for your trustee/executor

Your Life Insurance Assets Could Be at Risk…And Your Trustee Could Be Liable

Many clients make the mistake of thinking, “I don’t have to worry about my coverage because my trustee/executor/CFO/financially astute relative does that for me.” Trustees and other designees have been sued for improperly administering valuable life insurance policies – a big surprise for those who didn’t realize they could be personally liable. Further, clients have lost or owed millions – an ironic result when they believed those policies would put millions in their pockets.

How does this happen? First, your trusted team member may be fulfilling all the legal requirements that your current policies demand. However, he or she may not periodically review whether your coverage is the best it can possibly be.

Second, these important members of your team could be unaware of the many pitfalls and legal requirements of their duties regarding your life insurance policies. State and federal laws are complicated and changeable. Your policies are complex financial instruments. Your trustee has many priorities to juggle. Your CFO relies on the insurance agent to present an accurate picture – and that picture may not be correct. These are all reasons why your life insurance policies may be at risk.

Providing Life Insurance Expertise to Your Trustee

We’re experienced at interfacing with these members of your team to ensure that your life insurance is the best it can possibly be for your needs now and in the future. We structured this part of the website to help you involve your designees and get the audit process started:

Would you like to learn more about the designees’ fiduciary duties?

Would you like to notify your designee that you’re considering a policy audit?

Would you like to notify your designee what his or her role in the policy audit will be? (please hyperlink these three items)

Make sure your life insurance trust policies are true assets.

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