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Caring about you since 1932.

Non-Profit Growth

/// Posted by Aviva Sapers

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During the downturn in the economy, the large non-profit sector was instrumental in helping to maintain jobs in the greater Boston area.  According to federal data, over 17% of all Massachusetts jobs come from the non-profit sector.  During the downturn, when most other businesses were downsizing or laying off workers, our non-profits created 16,765 jobs.* In the time of need for so many, these non-profits helped the out of work and financially precarious create stability when it was needed most, which in turn helped our state stabilize before most others.

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What can be Done with Old Life Insurance Policies?

/// Posted by Aviva Sapers

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The world of life insurance has changed. A secondary market has come of age in which investment pools are willing to purchase policies from others who are old or sick, and either don’t want the policies or can’t afford to pay the premiums anymore. Usually the policies are salable if the insured has an estimated life expectancy of 12 years or less. The seller won’t receive the full death benefit but will often get paid an amount significantly over the cash value. If it is a convertible term policy, then any amount would be sizable.

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Why so many Charitable Gift Annuities are Underwater…

/// Posted by Bill Sapers

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Although many institutions that have offered CGAs to donors are concerned about the natural extension of life expectancy, or that a large number of female CGA donors could offset the life expectancy experience–increased longevity has not been the major factor of CGA failures.

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Student Loan Repayment Plans – Good for Millennials and Baby Boomers!

/// Posted by Paula Drozdal Connors

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It has been a while since a new employee benefit has made such a splash in such a short time. More and more employers are looking at adding a student loan repayment program to their employee benefits. Two very large employers, Fidelity and Pricewaterhouse Coopers are launching these programs this year, and many other smaller employers are also looking to add these plans to their benefit program. According to the Society for Human Resource Management, 3% of employers offered these plans in 2015.

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Most people do not question the need for life insurance. Life insurance is typically purchased if you owe another person or love another person. It is really no more complicated than that.

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What to use: Family Foundations vs. Donor Advised Funds

/// Posted by Aviva Sapers

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Many wealthy families consider creating Family Foundations (FF) to secure a legacy of giving and to perpetuate philanthropy as a family value. A common question that arises, is whether a Family Foundation is a more appropriate vehicle for multi-generational giving than a Donor Advised Fund (DAF)? I think it’s worth looking at the advantages and disadvantages of each.

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As someone who has been in the estate planning world for 30 years I have had many clients ask for creative ways to leave vacation homes to their kids and grandkids while minimizing taxes. With that in mind, there are some great techniques, from QPRT’s to LLC’s, to pass assets down at discounted values, which I have used many times to great results. But after all my experience, I can honestly say that keeping a vacation home in the family may sometimes create more discourse than harmony.

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What Makes for an Award Winning Wellness Program?

/// Posted by S&W

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The Boston Business Journal recently announced 23 finalists for its fifth-annual Healthiest Employers program, which will be held March 12 at the Westin Waterfront in Boston.

Employee wellness has become an important facet of overall corporate culture, and should not be overlooked as an important component of the workplace. As such, it seems like a good time to broadly examine what sets the leaders in successful wellness programs apart.

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Cadillac Tax: Delayed until 2020

/// Posted by Paula Drozdal Connors

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The Cadillac Tax has been Delayed Until 2020 – What is the Next Step for Employers?

Congress passed and President Obama signed a $1.1 trillion spending bill on December 11, 2015. An important part of that legislation for the employer community is the fact that the so called “Cadillac tax” implementation has been delayed until 2020, a two year delay. The “Cadillac tax” was part of the Affordable Care Act (ACA) also known as Obamacare. Under that law, there is a 40% excise tax applied to group health plan premiums, which exceed annual costs of $10,200 for single coverage and $27,500 for family coverage. There are estimates that as many as 30% of US employers would have been subject to the tax in 2018, the original effective date.

Another important part of the legislation is that it permanently makes the tax deductible to employers. The legislation also calls for a study by the comptroller of the US to look into adjustments in the thresholds due to the ages and genders of an employer’s workforce.

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S&W at Cradles to Crayons

/// Posted by S&W

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The team at Cradles to Crayons!

The team at Cradles to Crayons!

On a Tuesday around 1pm, you would typically find Sapers & Wallack employees either working diligently at their desks or away at client meetings…but not this day! On October 27th, our whole office could be found at the Cradles to Crayons Giving Factory in Brighton, MA. It is here where we would continue on our company’s charitable initiative and donate our time to the Cradles to Crayons cause. The staff of Cradles to Crayons is an amazing group of people who are truly passionate about what they do. Their mission is to provide children from birth through age twelve, living in homeless or low-income situations, with the essential items they require to thrive at home, at school, and at play. These items include basics such as everyday clothing, school supplies, winter clothes, books, hygiene kits, birthday gifts and more.

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