Luncheon: Using an Ohio Family Trust Company (“FTC”) to Transfer Wealth Across Generations sponsored by Fairport Wealth
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About the Program
With the looming sunset of the lifetime exemption at the end of 2025, more families may need to consider using Multigenerational Trusts in minimizing estate taxes to transition wealth and family business ownership across generations. The Ohio Family Trust Company Act passed in 2016 and unlicensed Ohio family trust companies (“FTCs”) continue to gain momentum in Ohio as an integral component of a family’s wealth strategy. FTCs can be established with various corporate structures to creatively met the needs of an individual family by vesting decisions in various family members or groups. Understanding the family dynamics and concerns are key to creating a structure that will harmonize the family to keep them engaged across generations.
About the Speaker
Ms. Steeb is a Senior Managing Director with Clearstead Advisors, an independent wealth management firm headquartered in Cleveland OH which provides financial planning, tax planning, investment management, private family trust company administrative services, family office, and OCIO to private clients and institutions. Ms. Steeb has expertise working with high-net-worth clients, private trust companies and privately held companies to bring creative solutions to complicated estate planning and fiduciary matters. She develops trusting client relationships through her interpersonal skills, strong business judgment and a sensitive approach to family and business dynamics. In working with clients, Ms. Steeb draws on the experience she gained working for families who have experienced a liquidity event, owned a controlling interest in a publicly traded company and operated a privately held business enterprise. Prior to joining Clearstead she coauthored and participated in lobbying efforts to secure passage of the Ohio Family Trust Company Act allowing for both licensed and unlicensed family trust companies in Ohio. Ms. Steeb’s experience has also included forming trust companies in Ohio, Wyoming and South Dakota, and has managed trust companies in Ohio, Wyoming and Delaware.
Ted Robbins, CPA, CFP® │ 2023-2024 Program Chair
Continuing Education –
EPC Cleveland will request approval for this program from the CFP® Board of Standards for CFP® designation holders and from the Supreme Court of Ohio for Ohio attorneys to receive CLE credit. The website will be updated no later than one week before the program with approval status. A certificate of completion will be available for those AEP®, CPA, and CWS designees who feel the program satisfies their continuing education requirements.
Approval status (as of 9/11/23) –
CFP - Pending
CLE - Pending
Reservation Policy –
IN PERSON: All attendees are encouraged to register in advance and walk-in reservations will be accepted on a space-available basis only. The meeting cost is $35 for members when paid in advance before noon 09/08/23, $50 for members at the door, $50 for guests, and $210 for a table of six (can be mix of members and non-members - please submit names to admin@epccleveland.org by 09/08/23). If you reserve and are unable to attend, please call the office to cancel by noon 09/08/23 to avoid a no-show reservation billing.
VIRUTAL: All attendees must register in advance. The meeting cost is $35 for members and $50 for guests. You will receive login credentials with your registration confirmation email.
To reserve, click "Register Now" below.
Thank you to our sponsor:
