Pub. 8 2019 Issue 6

November/December 2019 15 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 Laura Kelly. The proclamation honors the centennial anniversary and recognizes the positive impact of trust banking in our state. In the spirit of the evening, Mr. Karnes dressed up as a trust officer from 1919 and shared many facts with the crowd about our state and nation during this historic time period. Joe is Vice President and trust officer for Central National Bank in Lawrence, KS. After the breakfast buffet Friday morning, Maureen Lester, with Shepherd Elder Law Group, LLC, did an outstanding job at providing clear and easy to understand information about a complicated topic — Elder Law. She shared some great information on asset protection, durable powers of attorney for both health care and finances, as well as wills and trusts. The U.S. population is faced with many competing financial priorities and must consider the ramifications of living longer, escalating health care costs and the costs of higher education. Steve Christenson of Ascensus shed light on how to prioritize, and in general, what most people saving for. The good news is more Americans are saving for retirement than ever before! Senior Equity Strategist Linda Duessel with Federated offered insight on what is likely to move the equity market in the months ahead, trade war worry, voter concerns and the disconnect between presidential approval and consumer sentiment. She left the group with this thought: Inflation will again be a problem ... someday. The conference wrapped up with Michael Day from Pohl Consulting and Training, Inc., providing his enlightening session, “Looking at Trust and the Fiduciary: In and Out of the Weeds.” He discussed the conflict between state and federal law related to cannabis and the uncertainty regarding how federal criminal and Bank Secrecy Act (BSA) law will, or will not, be enforced against financial institutions providing banking services to marijuana-related businesses (MRBs). Because of this continuing uncertainty, many MRBs must operate on a cash-only basis. This creates significant safety and security concerns for both the MRBs and the communities in which they operate, causes regulatory and tax compliance challenges, and it handicaps business growth. KBA Trust Division Board Members, Tyler Peachey (Peoples Bank & Trust McPherson), Mark Kennedy (Citizens State Bank & Trust Co., Ellsworth) and Lori Bone (Fidelity State Bank & Trust Co., Dodge City). Susie Roberts (Bank of Labor, Kansas City, KS) and Kurt Kauffman (Jackson National, Denver, CO). Janice Peters (Guaranty State Bank & Trust Co., Beloit) introduces Doreen Welsh (U.S. Airways). Doug Wareham (KBA President and CEO) and Joe Karnes (Central National Bank, Lawrence).