Alpena Lions Club hears program on benefits of trusts

Christopher Lamb was the speaker at last week’s meeting of the Alpena Lions Club. Lamb is managing partner and principal trust officer of both Old Mission Investment Co. and Old Mission Trust Co. Program chair for the meeting was Gary Stevens.

Lamb began his presentation by outlining what his companies do, and that both are now affiliated with First Federal of Northern Michigan. Next he explained what trusts are and listed their practical uses. He explained how large estates can, in future years, stay in the family and avoid future estate taxation.

The second part of Lamb’s talk was about how retirement income is taxed, both now and in the future. He also touched on how people should think about managing and keeping their stocks and bonds in the future. In his presentation and discussion with the Lions, he noted that he does not speculate on financial markets.

Randy Boboltz provided the club with a final report on the Old Newsboys Sale which was held Oct. 26-27 this year. Each year for more than 50 years this sale has been a cooperative effort of three organizations: The Alpena News which produces a special edition of the paper (this special edition was produced by Steve Murch); Alpena Lions Club, which sells the paper in front of local businesses for two days; and The Salvation Army, which uses the money raised to supplement their giving program of food and clothing to the needy at Christmas time.

This year the top salesperson was Bernie Lamp Jr., followed closely by Randy Boboltz, Andy Lamp and Al Guest. Boboltz reported that the proceeds of the sale were approximately $3,000.