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Books or eBooks: Who’s Winning? {infographic}

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Get the word on who’s leading the book industry. Are you Team Book or Team eBook?
eBooks vs. Traditional Books - infographic

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UMB Financial Corporation (Nasdaq: UMBF) is a financial services holding company headquartered in Kansas City, Mo., offering complete banking, payment solutions, asset servicing and institutional investment management to customers. UMB operates banking and wealth management centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska and Arizona. It also has a loan production office in Texas. Subsidiaries of the holding company include mutual fund and alternative investment services groups, single-purpose companies that deal with brokerage services and insurance, and a registered investment advisor that manages the company's proprietary mutual funds and investment advisory accounts for institutional customers.



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Financial Word of the Week: Credit Shelter Trust

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Financial Word of the Week - credit shelter trust

A Credit Shelter Trust (also known as family trust, non-marital trust or bypass trust) is one that is usually employed as part of a married individual’s estate plan. Upon the death of the first spouse, it is funded with the estate tax exempt amount, sometimes referred to as the Unified Credit. Such a trust is often structured to provide benefits to a decedent’s surviving spouse, without triggering estate tax upon the second spouse’s death. Property in the credit shelter trust can then pass through to descendants upon the death of the surviving spouse with no estate taxes paid by the estate of either spouse. In 2015, the estate tax exempt amount is $5,430,000.

In light of the high exemption amount, it is always a good time to update your estate plan with your legal advisor.

 

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UMB Financial Corporation (Nasdaq: UMBF) is a financial services holding company headquartered in Kansas City, Mo., offering complete banking, payment solutions, asset servicing and institutional investment management to customers. UMB operates banking and wealth management centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska and Arizona. It also has a loan production office in Texas. Subsidiaries of the holding company include mutual fund and alternative investment services groups, single-purpose companies that deal with brokerage services and insurance, and a registered investment advisor that manages the company's proprietary mutual funds and investment advisory accounts for institutional customers.



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Meet the Veterans: Stacey Huddleston

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UMB is fortunate to have several veterans on our team and are proud to hire veterans in our local communities. This series highlights some of our associates who have served their country in the military prior to joining UMB. Be sure to check out the other profiles in our series—Steve MarinRyan Gardner & Lynda McWhirter.

Q&A with Stacey Huddleston, United States Army 1994-1997 E4 SpecialistStacy Huddleston - UMB Bank

Tell us about yourself
I was born in East Moline, Ill. on a very small farm that my family rented near the Mississippi River along the Illinois/Iowa border of the Quad Cities. I learned the benefits of hard work, pride of ownership and dedication to service as soon as I was able to carry a bucket. My first car was a 1951 John Deere A-Style Row tractor.

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It took two years after high school to realize that I needed to make a change in my life, so I joined the U.S. Army in 1994 as a Forward Observer 13F. I exited the Army in 1997 and began my college career at Illinois State University where I earned degrees in Marketing and Economics in 2000.

My first job after college was a credit manager for a large financial institution. I was quickly promoted to branch sales manager and managed four offices and several associates until I left in 2009 to pursue an opportunity with a smaller community bank.  After a few years, I realized that I needed something in the middle and was blessed to have the opportunity to come to UMB in 2011. I love it here!

What about your past shaped who you are today?
Who I am today could be easily summed up with one word. Pride. I take great pride in everything I do.  From the day I was born, I was blessed with a name to be proud of.  My father, Tom Huddleston a retired forklift operator at John Deere Harvester, named me after his supervisor Stacey King. For several reasons, Stacey was the most respected man my father ever knew at the time, and took great pride in knowing that his son would carry the same name as his mentor.

As I grew up I watched my father go on strike every four years or get laid off during slow times, where he would take whatever job he needed to make ends meet.  My father wasn’t necessarily proud of where he worked, but he was extremely proud of the work he accomplished.  I watched my mother, Pam Huddleston, give unconditional positive support to my father during these hardships. She was always proud of my father no matter what the circumstances.

As early as I could remember I would spend entire weekends with my father walking several miles of country roads as we picked up aluminum cans to recycle for extra money for the family. (He’s 75 now and still collects aluminum cans for extra money). It was these times that I learned why we actually had a small farm where we raised hogs, chickens and rabbits. Our animals always seemed to provide for us when we needed it most.

