In April, 2016, the Department of Labor (DOL) issued a long-awaited rule that would hold brokers and investment advisors to a “fiduciary standard” for the investment of IRA and 401(k) accounts. The basic focus of the rule was to move the brokers and other investment advisors from the “suitability standard” to the higher “fiduciary standard”,…

2017 marks the 13th anniversary of the formation of Legacy Trust.  As we begin this year I wanted to offer that number in quick financial/life tips and ideas to hopefully provoke some thoughts and actions. Increase your 401k contribution percentage (even if that increase is by one percent, it can certainly add up over time).…

Do you own your own business?  Do you work in a field where you are at a high risk of being sued (ex. doctors, nurses, lawyers)?  Do you worry about protecting your assets from potential creditors?  Michigan passed a law in early December that can help, and it will take effect in March 2017.  The…

My name is Tracey Hornbeck and I joined Legacy Trust just 8 weeks ago as Chief Operating Officer and CFO. After 20 years in the industry with a larger institution, it was time to make a change. I carefully thought through what was most important to me in my next career move as well as…

Last December, my wife presented me with a Shinola watch for my birthday.  I wasn’t that familiar with Shinola other than knowing the company was based in Detroit.   I was initially drawn to the packaging of their product, which spoke of elegance and craftsmanship.  The handmade wooden box was adorned with an engraved metal tag…

If there’s one thing this election year should have taught us by now, it’s to expect the unexpected.  On November 8, Donald Trump again defied expectations and was elected as the next President of the United States, and he will be supported by a fully Republican-controlled Congress. Although it initially appeared that we were going…

I’m not sure how much you know about the ABLE act, but in case you didn’t read my last blog, the ABLE act allows an individual with a disability to create a savings account that can hold up to $100,000 without disrupting his or her means tested benefits (technically a Michigan ABLE account can hold…

Mark Periard and Jessica Schilling discuss the use of wills and trusts in the estate planning process.

I can feel it as if I was about to relive it.  My shoulders begin to tighten, my feet and mind move a bit faster.  I race through the parking lot to find an open spot.  I then walk quickly to grab a boarding pass, then off to security.  What am I describing? Airports.  We…

Tom Blower and Brian Balke provide insight and perspective into our holistic, client-centered approach.   [vc_video title=”” link=”https://vimeo.com/185533381″]