Great Lakes Bay Estate Planning Council
(formerly Northeastern Michigan Estate Planning Council)
Thursday, April 25, 2024
FAMILY DYNAMICS & INTERGENERATIONAL CONFLICT: PRESERVING FAMILY WEALTH AND HARMONY
SUSAN ROUNDS, JD, CPA, LLM, TEP, AEP
Director and Head of U.S. Wealth Planning for Deutsche Bank Wealth Management - Americas
The speaker for our April 25, 2024, meeting is Susan Rounds. She is the Director and Head of U.S. Wealth Planning for Deutsche Bank Wealth Management - Americas.
Ms. Rounds has observed that, under the hard glass of the “money magnifier,” the unique qualitative issues and challenges of wealth in families come to the forefront. This presentation identifies the factors predicting success or failure in the transition of family wealth and highlights some practical tools to help advisors navigate the sometimes-rocky landscape: the significance of money beliefs and associations; fundamentals of trust beneficiary communications; designing family meetings; drafting family mission statements; and other tools for advisors working with financial families.
Topics to be discussed in further detail include: The Landscape: Factors Predicting Failure in the Transition of Family Wealth; Factors Predicting Success in the Transition of Family Wealth; Fundamentals of Family Dynamics; Trust Beneficiary Communication Model; Family Governance; Family Meeting; Family Mission Statement; and Resources and Best Practices.
This meeting will be held at the Midland Country Club on Thursday, April 25, 2024. As usual, lunch will begin at noon. The program will start at 12:30 and conclude at 1:30 p.m. A link to the Country Club for a map and directions can be found in the Meeting Notice.
Thursday, February 22, 2024
ECONOMIC EXPECTATIONS FOR 2024
OLU OMODUNGI, Ph.D., Chief Economist and Senior Vice President, Huntington Private Bank
Our speaker for the February 22, 2024, meeting was Dr. Olu Omodungi. He is the Chief Economist and a Senior Vice President of Huntington Private Bank. He indicated that the U.S. economy defied expectations in 2023 despite the Federal Reserve's aggressive hiking cycle. He addressed the major economic themes of 2023 and explained why the Federal Reserve had success with moderating inflation last year. Further, he explained why policymakers are currently patient about cutting interest rates, and shared Huntington Private Bank's economic expectations for 2024.
MEMBERSHIP
The GLBEPC is currently comprised of about 105 members from five disciplines: CPAs, Attorneys, Financial Services Professionals, Trust Officers, and Development Officers of non-profit organizations. Annual dues are $150, which includes the program materials and a buffet luncheon.
A junior membership has been established for those who do not qualify for full membership but are studying for or working toward a designation, certification or qualification in one of the five disciplines. Annual dues are $75. A junior member must be employed by and/or actively involved in one of those fields in the State of Michigan. A junior membership may be renewed for a maximum of five years, with the expectation that, at or before othat time, the junior member would meet the qualifications for full membership.
MEETINGS
The Great Lakes Bay Estate Planning Council (GLBEPC) meets on the last Thursday of September, October, January, February, April and May. Meetings are held in person at the Great Hall in Midland and at Isabella Bank in Mt. Pleasant. Joining by Microsoft Teams is an option, except for the annual meeting in May. The annual meeting is generally held at a different venue and is a more social and light-hearted event designed to bring members who do not see each other often during the year together in one place. The programs begin at noon with a lunch buffet. The presentation begins at 12:30 and concludes at 1:30 p.m.
OUR PURPOSE
To effect and promote the coordination of professional services necessary for proper estate planning, including charitable giving.
To improve the understanding, knowledge and skill of the member professional groups in their efforts on behalf of their clients and in appreciation of each specialized service.
To raise the standards of cooperation between the professional groups for more effective application and employment of professional services in behalf of public interest.
To promote and encourage the appropriate use of the professional services available from the different groups coomprising the membership of this Council.
APPLICATIONS
If you would like to join the Council, please click here for an application form or contact us at admin@glbepc.org. Our mailing address is: GLBEPC, P.O. Box 347, Freeland, MI 48623. For an application for a Junior Membership, please click here.
If you have any questions, please contact us at admin@glbepc.org.
