Considerations Regarding Trust Owned & Individual Life Insurance


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Course Description

This program was recorded on March 14, 2019

As has been the case for many years, CPA’s focus on the numbers and Attorney’s focus on the legalities of a Trust.  However very few people think about the underlying assets funding an ILIT or SNT, a ‘life Insurance policy’. Currently 55% of the life policies in existence are of a non-guaranteed nature. Further according to an American Bar Association Flagship book titled ‘The Advisors’ and Trustees’ Guide to Managing Risk’’ its reported that 23-25% of those life Insurance policies are currently expiring years earlier than anticipated, as a result of reduced sustained interest rates and neglect on the part of the owners of these life policies, who over the last 20 years wasn’t aware that they should have increased the premiums over and above the premiums they were being billed by the Life Insurance company in order to maintain their existing life Insurance coverage.

We’ll discuss the role of the client’s advisors as well as the client, and their unskilled trustee, usually their eldest sibling, that wasn’t receiving any guidance as to what their fiduciary liability and responsibility entailed.

To that end it’s the intent of this portion of the program to go into further detail about the history of the non -guaranteed life Insurance policy known as Universal Life Insurance. To look at the outcome of the general publics ‘Buy & Hold’ mentality rather than the ‘Buy & Manage’ strategy it should have followed.

Lastly we’ll discuss the solutions as outlined in the above mentioned ABA Flagship book I co-authored that describes what can and should be done today to remedy this situation and maintain the existing life Insurance coverage originally allocated to the next generation.

Speaker Bio
2 General CLE Credits
Course Agenda

Attorney Henry MontagHenry Montag
Henry Montag CFP, in practice since 1976 in L.I N.Y has authored articles and acted as a source for NYSBA Senior Lawyer, NYSSCPA Tax Stringer, Tax Facts, Bloomberg’s Estates Gift & Trust Journal, Trusts & Estate Magazine, & The WSJ. He has appeared as a guest on Wall Street Week, Fox Business News & News 12. Provided CPE & CLE credits to NYSBA, ABA, AICPA, NYSSCPA, & EPC. He co-authored an American Bar Association Flagship publication; Jan 2017, ‘’The Advisors & Trustees Guide to Managing Risk & Avoiding a Client Crisis’’.

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Attorney Bill BoersmaBill Boersma
Bill has spent his entire career specializing in life insurance. He predominantly works with wealthy business owners and professionals regarding insurance for estate planning, business succession, and charitable strategies. Bill is generally introduced by estate planning and business attorneys, CPAs, trust officers, family offices, non-profit leaders and various financial planning professionals. Recognized nationally as an expert in life insurance, Bill utilizes his experience and expertise to be an effective ally for policyholders and their professional advisors.

Contact Bill Boersma

2 General Credits

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Course Agenda

  1. The Way it Was
  2. The Way it is
  3. Fiduciary Issues
  4. Regulatory Issues and Strategies
  5. Synopsis of Life Insurance Types
  6. Financial Benefits of Life Insurance
  7. Premium Financing
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