My mother was our CEO/CFO/COO and warden!  She taught me to respect everyone around me, common courtesy and to take pride in myself.  She pushed me to always do better, and expected me to always be as happy as I can be.  My father expected me to simply make good choices and never tarnish the Huddleston name.  He told me that no matter what I ever did, be the very best at it. Take pride in everything you do, everything!

From these lessons I accomplished a few things that have brought me here to this point in my life.  I am the first on either side of my family to graduate high school, to step foot on a university campus, and to earn a college degree. I am the first banker in my family.

Tell us about your family.
Huddleston family at the Alamo
My parents Tom and Pam Huddleston live in Colona, Ill., only 2 miles from where I grew up. My father is retired from John Deere Harvester, doing the same job he was first hired to do.  Shortly after my father retired to spend more quality time with my mother at their home, my mother retired as the homemaker of the “Huddleston House” and has been making sandwiches at a  local restaurant ever since.

I am a proud father of two amazing young men, Brant, 15 and Mason, 14. Brant is finishing up his freshman year and will soon be driving. Mason is very much involved in drama where he’s taken several roles in school. We spend quite a bit of time together doing home projects where I teach them how to use power tools, read a tape measure and use their hands. We spend quite a bit of time outdoors hunting, hiking and taking pictures of the wildlife. I am grateful for the challenges and opportunities that have placed me where I am today.
Huddleston Boys
Why did you choose to join the military?
Two years after high school, I realized that I was on a path of self destruction and going nowhere. I met an Army veteran who mentored me, giving me the confidence to do something great. He also mentioned a free college education program that Illinois offered residents who came back to Illinois after their military service. I quickly found a recruiter and made a long-term plan for success. Within two weeks of meeting a recruiter, I took the entry test and joined the U.S. Army as a Forward Observer 13F with a plan to get back to Illinois as quickly as possible to start college. I never knew what a forward observer was when I joined, but I loved calling in artillery once I figured it out.

Give us some highlights about your military career.
I started off my basic and advanced training at Ft. Sill, Okla., where I heard the word “terrorism” for the first time on April 19, 1995, after the Alfred P. Murrah Federal Building in Oklahoma City was bombed while I was sitting outside our barracks that sunny day.

I spent the next year in the 2nd Infantry Division at Camp Hovey, South Korea, where we were reorganized as the 2nd battalion of the 9th Infantry Regiment “Manchus.” Our commander ordered us to march the traditional 50 mile Manchu road march along the mountainous hills near the DMZ of North Korea to show our force. The entire 2/9th Army nearly caused a conflict that day!

I was then stationed at Ft. Lewis, Wash., where my remaining time in the Army was spent conducting nonstop training in the 25th Infantry Division. My training took me to Ft. Polk, La., Yakima, Wash., and two stops at the National Training Center in California, all in a span of less than a year.  I exited the Army as a Specialist promotable in just less than three years of service to start my college career.

What are the greatest challenges that someone leaving the military and entering a new career faces?
Purpose!  One of the most difficult challenges for anyone leaving the military and adjusting to civilian life is trying to find their purpose.  I find myself talking to other veterans who have had a difficult time adjusting because they feel as if they should be back on the battlefield, or they have survivor’s guilt or they can’t seem to get that adrenaline rush back that had been forced on them for so long.  I believe it’s important that organizations like Warriors for Freedom help organize events and activities for our veterans so that they may feel connected with our community, network with other civilians and help them find their purpose.

I am excited to see UMB organize a Veterans Engagement Taskforce (VET) to give our veterans additional purpose. I believe our focus on veterans will help give them the purpose they need to transition into a new career and adjust from the military lifestyle.

I’m also thrilled to be a new mentor through the ACP program‡ and look forward to working with fellow veterans to help with their transition into civilian life.

What are your favorite ways to give back in the community?
I was raised with the old saying, “give anyone that needs help the clothes off your back without asking for anything in return.”  To this day I try to help everyone I can as much as possible.  I don’t wait for a special event, holiday or gathering to give.  When I see someone in need, I simply do whatever it takes to help them out. Sometimes it’s giving up my lunch or clothes to someone, fixing their home and even pulling trees from their yard.

