|
|
MBA Trust and Investment Services Division
Debbie Mitin, Director of Trust Services
Pursuant to the division bylaws originally adopted on September 28, 1973, the purpose of the Trust and Investment Services Division “shall be to disseminate information among its members relative to the trust business; provide education in areas of mutual interest to its members through conferences and seminars; develop legislative positions; promote professionalism among the trust personnel of Michigan; and, to enhance the public image of the Michigan trust industry. All trust departments whose banks are active members of the Michigan Bankers Association are regular members of the Trust and Investment Services Division.”
The Division is currently reviewing legislation on the Uniform Trust Code, Rule Against Perpetuities, Dynasty Trusts, and Asset Protection. Two trust provisions in the Banking Code were recently reviewed and are currently waiting to be introduced in the legislature. The first provision deals with the purchase of products, services, and securities from an affiliate. The second provision addresses the rebuttable presumption that a published fee schedule is a reasonable fee. These issues represent years of work for the division and ultimately make the job of our trust officers a little easier.
Through its committees, two educational events are sponsored annually. The Retirement Services Conference is held every spring to update and educate our trust retirement professionals (to view this year’s brochure, click here). The Midwest Trust and Wealth Management Conference is held every fall to culminate various aspects of the trust industry. National speakers, regulator updates, and networking are just a few of the reasons for area trust professionals to attend. This conference is co-sponsored by the banking associations in Michigan, Ohio, and Indiana. In addition, our five standing committees and the Trust Peer Group offer a very effective way to keep communication current and active. These committees are (committee rosters are only accessible to committee members):
|
Trust Executive
Staff Coordinator:
Debbie Mitin
The Trust & Investment Services Division shall be self-governing and its purpose
shall be to develop and advocate legislative positions, disseminate information among
its members relative to the trust business, provide education in areas of mutual interest
to its members through conferences and seminars, promote professionalism among the
trust personnel in Michigan, and to enhance the public image of the Michigan trust
industry.
(Login)
|
Trust Counsel
Staff Coordinator:
Debbie Mitin
The Michigan Bankers Association Trust Counsel Committee's mission is to support and
advise the MBA Trust Executive Committee by drafting and reviewing proposed legislation
affecting the trust industry in Michigan, suggest amendatory language to current legislation
helpful to the Michigan trust industry, advise on current issues affecting the trust industry,
and to act as liaison to the State Bar of Michigan Probate & Estate Planning Section.
(Login)
|
|
Trust Retirement
Staff Coordinator:
Debbie Mitin
The Trust Retirement Services Committee will be a resource for educational programs
in the employee benefits area; it will communicate legislative and regulatory
developments at state and federal levels; it will monitor industry issues
affecting such plans; and it will plan and present the annual Retirement
Services Conference.
(Login)
|
Trust Tax
Staff Coordinator:
Debbie Mitin
The purpose of this committee is to provide a sounding board to review current
and proposed legislative, regulatory and judicial action relating to the taxation
of fiduciary accounts; to maintain a good working relationship with the Michigan
Department of Treasury and U.S. Internal Revenue Service; to keep the Trust &
Investment Services Division members informed on matters relating to fiduciary
taxation; and, to provide educational opportunities for their members.
(Login)
|
|
Trust Peer Group
Staff Coordinator:
Debbie Mitin
The Trust Peer Group is made up of trust department heads of banks that have trust
assets up to $300 million and is also open to all trust banks in the state. A variety
of topics have been discussed such as comparative budgets, investment management options,
bank/broker dealer environment, investments product platforms, broker/dealer and
marketing relationships, incentive plan/referrals, marketing, and the changing state
of the trust industry. This is a great way to learn from other trust departments, network,
and hear from outside speakers on topics of interest to the group.
|
|
For more than 30 years, we have been the voice for Michigan’s trust industry through our legislative efforts and educational endeavors.
|
