VIRTUAL · 2020. 7. 29. · 11 – 11:30 a.m. Virtual Trade Show Open 11:30 a.m. – 12:30 p.m....
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41st Annual MOKAN Trust & Financial Services Conference VIRTUAL August 17-19
Transcript of VIRTUAL · 2020. 7. 29. · 11 – 11:30 a.m. Virtual Trade Show Open 11:30 a.m. – 12:30 p.m....
41st Annual
MOKAN Trust & Financial Services Conference
VIRTUALAugust 17-19
Conference at a GlanceMONDAY, AUGUST 17 ___________________________8 - 8:45 a.m. Virtual Trade Show Opens8:45 a.m. Welcome & Overview of Schedule9 – 10 a.m. General Session10 – 10:10 a.m. Sponsor Spotlights10:10 – 11:10 a.m. General Session11:10 – 11:20 a.m. Sponsor Spotlights11:20 a.m. – 12:20 p.m. General session12:20 – 12:50 p.m. Lunch Break12:50 – 1:20 p.m. Virtual Trade Show Open1:20 – 2:20 p.m. General Session2:20 – 2:30 p.m. Sponsor Spotlights2:30 – 3:30 p.m. General Session3:30 p.m. Adjourn for the day3:30 - 4 p.m. Virtual Trade Show Open
TUESDAY, AUGUST 18 ___________________________8 – 8:30 a.m. Virtual Trade Show Opens8:30 a.m. Welcome & Overview of Schedule8:45 – 9:45 a.m. General Session9:45 – 9:55 a.m. Sponsor Spotlights9:55 – 10:55 a.m. General Session11 – 11:30 a.m. Virtual Trade Show Open11:30 a.m. – 12:30 p.m. Lunch Break 12:30 – 1 p.m. Virtual Trade Show Open1 – 2 p.m. General Session 2 – 2:10 p.m. Sponsor Spotlights2:10 – 3:10 p.m. General Session3:10 p.m. Adjourn for the day3:10 - 3:30 p.m. Virtual Trade Show Open
WEDNESDAY, AUGUST 19 ________________________8:30 – 9 a.m. Virtual Trade Show Open9 a.m. Welcome & Overview of Schedule9 :10 – 10:10 a.m. General Session10:10 – 10:20 a.m. Sponsor Spotlights10:20 – 11:20 a.m. General Session 11:20 a.m. Closing Remarks & Adjourn11:30 a.m. - 12:30 p.m. Virtual Trade Show Open
CONTINUING EDUCATION CREDITS ________
The program will be submitted for approval
to the following for continuing education credits approval:
CLE
Arkansas, Iowa, Kansas, Missouri, Nebraska, Oklahoma
CFP
CTFA, CISP, CRSP
Kansas Insurance Credits
CPE Credits
CPE Continuing Education – CPE will be granted to registered attendees upon request.
Specialized Knowledge – 13.5 credits
Instructional Delivery Method: Group Live & Re-cording at the Conclusion of the conference
Prerequisites: Intermediate knowledge of fidu-ciary and trust practices.
Program Level: Interemediate
Advanced Preparation: None
Once approved, the continuing education credits will be available on the following websites:
www.mokantrustconf.com
www.mobankers.com
www.iatrust.com
Information will also be available prior to the conference. For information regarding credits, please contact Cheri Messerli at the Missouri Bankers Association by phone (573) 636-8151 or e-mail [email protected].
MONDAY, AUGUST 17 _________________________________________________8:00 – 8:45 a.m. Virtual Trade Show Open
8:45 a.m. Welcome & Overview of Conference Schedule
9:00 – 10:00 a.m. General SessionSession
FUNCTIONAL FIDUCIARY LIABILITY REDUCTION
Robert D. Hodges Haley Van LoonBrown Winick Law Firm Brown Winick Law FirmProfessional fiduciaries are compensated for an ability to administer documents in an impartial manner. Risk is an inherent part of the administration process. With the addition of counsel wellversed in the nuances of representing fiduciaries, some of the inherent risk to the professional fiduciary can be mitigated. Although at times counter-intuitive, fiduciary litigation can often prevent fiduciary liability. Ms. Van Loon and Mr. Hodges will discuss the best practices for managing fiduciary risk prior to and during litigation, preventing fiduciary litigation during the drafting of documents, the creation of a cross-functional fiduciary litigation team and the appropriate use of outside counsel. Among the specific items addressed include: drafting for special assets, the inclusion of exculpatory clauses within estate planning documents, the strategic use of family settlement agreements, applications to the Court to limit liability, preemptive filing, outside counsel staffing, preparing for testimony by the professional fiduciary, and compensation
of the fiduciary.