I think many people believe they have to write a check, or put on a volunteer shirt to make a difference. It’s because of my upbringing and lack of money, where I can truly understand the needs of others and help them when I can.  I work very hard to instill these same values in my two boys, who two years ago helped me hand out Christmas presents to children and feed those who didn’t have a hot meal that day.

What are your favorite ways to spend a weekend?
I rarely sit still long enough to relax, so many of my weekends are spent with my boys hunting, hiking, fishing golfing or working on home projects. I recently purchased a fixer-upper house, and the boys love working with their hands and learning how to operate power tools.

How did you come to be at UMB? What made you want to work here?
I was contacted by a UMB recruiter to apply for the position of commercial business development officer. I had never heard of this position before and had very little information about it at the time. After doing quite a bit of research on UMB, its products and people; I found that there is a long lasting retention rate within the commercial team, and there are so many products and services to offer clients compared to what I was used to. I was sold on UMB once I realized that I was to simply call on the Oklahoma market by offering UMB products and sharing our story.

When you click links marked with the “‡” symbol, you will leave UMB’s website and go to websites that are not controlled by or affiliated with UMB. We have provided these links for your convenience. However, we do not endorse or guarantee any products or services you may view on other sites. Other websites may not follow the same privacy policies and security procedures that UMB does, so please review their policies and procedures carefully.

 


Mr. Stacey Huddleston is a Vice President for UMB. He is responsible for Commercial Business Development for the Oklahoma region. He joined UMB in 2011 and has 14 years of experience in the financial service industry.



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Financial Word of the Week: Estate Tax

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Financial Word of the Week - estate tax

If you’re an heir to a relative or friend’s estate, you need to know what an estate tax is AND realize that there’s a good chance it may not apply to you as it once would have in the past. Estate tax is a transfer tax imposed when someone passes away and leaves his or her assets to you. Currently, the federal government and 16 individual states charge an estate tax.

The federal estate tax rate is currently at 40 percent. Fortunately, the tax code allows all individuals to pass a certain amount of assets (either during their lifetime, at death or a combination of both) before those transfers are subject to the federal estate tax. This amount has jumped dramatically in the past 15 years, going from $675,000 in 2001 to $5,430,000 in 2015. As a result, many estates will not be subject to a federal estate tax.

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UMB Financial Corporation (Nasdaq: UMBF) is a financial services holding company headquartered in Kansas City, Mo., offering complete banking, payment solutions, asset servicing and institutional investment management to customers. UMB operates banking and wealth management centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska and Arizona. It also has a loan production office in Texas. Subsidiaries of the holding company include mutual fund and alternative investment services groups, single-purpose companies that deal with brokerage services and insurance, and a registered investment advisor that manages the company's proprietary mutual funds and investment advisory accounts for institutional customers.



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How to find lifelong financial and physical health

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This last year of my life has been one of the hardest. While I lost a lot of weight and look a lot better, the true prize was the lessons that I learned. One big lesson: your health and finances are directly related. I was lucky enough to have the opportunity to be on ABC’s Extreme Weight Loss and would like to share some of the facts that I have learned!
ABC Extreme Weight Loss - Kelli Poles

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With more than two-thirds of Americans being overweight or obese, the United States depleted about $200 billion of medical spending on obesity related illnesses.  Let’s focus on how we can individually do our part to put a dent in those numbers.

“Isn’t a healthy lifestyle expensive?”

This is the belief that many people have. However if you compare the difference between healthy ways of living with the consequences of medical bills, it’s quite the opposite. Financial and health problems create a vicious cycle. Financial stress can result in skipping meals, poor food choices, missing check-ups or even emotional eating. These all lead to health problems, which then lead back to more financial issues. Another aspect of this cycle is your financial legacy. The morbid fact is that obesity leads to death, and in many cases this causes your family members to take on the financial burden.

Below are some tips that will work for a prosperous life in both the health and financial realm.

