

While the 2017 Tax Act effectively doubled the federal transfer tax exemption per person, it also provided that the lower transfer tax exemption would automatically drop beginning in 2026. That scheduled sunset of the higher federal transfer tax exemption has produced among many wealthy individuals a “use-it-or-lose-it” mindset when it comes to estate planning these […]

Much has been written this year about potential changes to tax law in 2021 and many across the country are trying to divine just what exactly Congress will accomplish before December 31, 2021. I will not use this space to add another voice attempting to make that prediction because the real answer is: none of […]

Halloween is just behind us and it’s scarier than ever out there. Consider these fear factors: The damage caused by cybercrime reached $4.2 billion in 2020. (IC3,2020) The average cost of a data breach on remote work is about $137,000 per attack. (IBM,2020) In 2020, malware increased by 358% overall and ransomware increased by 435% […]

Download our monthly Perspectives Newsletter. Read More

Business owners and highly-compensated executives often want to know how they can get more money into their company-sponsored retirement plan. It is common for plans to be designed to assist the high earners of companies with achieving their ultimate goal of ensuring they have a large nest egg of qualified tax dollars at their retirement. […]

“Anything is possible,” were the iconic words spoken by former Boston Celtic, Kevin Garnett, upon clinching Game 6 of the 2008 NBA Finals against the Los Angeles Lakers. At Greenleaf Trust, we would love to be able to peer into a crystal ball and tell you exactly how things will turn out, but we simply […]

If you’re like most people, you give to charity because you want to make an impact on the world or support a cause you care about. But how much and when you give is typically a financial decision. Tax incentives may help you to give more than you could otherwise and provide even more resources […]

It’s highly likely that by the time you’re reading this, the US Congress will have spent the final week of September 2021 debating two momentous spending bills: the Infrastructure Investment and Jobs Act, a budget reconciliation bill (what is being called the “Build Back Better Act”), not to mention a $1.6 trillion continuing resolution to […]

Greenleaf Trust is taking great strides to examine diversity, equity, and inclusion — both within the organization itself and the communities we serve. We are always looking for ways to give back, change our actions to be better and more inclusive and to provide opportunities for our team members to uphold the same expectations. We […]

Several articles within Perspectives have been written about Roth planning techniques. Taking advantage of Roth contribution strategies remains a good financial planning strategy as individuals consider higher income taxes that they may face in their retirement years. As a result, more attention than ever is being given to Roth IRAs, Roth 401(k)s, Roth conversions, as […]

The basic federal estate tax exclusion amount (often referred to as the estate exemption) is the amount a person can pass to their heirs tax-free through lifetime gifting or at death. Currently, the exclusion is $11.7 million per person, which means a married couple can pass a combined $23.4 million to their heirs without any […]

One of the fundamental duties of a trustee is to keep beneficiaries reasonably informed with regard to the trust’s existence and administration. That could be soon changing in Michigan. The Michigan Trust Code imposes broad disclosure requirements on a trustee. Specifically, the Michigan Trust Code provides that a trustee must keep a qualified trust beneficiary […]

Recently updating our estate plan made me think about the actual implementation of the plan. After all, successful plans require attention and thoughtful execution. Do we want to burden our boys with it? If so, should we? Our plan isn’t complicated, but will they actually know what to do? How long will it take? How […]

Download our monthly Perspectives Newsletter. Read More

The IRS requires that retirement plan sponsors file a Form 5500 by the end of the seventh month following the close of the previous plan year. Thus, if a plan is operating on a calendar year, the form would be due on July 31. However, in 2021, July 31 is a Saturday; when that date […]

Download our monthly Perspectives Newsletter. Read More

Download our monthly Perspectives Newsletter. Read More

What a year this has been! Life can be challenging enough without adding a pandemic to the mix. The sense of relief as life begins to return to ‘normal’ feels so good after such a long, unexpected time. Not only is this a good time to reflect on all we have to be grateful for, […]

Offering a high-quality qualified retirement plan, especially in a tight labor market, helps attract and retain talent. Along with offering employees a retirement benefit, employers hold an important fiduciary role to keep the plan in good order through plan administration and following regulatory compliance. Ignoring fiduciary responsibilities may lead to penalties from the Internal Revenue […]