CPA & Estate Attorney Endorse Life Settlement

Estate Advisors Endorse Life Settlement

Newsletter

Sign up for our free monthly advisory newsletter.

CPA & Estate Attorney Endorse Selling Their Client's $1 Million ILIT Policy

77 Year-old Retired Physician Thought His Policy Was "Worthless"

  • $1 million ILIT policy became irrelevant for client's estate plan

  • Premiums had increased to nearly 4% per year

  • Troubled policy was underperforming; cash depleted to $1,000

  • $37,000 annual premium was coming due

  • Ira Stitz Associates recommended life settlement

  • Attorney & CPA agreed selling policy the best option

  • Client was delighted to receive $180,000 cash settlement

At the outset of this transaction, Ira Stitz Associates met with the key members of the client's estate planning team (Attorney & CPA) to lay out the options for a troubled policy:

  1. Make the annual premium of $37,000 and keep the policy in force.
  2. Allow the policy to lapse.
  3. Sell the policy in the secondary market and use the settlement proceeds to bolster the cash assets in the client's estate.

Both the attorney and CPA fully supported the life settlement option. Ira Stitz Associates was asked to broker the transaction in the secondary market for the highest possible offer.

The retired phyusician was thrilled with the outcome and stunned that a policy he thought to be "worthless" could have so much monetary value.

If you are an CPA, tax advisor or estate planner and would like to learn more about how life settlements can help address a variety of complex planning challenges for your clients, please contact us. We'd be happy to provide a quick policy analysis.

Would you like to learn more?

We’re here to help answer your questions. We take great pride in using our expertise for you and look forward to hearing from you.

Let's Talk
Let's Talk
Ira Stitz, LUTCF

Ira Stitz, Principal

Ira Stitz Associates is a boutique financial services firm that concentrates in estate planning and wealth preservation for high net worth individuals and their families regarding their distinctive needs. Ira Stitz founded the company in 1990 and still retains the same passion and enthusiasm as he did on the first day he put the keys in the door.