  • Organization is Key. Just as you have to organize your finances, such as managing debt, budgeting and managing assets, you need to organize your health with scheduled workouts, food preparation and calorie counting.
  • Communicate. Keeping an open line of communication is crucial. Discuss a budget with your spouse, family or even a financial advisor. This will assure that you are on a clear path and should help you answer any questions you have. With your health—find a support system, with the help of a trainer or health professional, online group or your friends and family. Your level of success will increase when you are held accountable.
  • Write it down. Have a to-do list. There are so many tools for creating a budget or organizing your bills. There are also some great apps for calorie counting and exercise tracking. Or do it the old-fashioned way, and write it on a piece of paper!
  • Have Fun! Take time to relax, and enjoy life. Be responsible about your life, career and physical well being. Protect your health and your wealth by finding a good balance between the two. Remember you are not perfect, and it’s okay to indulge every once in awhile. Just be sure it is in moderation, and use it as a reward!

Extreme Weight Loss Season 5 Episode 2

When you click links marked with the “‡” symbol, you will leave UMB’s website and go to websites that are not controlled by or affiliated with UMB. We have provided these links for your convenience. However, we do not endorse or guarantee any products or services you may view on other sites. Other websites may not follow the same privacy policies and security procedures that UMB does, so please review their policies and procedures carefully.


Ms. Kelli Poles is a Client Relationship Manager for UMB Bank N.A. She is responsible for strengthening relationships with current consumer clients and prospecting externally for new clients. She joined UMB Fund Services in 2011 and has 6 years of experience in the financial services industry.



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Meet the Veterans: Lynda McWhirter

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UMB is fortunate to have several veterans on our team and are proud to hire veterans in our local communities. This series highlights some of our associates who have served their country in the military prior to joining UMB. Be sure to check out the other profiles in our series—Steve Marin and Ryan Gardner.

Q&A with Lynda McWhirter, United States Army Sergeant

Tell us about yourself!
I was born and raised in New Castle, Del., where I spent my first 17 years. I left for the military two weeks after my high school graduation.

What about your past shaped who you are today?
My parents started the foundation of shaping me (although I didn’t recognize it back then). I give a lot of credit to them for my morals and compassion. The military shaped me in my formative years to learn respect, drive, ambition, perseverance, work ethic and discipline. My children helped shape me emotionally, as those of us who have children know, there isn’t any other love like it.
Lynda McWhirter family

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Tell us about your family.
I have four children; three girls and a boy, the youngest being 19 this year. I met my husband Brian, in Kitzingen, Germany, where we were both stationed. All of my children currently live in the Kansas City area.
Lynda McWhirter_children

Why did you choose to join the military?
I listened to a career counselor in my senior year in high school who talked about the military. I initially wanted to join the Navy. However, there was a long waiting list at the time, and I couldn’t leave until the next year. While I was talking to the Navy, an Army recruiter stopped me and told me I could accomplish the same thing in the Army that I could in the Navy – and there wasn’t any waiting! So I joined on the Delayed Entry Program in March of my senior year and left in June. I wanted to travel and to go somewhere other than the boundaries of the tri-state area (Delaware/New Jersey/Pennsylvania).

What do you remember most about your military career?
I took Basic Training in Ft. McClellan, Ala., during the hottest time of the year! My first highlight was an incredible feeling of pride that I’d never felt before. It came when I was standing in dress uniform in military formation at graduation, and they passed by with the American flag, playing the National Anthem.
Lynda McWhirter - Army graduationI went on to Aberdeen Proving Ground, Md. Maryland, for my Advanced Individual Training, then to Ft. Lewis, Wash., near Seattle, then on to Kitzingen, Germany.

What I remember best from my career is surviving basic training, firing the M16, throwing grenades, driving a tank, touring Germany and the endless number of friends I met along the way. I spent four years in the regular Army and two years in the Reserves at Richards-Gebaur Air Force Base, and was promoted to Sergeant along the way. My Military Occupational Specialty (MOS), or my job, was initially a small equipment repairman. I still find that job interesting. My secondary MOS was an administrative specialist. I did my first MOS for about six months and then spent the rest of my military career as an administrative specialist – like what Radar did on M.A.S.H.

