LEP works with – CPA’s

The growing estate planning marketplace is a new frontier for CPAs who serve both affluent seniors as well as corporate clients.  In addition, many CPAs serve as advisors to charitable organizations that accept donated life insurance policies. Thus, it is important that CPAs have an understanding of the product and its applications in each of these situations.

High Value Life Insurance for High Net-Worth Seniors
As financial gatekeepers who are often faced with wealth management issues for high net worth seniors, CPAs are in a position to recommend the financial empowerment provided by premium-financed life insurance policies.

It is important that CPAs understand the value that a premium-financed life insurance policy can provide in terms of assisting their senior clients with estate planning decisions that enhance the senior’s financial portfolio.

A premium-financed life insurance policy can provide the solution to other financial planning objectives.

Examples include:

• Leaving current liquidity for other investments
• Facilitating charitable giving
• Enabling cash gifts to family members

Protecting business interests of key-persons after death

Business Applications:
Some experts would suggest that as the economy improves, the pace for mergers and acquisitions will increase. In the case of a buyer considering the purchase of another company, part of the due diligence process should involve an evaluation of “key man” life insurance policies on departing executives.  It is often the case that such “key man” policies are permitted to lapse because the M&A attorneys or CPAs were not aware of their existence.