10:00 – 10:10 a.m. Sponsor Spotlights
10:10 – 11:10 a.m. General Session
THE ZIG ZAG OF CANNABIS, TRUST AND INVESTMENT
Michael DalyPohl ConsultingIt’s there behind the haze, a growing interest in cannabis as a product, as a business, and as an investment. Is the grass getting greener in this budding new industry?
More than half of Americans live in states where medical or recreational marijuana is legal, and when CBD products are factored in, the number is much higher. For a fiduciary, particularly those regulated and insured by national agencies, marijuana related businesses and marijuana related investments present a dilemma. State marijuana laws conflicts with federal policy, and that creates a challenge for banks and trust companies.
Although there is no clear roadmap, this session will explore the pot holes of marijuana related business and investment. It will provide both legal context and trends, as well as the practicalities of how to plan for and protect investment and reputation.
A G E N D A
A G E N D A11:10 – 11:20 a.m. Sponsor Spotlights
11:20 – 12:20 p.m. General Session
QUICKSAND! ETHICAL HAZARDS FOR TRUST OFFICERS AND FIDUCIARY SERVICES COMPANIES
Robert Kirkland Alice HaseltineKirkland Woods & Kirkland Woods & Martinsen LLP Martinsen LLPThe purpose of this presentation is to present several real-life scenarios to the audience and encourage discussion of the appropriate way to handle each such scenario. The scenarios will involve issues of conflicts of interest, multiple generation representation, confidentiality, communications, and having a cheat for a client/customer. We strongly encourage the input of those in the audience in arriving at the appropriate response!
12:20 - 12:50 p.m. Lunch Break
12:50 – 1:20 p.m. Virtual Trade Show Open
1:20 – 2:20 p.m. General Session
PLANNING FOR THE END OF THE STRETCH IRA
Christopher R. HoytProfessor of LawUniv. of Missouri (Kansas City) School of LawThe SECURE Act made many changes to the rules that govern retirement plans, including a new higher age for required minimum distributions (age 72) and greater flexibility for 401(k) plans. This session will examine the new rules, focusing on planning strategies to cope with the new requirement that most (but not all) inherited retirement accounts will have to be liquidated within ten years after the death of the account owner.
2:20 – 2:30 p.m. Sponsor Spotlights
2:30 – 3:30 p.m. General Session
CHARITABLE GIFT PLANNING (INCLUDING THE IMPACT OF THE CARES ACT) AND NAVIGATING RMDS UNDER THE SECURE ACT
Ruth Brackney Joe GrowneyLathrop GPM LLP Lathrop GPM LLPWe will review various techniques to make charitable gifts during lifetime and upon death, and will discuss the impact of the CARES Act on charitable giving in 2020. In addition, we will explore the impact of the SECURE Act on IRAs, including changes to the required minimum distributions for inherited IRAS, and options for naming beneficiaries of IRAs, including trusts.
3:30 p.m. Wrap Up and Adjourn
3:30 – 4:00 p.m. Virtual Trade Show Open
A G E N D A
A G E N D ATUESDAY, AUGUST 18 _________________________________________________8:00 – 8:30 a.m. Virtual Trade Show Open
8:30 a.m. Welcome and Overview of Conference Schedule
8:45 – 9:45 a.m. General Session
2020 - THE YEAR OF LIVING DANGEROUSLY (ECONOMICALLY SPEAKING)
Chris Kuehl Armada Corporate IntelligenceThe year has gotten off to a pretty solid start and confidence levels are high among consumers, investors and the overall business community. Will this last? As a “dismal scientist” it is important to look for the problems on the horizon. Is there a chance for recession? Inflation? Will trade wars have a bigger impact? What happens with global growth? Is unemployment going up or will labor shortage still be the big issue. Most importantly, how does all this affect the banking and financial communities?