What impact did the military have on you?
When I was in the military, we were the last women’s group to go through basic as WACs (Woman’s Army Corp) and we were still highly segregated from the men in infantry.  After my experience as a female in the military I remember wondering just what it was going to be like before I left for basic training, so I decided to write a book about it. I gathered some instances of what I remember some of my fellow female soldiers had gone through and some experiences of my own, intertwined them, and created the character Leslie. I took her on a journey from high school through military life in The Changing Winds of Destiny (pen name Anna Douglas).
The Changing Winds of Destiny by Anna Douglas
What are the greatest challenges that someone leaving the military and entering a new career faces?
One of the greatest challenges of the transition from military to civilian life is the emotional one. The feeling of security and belonging you feel in the military can seem to fade as you venture into the work world and corporate America. Because everyone is away from their families in the military and you don’t always go home to them every night, the people you are stationed with become your family. You depend on them for almost everything, including having your back in the direst of circumstances. When you enter the work world, the strong camaraderie might be there with other co-workers but not as strong as it was in the military. Sometimes that can be a hard transition to make. 

What are your favorite ways to spend a weekend?
I enjoy reading, writing and being outdoors, especially camping, boating, swimming, fishing, playing with my dogs or just working in the yard. In the winter, I like to snowmobile.

How did you come to be at UMB? What made you want to work here?
I was transitioning from another job and applied online. My daughter, who is in the banking world, talked to me about UMB and told me I should apply because she always heard that it was a great place to work.

 

When you click links marked with the “‡” symbol, you will leave UMB’s website and go to websites that are not controlled by or affiliated with UMB. We have provided these links for your convenience. However, we do not endorse or guarantee any products or services you may view on other sites. Other websites may not follow the same privacy policies and security procedures that UMB does, so please review their policies and procedures carefully.


Mrs. Lynda McWhirter is a Payroll Supervisor for UMB Financial. She, along with a great manager and team, are responsible for making sure you get paid every two weeks! She joined UMB in January 2015 and has 20 years of experience in the payroll/financial services industry.



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Financial Word of the Week: Corporate Fiduciary

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Financial Word of the Week - corporate fiduciary

A corporate fiduciary is a financial institution that exercises fiduciary‡ responsibility for the benefit of an individual or individuals. Mostly commonly, it’s children and the elderly who need fiduciaries. A fiduciary exercises a high standard of care in managing another’s money or property. Fiduciaries can be known by many names – trustee, executor and conservator are a few common examples of fiduciaries in an estate planning context. For more, read our post on “What are fiduciaries and why do you need them?”

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Corporate fiduciary vs. individual fiduciary

Some of the advantages to hiring a corporate fiduciary over an individual fiduciary include gaining the institution’s financial expertise, neutrality, longevity, and high standard of care. Corporate fiduciaries have these pros:

  • many years of experience in managing and investing funds for clients,
  • no ties to any one beneficiary, and so will be in the best place to follow the grantor’s wishes,
  • longevity that eliminates concerns that death or disability of an individual fiduciary will  interfere with management of assets, and
  • will exercise a high standard of care, as they have internal safeguards and audits to ensure compliance to state and federal regulations governing fiduciary conduct.

Regardless of the nature of the role, the aim of a corporate fiduciary is to make the best financial decision for the beneficial owner of any assets under its supervision.

When you click links marked with the “‡” symbol, you will leave UMB’s website and go to websites that are not controlled by or affiliated with UMB. We have provided these links for your convenience. However, we do not endorse or guarantee any products or services you may view on other sites. Other websites may not follow the same privacy policies and security procedures that UMB does, so please review their policies and procedures carefully.


UMB Financial Corporation (Nasdaq: UMBF) is a financial services holding company headquartered in Kansas City, Mo., offering complete banking, payment solutions, asset servicing and institutional investment management to customers. UMB operates banking and wealth management centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska and Arizona. It also has a loan production office in Texas. Subsidiaries of the holding company include mutual fund and alternative investment services groups, single-purpose companies that deal with brokerage services and insurance, and a registered investment advisor that manages the company's proprietary mutual funds and investment advisory accounts for institutional customers.



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Our biggest UMB Big Bash® yet!

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Rob Thomas & Plain White T's, June 22, Kansas City, The Great Unknown tour

Plain White T’s kicked off the entertainment for the evening, followed by Rob Thomas of Matchbox Twenty fame.

