Annual Sponsors: Steve Fingerhut & Paige Fingerhut, Probate, Trust & Estate Specialists

Letters from the President

4/1/19
Hello members and perspective members. Happy April Fool's Day! This month we're canceling the meeting, instead the board and Mary are having dinner at L'Opera. We'll post pictures. 
 
I kid, I kid.
 
Seriously though, this month's topic could not be more timely. We will have Stan Stahl, Ph.D., founder of Citadel Information Group, they provide information security management services, and Secure The Village, a non-profit whose mission is a cybersecure Los Angeles. Dr Stahl is an internationally acclaimed expert on cyber security, and a pioneer in the field of information security, having entered the field in 1980. Earlier in his career he secured teleconferencing at the White House, databases inside Cheyenne Mountain and the communications network controlling our nuclear weapons arsenal, and he is passionate about helping you protect your information, your clients, and your technology from hackers. He and his company are the tip of the spear in the fight, protecting you against those who would do you harm over the internet. Not only will he bring us the latest information about international threats, he also has the updated information for those of us doing business in the state of California and what we need to do to prepare for the California Computer Privacy Act. Did you know that though this law goes into effect on 01 Jan 2020, it has a one-year look back? We are all subject to following it right now!
 
Dr. Stahl will also make us better at the human factor. His look at system users as the first line of defense, rather than a liability, changed the way the industry approaches training, and has saved companies countless times from attacks. (And that's just on my desktop.) This is a can't miss. The attached information are topics he will cover, and a great flyer to take back to the office, professional organizations, places of worship, and social media.
 
We also have new members to introduce Thursday. Thank you to the many of you who introduce highly valued, highly vetted professionals to the council. I pray that you and your firms serve your clients well and that you bear much fruit.

 

3/4/19

Greeting members!

 

Last week I was at a large gathering of estate and succession planners in Orange County and once again the topic of how to get clients to take our advice came up. We had a very open and lengthy discussion about the economy, and the role it plays in our client's decisions.  Because planning takes place in the logical side of the brain, but implementation with the emotional side, no amount of logic will sway someone with emotional baggage that fears “upsetting the apple cart.” We heard you, and we will go hard on the topic of getting our clients to execute on their plan with two nationally known speakers in May and June. And we will gain insights that will make us more effective in all walks of life.

 

Thank you to everyone who completed the survey about our speakers from Farmers and Merchants Trust Company. They received very high ratings with over three-quarters of respondents saying that they would like to see them speak to the council again. I agree and even referred them to the South Bay and Inland Empire council's. While the tales from the trenches was memorable, the accounting and investment aspects were full of insights.

 

Reminder: Get 10% off membership fee for next year for every corporate member that you sponsor. If you sponsor 10 corporate members you will get next year for free!

 

We think we hit another home run scheduling Kim Onisko to speak this Thursday. Kim will speak to a topic at the heart of estate and trust planning, Avoiding the common traps when dealing with a family-owned business. Family family-owned businesses administered by fiduciaries are often the subject of litigation by beneficiaries that believe they are not receiving their fair share of the profit or value of the business. A fiduciary must maximize income for income beneficiaries and be cognizant of retaining value for residual beneficiaries. This presentation reviews distinct steps that a fiduciary can take to protect themselves from the claim of improper management. A must see for those of us who have, or expect to have, client's with a family owned business.

 

See you Thursday, and may your March be filled with the luck of the Irish!

 
2/4/19
Happy New Year! 
 
Many of you expressed your appreciation that we've been providing an excellent experience for you, both at our meetings, and as a member of the estate planning and trust council. We have upgraded our website, improved our check-in process, added additional continuing education credits, and also worked very hard to make sure that the speakers are of the very highest quality and bring valuable information, increasing our technical proficiency, but also helping us be more efficient, more productive, and to better serve our clients.
 
We work particularly hard for every meeting to balance the four important quadrants of the council. Technical expertise versus client management and high-net-worth individuals versus the millionaire next door. Each of these categories has distinctive challenges and benefits. You've all had an impact on how the council works, and we thank you and ask that you continue to share your ideas.
 
I look forward to seeing all of you at our upcoming meeting on Thursday February 7th 2019. Remember we begin promptly at noon for lunch with the presentation beginning at 12:30.
 
Our presentation will be headed up by Kevin Tiber, COO of Farmers and Merchants Trust Company, Karin Finnegan CTFA and Ryan Eichenauer CTFA, and Matthew Kimmel CTFA. They will make sure we are all up-to-date concerning the important role trust officers play in administering and managing trust accounts, particularly regarding compliance with federal and state laws. Since we have a good mix of seasoned and growing professionals from all those disciplines, they will spend a few minutes on basics and then get more granular.
-Types of trusts that are managed by trust officers
-Case Studies
-Account Limitations
-Exclusions; who isn't a candidate.
 
And much more.
 
All four presenters are well known experts in trust management, with a strong record of leadership professionally and in the community. I look forward to their insights, and to seeing all of you there.
 
All the best!