9:45 – 9:55 a.m. Sponsor Spotlights
9:55 – 10:55 a.m. General Session
FEDERAL TAX UPDATE
Samuel A. DonaldsonGeorgia State University College of LawThis informative and entertaining presentation recaps the important cases, rulings, regulations, and legislation from the past 12 months related to federal income, estate, and gift taxes. Specific topics to be addressed will likely include the SECURE Act, the final “clawback” regulations, and state taxation of nonresident trusts.
11:00 – 11:30 a.m. Virtual Trade Show Open
11:30 a.m. – 12:30 p.m. Lunch Break
12:30 - 1:00 p.m. Virtual Trade Show Open
1:00 – 2:00 p.m. General Session
GREASING A TRUST’S SQUEAKY WHEEL
Lauren WolvenLevenfeld Pearlstein, LLC Chicago, ILAddiction and mental health issues present significant risks to family wellbeing and wealth preservation, and recent research suggests higher incidence of these issues within affluent communities. These beneficiaries oftentimes disrupt and modify the family dynamic, sometimes even in ways that are not readily apparent. This presentation will address techniques for working with beneficiaries who face mental health or substance abuse challenges, autism spectrum and other executive functioning disorders.
CLE goals: (1) To learn signs that might indicate substance abuse, mental health or special needs issues in clients/beneficiaries. (2) To understand the way that a beneficiary’s own difficulties can impact the family as a whole. (3) To learn techniques for working with beneficiaries facing substance abuse, mental health or special needs issues. (4) To acquire drafting techniques to reduce opportunities for conflict within families.
2:00 – 2:10 p.m. Sponsor Spotlights
2:10 – 3:10 p.m. General Session
PLANNING FOR UNIQUE ASSETS
Michael Barnes Director of the Sports Arts Entertainment ANDERSThis presentation will blend the legal and practical aspects of handling our client’s various collections. We will discuss issues surrounding the catalog and storage process, insurance requirements and the valuation steps to ensure a proper sale or other transfer. Michael Barnes will share his experiences working on many high profile collections and Jeff Keiser will outline the fiduciary challenges that are faced in handling these collections. This session will present useful planning, administration and disposition techniques, with particular attention on assets that pose unusual risks for trustees.
3:10 p.m. Wrap Up
3:10 – 3:30 p.m. Virtual Trade Show Open
A G E N D A
A G E N D AWEDNESDAY, AUGUST 19 _____________________________________________8:30 – 9:00 a.m. Virtual Trade Show Open
9 a.m. Welcome & Overview of Conference Schedule
9:10 – 10:10 a.m. General Session
TRUSTS AS BENEFICIARIES OF IRAS
Michael E. Kitces, MSFS, MTAX, CFP®, CLU, ChFC, RHU, REBC, CASLBuckingham Wealth Partners As the use of trusts in estate planning becomes increasingly popular for both tax and non-tax reasons, and clients continue to accumulate more and more assets in retirement accounts, the use of trusts as beneficiaries of IRAs is increasing desirable and necessary. Unfortunately, though, the rules pertaining to IRAs payable to a trust after death are complex and challenging. In this session, we will explore the unique requirements for IRAs to preserve and maximize their tax deferral after death when a trust is the beneficiary, with details about the rules for trusts to qualify for the IRA’s post-death tax deferral “stretch,” how to calculate the actual post-death required minimum distributions for the trust, and examples of specific wording from sample trusts.
10:10 – 10:20 a.m. Sponsor Spotlight
10:20 – 11:20 a.m. General Session
EXPANDING THE FRAMEWORK OF SAFE WITHDRAWAL RATES
Michael E. Kitces, MSFS, MTAX, CFP®, CLU, ChFC, RHU, REBC, CASLBuckingham Wealth Partners Determining a “safe” amount of retirement spending is an increasingly popular topic amongst financial planners, yet a great deal of confusion exists about the current state of research and how it should be applied. In this session, we will explore the evolution of safe withdrawal rate research, from its starting point with Bengen almost 20 years ago, to the subsequent breadth of additional research on the impact of factors like expenses, taxation, varying time horizons, greater diversification, spending flexibility, annuities, and more. Ultimately, the outcome is a richer framework for determining safe sustainable spending levels for clients, adapted to the individual’s own circumstances.