Our 5th and biggest UMB Big Bash took place last week at Sprint Center. Thanks to our incredible sponsors and supporters like you, the UMB Big Bash Foundation donated $50,000 each to Literacy Kansas City and reStart, Inc.. Read more about how this year’s beneficiaries plan to use their grants.

Let’s revisit some highlights from the BIG event:

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Beneficiaries

Literacy Kansas City will launch a Career Online High School to help its higher-level readers earn a high school diploma. reStart, Inc., is working to permanently house and provide short-term financial assistance and supportive services to low-income veteran families in Wyandotte and Jackson counties.UMB Big Bash presents checks to reStart, Inc. and Literacy Kansas City

Top photo, pictured left to right giving and receiving the BIG checks are: Mike Hagedorn (President and CEO of UMB Bank), Mariner Kemper (chairman and CEO of UMB Financial Corporation and UMB Bank), Evelyn Craig (President and CEO, reStart, Inc.), Kevin Jamison (Outreach Specialist for the Supportive Services for Veteran Families program) and Peter deSilva (President and COO of UMBFC)

Bottom photo, pictured left to right: Peter deSilva, Mike Hagedorn, Carrie Coogan (Executive Director and CEO, Literacy Kansas City), Mariner Kemper and Peggy Shannon (Literacy Kansas City program participant)

Silent Auction
2015 UMB Big Bash silent auction

VIP meet and greet with Rob Thomas
Rob Thomas 2015 "The Great Unknown" tour - Sprint Center

Be sure to post your own UMB Big Bash photos to the  Facebook page and tag yourself in our photos of YOU!

Sprint Center - UMB Big Bash 2015

Thanks for another great year!

 

When you click links marked with the “‡” symbol, you will leave UMB’s website and go to websites that are not controlled by or affiliated with UMB. We have provided these links for your convenience. However, we do not endorse or guarantee any products or services you may view on other sites. Other websites may not follow the same privacy policies and security procedures that UMB does, so please review their policies and procedures carefully.


Mr. Kemper is the chairman and chief executive officer of UMB Financial Corporation and UMB Bank, n.a. He joined UMB in 1997. Mr. Kemper is active in both civic and philanthropic endeavors. One of the causes he is most passionate about is the arts. He currently serves as a trustee and executive committee member for the Denver Art Museum and is a past board member for The Arts Council of Metropolitan Kansas City.



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Financial Word of the Week: Charitable Remainder Trust

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Financial Word of the Week - charitable remainder trust

Conceptually, a charitable remainder trust (CRT) is similar to a charitable lead trust (CLT), except the payouts happen in the reverse order. In fact, a CRT is a trust that provides for distributions  to one or more individuals for a term specified under the terms of the CRT, with the balance passing to one or more charities at the end of the specified term.  The individuals generally receive an annual payment equal to a fixed annuity amount or a percentage of the trust assets valued annually.  The individuals will generally receive these payments either for a term of years (up to 20 years) or throughout the lives of one or more named individuals.

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Unlike a CLT, a CRT is considered a tax-exempt trust, and the trust itself does not pay any taxes. This allows the donor a current charitable deduction for contributions made to the CRT with the amount of the deduction being the present value of the remainder interest that will pass to charity. This makes a CRT a great vehicle for highly appreciated assets as the assets can be contributed to the CRT and the assets will not generate any tax to the trust when sold inside the CRT. However, it is important to note that the payments made to the individuals, may be subject to taxes at the individual level. Also, it is important to note that in order to receive the tax benefits and to qualify as a CRT, the IRS has placed certain restrictions on how a CRT must be structured, this is in part to ensure that a portion of the assets will in fact pass to the designated charities.

For more information on estate planning, check out our post on the benefits of a will.


UMB Financial Corporation (Nasdaq: UMBF) is a financial services holding company headquartered in Kansas City, Mo., offering complete banking, payment solutions, asset servicing and institutional investment management to customers. UMB operates banking and wealth management centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska and Arizona. It also has a loan production office in Texas. Subsidiaries of the holding company include mutual fund and alternative investment services groups, single-purpose companies that deal with brokerage services and insurance, and a registered investment advisor that manages the company's proprietary mutual funds and investment advisory accounts for institutional customers.



