Due Diligence of Trust-Owned Life Insurance - John Resnick

Due Diligence of Trust-Owned Life Insurance John Resnick ISBN 9781634259774

When properly acquired and actively managed, life insurance is one of the most effective long-term tools for ensuring financial liquidity at death. Due Diligence of Trust-Owned Life Insurance is a timely and practical resource for attorneys who must guide clients through the often complex and confusing landscape of modern life insurance products.

The need for this guidance has never been greater. In recent years, numerous class action lawsuits have been filed against life insurance companies by policyholders dissatisfied with underperforming policies. Many purchasers relied on projected values presented in sales illustrations, only to discover that actual performance fell far short of expectations. As a result, estate planning attorneys are frequently asked to attend meetings with insurance agents and assist clients in evaluating policy options. To do so effectively, counsel must be able to interpret, compare, and clearly explain the technical language and contractual differences found in life insurance policies.

Due Diligence of Trust-Owned Life Insurance demystifies policy provisions by presenting them in clear, accessible terms, making critical decision-making criteria understandable for practitioners. At the same time, the book provides a rigorous analysis of key insurance contract provisions, enabling attorneys to recognize how subtle differences in policy language can materially affect their clients’ interests.

Topics covered include:

• The Uniform Prudent Investor Act

• Policy options and riders

• Inherent risks in life insurance products

• Selecting appropriate policy types

• Interpreting non-guaranteed universal life illustrations

• Premium financing strategies

• Trustee responsibilities and acceptance, and more

To support comprehension of these complex issues, the authors incorporate charts, graphs, sample forms, and schedules. The book also includes a helpful glossary and an overview of the rating systems used by the five major insurance rating agencies.

Whether you are a newly appointed trustee or a seasoned fiduciary, this concise yet comprehensive guide offers invaluable insight. Developed in collaboration with insurance agents, actuaries, attorneys, and other experts, Due Diligence of Trust-Owned Life Insurance is written with the personal trustee firmly in mind and serves as an essential reference for informed, prudent decision-making.

Due Diligence of Trust-Owned Life Insurance John Resnick ISBN 9781634259774, 978-1634259774 & 9781634259781

Authors
John Resnick
Billie Dietz Resnick
Lawrence Brody
Richard M Weber