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 […]

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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 […]

Often in real estate we hear the mantra: location, location, location. The repeated statement suggests value varies based on the location in which the real estate resides. A similar phenomenon occurs in investing and is referred to as Asset Location. The placement or location of your investments can ultimately provide tax-efficiency and enhanced after-tax returns […]

Parents often treat their children the same when it comes to distributions of their estate in order to avoid conflict or claims of undue influence. While well intentioned, sometimes parents overlook the fact that distributing their estate equally among their children can still cause their children to feel that they were treated neither equally nor […]

As of June 22, 2021, the state of Michigan has been opened to full capacity! In addition, the Michigan Department of Health and Human Services (MDHHS) and the Michigan Occupational Safety and Health Administration (MIOSHA) have also recently rescinded their COVID-19 Emergency Rules. As a result, Greenleaf Trust will be moving to Phase II of […]

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There are few thrills in life that can compare with turning 16 and getting your driver’s license. It’s often the first true sense of independence and freedom that many experience. For me, cruising down the road, windows rolled down, parentless, in a 1992 Pontiac Grand Am was truly unforgettable. Before I could even figure out […]

Americans saw a number of changes to their retirement savings plans when the Setting Every Community Up for Retirement Enhancement Act, or the SECURE Act, was passed two years ago. Get ready for more. The House Ways and Means Committee recently voted unanimously to advance a second bill, the Securing a Strong Retirement Act of […]

With interest rates so low, intra-family loans (also referred to as family loans), using current low interest rates, have garnered significant interest for the purpose of wealth transfer to complement a holistic estate plan. While the majority of the conversation in recent years has focused on wealth transfer as the purpose of a family loan, […]

Optimism abounds as we approach the summer months, with a return to pre-pandemic life appearing closer than ever. Economic optimism has also returned as businesses have reopened their doors and individuals have reentered the labor force. Consumer confidence is near all-time highs with the US personal saving rate remaining well above pre-pandemic levels. Not long […]

It seemed appropriate that on my drive into the office this morning I heard the song “Human Touch” by Bruce Springsteen. The song’s lyrics took on a broader meaning for me as I reflected on the last 14 months. During that time, Greenleaf Trust team members have been working remotely. That has meant long hours […]

At the time of this writing, 145,000,000 Americans have received at least one vaccination shot against COVID-19, representing 43% of the population. Ninety-one million people, or 29% of our population, are now fully vaccinated. The temporary pause in the Johnson & Johnson vaccinations caused an 11% reduction in the five day average daily inoculation rate; […]

“Conventional estate planning focuses most of the attention on assets rather than family. Structures and strategies emphasize tax savings over family needs. The planning perspective needs more focus on protecting the family as opposed to protecting assets or preserving wealth.” -George Bearup, Senior Trust Advisor at Greenleaf Trust The philosophy of protecting the family while […]

April was Financial Literacy Month. Financial Literacy Month is a nationally recognized month created with a goal of improving financial literacy in America. As a financial organization with a holistic approach to wealth management, we want to ensure that financial wellness is at the forefront of all our client’s minds, from our family office and […]

One of the frequently mentioned benefits of a trust is to protect the trust’s assets from a beneficiary’s creditor claims. While many trust beneficiaries do not have creditor problems, many of those same trust beneficiaries are married, and nationwide statistics show that about 50% of marriages end in divorce. One question that frequently arises is […]