A 1031 exchange can be a powerful tool for high-net-worth families and business owners looking to grow or diversify their real estate portfolios while deferring taxes. However, the process involves detailed regulations, strict deadlines, and specific property requirements. By working with qualified professionals, investors can take full advantage of the benefits of a 1031 exchange while minimizing potential risks and complications.

Investing is a powerful tool for building wealth and securing your financial future, but it is not without its challenges. Even seasoned investors can fall into common traps that can hinder their progress. Whether you are just starting your investment journey or looking to refine your strategy, understanding and avoiding these pitfalls is crucial. By being aware of these mistakes and taking proactive steps to avoid or mitigate them, you can stay on track toward achieving your financial goals.

SECURE Act 2.0: Plan sponsors need to know about new plan start-ups, employees, RMDs, mandatory ROTH catch up contributions, and enhanced catch up provisions.

A wise and important mentor of mine once told me that, “A reputation is a gift you give yourself every day. No one can take it from you, and no one can give it to you. It is the body of your work each and every day that creates your reputation.”

As part of this next chapter, we are now able to act on a request we have received for years from clients who either live or spend their winters in warmer climates. They want us closer to where they are. So, we are also excited to announce that this spring we will be opening our newest office in Naples, Florida. We have already begun the search for the right talent that fits our culture and believe we have found a location that will be centrally located and convenient for our clients in the area.

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.