11:20 a.m. Closing Remarks
11:30 a.m. – 12:30 p.m. Virtual Trade Show Open
REGISTRATION INFORMATION ____________________________________________
Per Person ................................ was $465 Now $390 per personNOTE: We will issue an invoice based on initial registrations from a bank/trust company/firm. Following the virtual
conference, we will review the attendee list, and if additional employees attend, we will send a second invoice based on the pricing above to reconcile the difference.
Fees include all conference materials available digitally and speaker recordings at the conclusion of the conference.
Cancellation Policy - A full refund will be made for cancellations received on or before Thursday, August 6. An administrative fee of $70 per canceled registration will be retained after Friday, August 7. Cancellations will not be accepted after Monday, August 10, and no refunds will be given. Substitutions are always permitted. Advance conference financial commitments necessitate this policy.
Attendance and Continuing Education Policy - To preserve the integrity of our registration process and to receive continuing education credits, all persons enrolled to attend must pay the registration fee. Sharing the link to log in the day of the conference to those not officially registered is not recommended. Following the virtual conference, we will review the attendee list and if additional employees attend, we will send a second invoice based on the pricing above to reconcile the difference.
Make checks payable to “MOKAN Conference Association, Inc.” and send with completed enrollment form to:
LeAnn Mott Phone (785) 232-3444Kansas Bankers Association FAX (785) 272-8392 P.O. Box 4407Topeka, KS 66604
STAFF CONTACTS _______________________________________________________
Kansas Bankers Association Brenda L. Unruh, AAP Email: [email protected] Bankers Association Phone: (785) 232-3444 P.O. Box 4407Topeka, KS 66604
LeAnn Mott Email: [email protected] Bankers Association Phone: (785) 232-3444 P.O. Box 4407Topeka, KS 66604 Missouri Bankers AssociationCheri Messerli E-Mail: [email protected] Bankers Association Phone: (573) 636-8151P.O. Box 57Jefferson City, MO 65102
GENERAL INFORMATION
REGISTRATION FORM2020 MOKAN TRUST & FINANCIAL SERVICES CONFERENCE REGISTRATION FORM
August 17-19, 2020 – VIRTUAL
Please PRINT or TYPE below. You may photocopy this form for additional registrants. Deadline to submit is August 12.
REGISTRATION FEES _____________________________________
(ALL REGISTRANTS WILL RECEIVE AN EMAIL WITH THE CONFERENCE LINK ON AUGUST 13)
Per Person Fee ....................................... $390 # _____ $ ________
Non-Sponsoring Vendor* ......................$915 # ______ $ ________
Total amount due ............................................................. $ ________
*Applies to vendors who are not sponsoring an event at the conference.
PAYMENT ______________________________________________
Check enclosed, payable to
MOKAN Conference Association, Inc.
Credit Card Payment (Please type or print.)
VISA MasterCard Amex
Exp. Date ______________________________________________
No. ___________________________________________________
Type Name ____________________________________________
Signature ______________________________________________
(I agree to pay the above total amount)
MAIL, FAX OR EMAIL REGISTRATION FORMS TO _______________
Kansas Bankers Association Phone 785-232-3444ATTN: LeAnn Mott FAX 785-272-8392P.O. Box 4407 [email protected], KS 66604
CANCELLATION DEADLINES ________________________________
A full refund will be made for cancellations received on or before Thursday, August 6. An administrative fee of $70 per canceled registration will be retained after Friday, August 7. Cancellations will not be accepted after Monday, August 10, and no refunds will be given. Substitutions are always permitted. Advance conference financial commitments necessitate this policy.
REGISTRANT(S) __________________________________________
Name ___________________________________________________
Title ____________________________________________________
Institution _______________________________________________
Address _________________________________________________
City/State/Zip ____________________________________________
E-mail __________________________________________________
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Name ___________________________________________________
Title ____________________________________________________
Institution _______________________________________________
Address _________________________________________________
City/State/Zip ____________________________________________
E-mail __________________________________________________
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Name ___________________________________________________
Title ____________________________________________________
Institution _______________________________________________
Address _________________________________________________
City/State/Zip ____________________________________________
E-mail __________________________________________________
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Name ___________________________________________________
Title ____________________________________________________
Institution _______________________________________________
Address _________________________________________________
City/State/Zip ____________________________________________
E-mail __________________________________________________
