Pub. 4 2015 Issue 4

l e a d i n g a d v o c a t e f o r t h e b a n k i n g i n d u s t r y i n k a n s a s 10 T he 2015 MOKAN Trust Conference was held May 6, 7, and 8 at the Sheraton Crown Center in Kansas City, Missouri. As one of the Midwest’s premier trust conferences, there was no shortage of renowned speakers and dedicated business partners/vendors for the over 270 conference participants to engage with. Co-chairmen John Thaemert and Clinton Patterson, from Kansas and Missouri, respectively, welcomed everyone to the conference. Max Cook, president of the Missouri Bankers Association and Chuck Stones, president of the Kansas Bankers Association also shared the spotlight to kick things off. The Wednesday opening keynote was presented by Andy Busch of CNBC. Mr. Busch discussed the risks and rewards facing the Federal Reserve and the 2015 US Economy, as well as providing his own outlook on interest rates, the US dollar, and tax reform. Following the keynote were concurrent breakout sessions for the participants to choose from, including a session that discussed estate planning issues surrounding digital assets by Robert Kirkland; ethical issues in wealth management by Steven Goodman; and legal pitfalls in trust administration, co- presented by Senator Jeff King and Tad Layton. Both the Kansas Trust Division and the Missouri Trust Division held separate annual meetings late Wednesday afternoon. During the Kansas Trust Division meeting, President John Thaemert was honored for his work with the trust division over the last year with a plaque and a watch. The torch was symbolically passed to VP/ President-Elect Curtis Overton, who became the new president of the trust division during this meeting, thereby making John Thaemert the Immediate Past President. Other officers elected to the Kansas Trust Division are: Julie Dalton, VP/President Elect, and Chad Chase, Secretary/Treasurer. Susie Roberts was elected to serve as a director for the Kansas Trust Division as well. Wednesday’s activities concluded with an evening reception hosted by the business partners/vendors for all MOKAN participants. Thursday morning began bright and early with a general session that focused on living with deflation and a 2015 investment outlook. Co-presenters for this session were Daniel Heckman and David Heidel, Jr. Participants then moved into a second general session that dealt with corporate fiduciary liability and litigation by Mike W. Bartolacci. Thursday afternoon’s general session began with more than a little levity! Motivational speaker Brad Montgomery brought his “Laugh-O-Nomics – Connecting Happiness at Work to Business Success” program to the group, and had them even participating in a “flash-mob”, right in the middle of the session! Attendees then moved to concurrent breakout sessions for the remainder of the day. These included a presentation by Stan Haithcock (known as “Stan the Annuity Man”) on the topic of “Annuities: The Good, The Bad…The Truth;” a presentation by Cathy B. Goldsticker on encompassing income tax planning with estate and gift taxes; Bryan Clontz presented his topic of “The Seven Deadly Charitable Planning Sins of Professional Advisors”; and Mike Nelson presented his topic of “Understanding Inherited IRAs: Including Things about Using a Trust.” An evening reception was enjoyed by all. Friday morning the conference concluded with two general sessions. Sal Tripodi spoke on the topic of current key developments affecting retirement plans, followed by Charles (Clary) Redd, who discussed selected recent developments in estate planning and estate and trust administration. 2015 MOKAN TRUST CONFERENCE Curtis Overton Laugh-O-Nomics: Connecting Happiness at Work to Success, was given by Brad Montgomery and received great reviews. MOKAN co-chairs, Clinton Patterson and John Thaemert