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Meet the Leadership Series: Maureen Quill (UMB Fund Services Chief Operating Officer)

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Q&A with Maureen

Get to know UMB’s leadership a little better. Nearly 20 years ago, Maureen Quill joined UMB Fund Services which just celebrated its 25th anniversary and is consistently named one of the Milwaukee Journal Sentinel’s Top Places to Work. She was recently featured in Milwaukee Business Journal’s Women of Influence series.
UMB Fund Services Maureen Quill

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Tell us about yourself
I was born and raised in Dubuque, Iowa.  I went to Saint Mary’s College in Notre Dame, Indiana. I graduated with a Bachelors of Business Administration degree with a concentration in management and finance. I met my husband, Mike, on a blind date at the end of my freshman year. Mike is from the Chicago area, but he transferred to Notre Dame from Loras College which is located in Dubuque. My family and extended family are Notre Dame fans (fanatics may be a better description) and many members of my family graduated from Loras – destiny seemed to play a hand in our meeting! We married soon after college.

My first job was working in the Children’s Room of the public library in Dubuque. I worked there for two and a half years during high school and loved it. As an avid reader, the library was the perfect fit for me.  My first job out of college was as a call center representative at a mutual fund company.

I worked for that mutual fund company in Chicago for five years, in Kansas City for almost six years and in Milwaukee for a year. Then I worked for Sunstone for five years before UMB acquired Sunstone in 2001. I have spent my entire 30 year career in back office operations and management.

What about your past shaped who you are today?
Maureen Quill - UMB Fund Services
My parents were both ahead of their time. My mother worked full time as an ophthalmologist technician and my father was an accountant for Deere & Co. My mom loved her work and didn’t retire until age 75. My dad was always very supportive of her career. They set a good example of marriage being an equal partnership for my siblings and me. My parents infused strong moral and ethical values and expected us to get a good education and contribute to our communities. They encouraged my siblings and me to work hard and accomplish much.

Tell us about your family.
Maureen Quill with husband Mike
My husband Mike and I will be married 30 years in December.  Mike is a marketing consultant for small to mid-size manufacturing businesses. We have four children. Mitchell is 25 and in his last year of chiropractic school. Our triplets are 20. Our son Murphy is a sophomore at Marquette. Our daughter Mairead is at home with us, and our daughter Maiti is a sophomore at Saint Mary’s College, Notre Dame.
Maureen Quill and family
What makes a Chief Operating Officer great?
A COO’s job is to make sure that your team has the tools, training and support needed to successfully provide the unparalleled customer experience to our clients all the while keeping an eye on the bottom line.

What are your favorite hobbies?
My favorite hobbies are spending time with my family, reading, movies and cooking.

Where is your favorite place to travel?
I like to go to different places but water, mountains, hiking and history are common themes.

What are your favorite ways to spend a weekend?
My favorite are fall football weekends at Notre Dame. We go to three or four games a year, and family and friends are always part of the festivities.

Tell us about your team at UMB Fund Services.
There are seven members of my immediate team including me. Four of us have new roles within the last nine months!  This has been a year of stretch assignments and change but all for the good. My team has an average of seven years with UMB Fund Services and more than 25 years in the industry.

UMB Fund Services has $202.7 billion in assets under administration. We have more than 200 clients and provide fund accounting, fund administration, transfer agency, distribution services, custody and cash management for pooled investments such as mutual funds, hedge funds, alternative investments, collective trusts, etc.

We have more than 400 employees located in Milwaukee, Wisc., Ogden, Utah, Chadds Ford, Penn. and Kansas City, Mo.

My team all has the same focus: great customer service to our clients, our associates and to each other. We work to solve problems as a team, we are collaborative, all ideas are open to discussion, and we are focused on finding a way to say YES to our clients – getting to the right solution for the client and for UMB Fund Services.

What is the greatest challenge facing the industry right now?
There are two things that come to mind. The first is regulation which is constantly changing and challenging to us, our clients and our technology. The second is our growth. Hiring, training and retaining the right people to service our clients and grow with UMB Fund Services is a challenge.

 

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Maureen Quill is Chief Operating Officer for UMB Fund Services. She is responsible for overseeing transfer agency, fund accounting and administrations, tax, distribution, alternative investments, technology and client services. She joined UMB Fund Services in March, 1996 and has 30 years of experience in the financial services industry.



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