Attention:

Private Placement Life Insurance: What is it? Who does it benefit? How can advisors plan with it domestically?


Level: Advanced
Runtime: 100 minutes
Recorded Date: March 21, 2017
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Agenda

  • Overview of Private Placement Life Insurance
  • Structuring Methods
  • Main Benefits
  • PPLI versus “Retail” Life Insurance
Runtime: 1 hour and 40 minutes
Recorded: March 21, 2017

Description

In this program, the panelist will discuss the factors that influence whether a Private Placement Life Insurance (PPLI) policy should be acquired from a domestic life insurance company and will go over various examples of domestic PPLI ownership structures and techniques for incorporating PPLI into clients' existing estate planning and investment structures.

This program was recorded on March 21st, 2017.

Provided By

American Bar Association

Panelists

Sarah Simon

Associate Advisor
Coastal Bridge Advisors

Sarah Simon, an Investment Advisor Representative, is acting Associate Advisor for Coastal Bridge Advisors (formally known as LLBH Private Wealth Management) where she is responsible for assisting with the firms Portfolio Planning efforts specifically in regards to Trust and Estate issues.

Prior to Coastal Bridge Advisors, Sarah worked for companies such as Suntrust Robinson Humphrey and Bohmart & Sacks performing financial and legal research and joined Coastal Bridge Advisors in September of 2012.

Sarah received a J.D. from the University of North Carolina School of Law and earned a B.A. in Economics with a minor in Asian Studies graduating in the top 5% of her class from the University of North Carolina.

Bill Loftus

Founding Partner
Coastal Bridge Avisors

Bill is one of four founding partners of Coastal Bridge Advisors (formally known as LLBH Private Wealth Management). Bill leads the Corporate Executive Services, Lending and Alternative Investment operations of the firm. Bill is also responsible for overseeing new business development and the management of the firms west coast operation.

With a career spanning almost 30 years, Bill began his career at Merrill Lynch in 1986. He then spent 10 years as a Senior Vice president at Smith Barney before returning to Merrill Lynch in 1998 as part of their Private Banking and Investment Group, the firm’s prestigious division serving high net worth individuals, families and businesses. In 2008, Bill and his partners left Merrill Lynch to form Coastal Bridge Advisors, an independent Registered Investment Advisory Firm, to better serve their clients according to a fiduciary standard.

Bill has been named a 2015 Five Star Wealth Manager* and a Leading Wealth Advisor by Worth Magazine. Bill regularly contributes editorial to Worth Magazine, providing insight and education of the wealth management industry. Bill has been featured on Fox Business Channel, the Dow Jones Advisor Show and is frequently cited in local and national press. Bill has recently been appointed as the Head of the Advisory Counsel for Save the Children’s Board of Directors. Bill remains active with other charitable organizations as well, including St. Vincent Medical Centers SWIM Across the Sound fundraiser where he acts as the standing emcee of the annual event.

Bill received his Bachelor’s degree in Political Science from Randolph Macon College in Ashland, Virginia.

William D. Lipkind

Partner
WIlson Elser Moskowitz Edelman & Dicker LLP

William Lipkind, chair of Wilson Elser’s Tax Planning & Controversies practice, concentrates his practice in the areas of wealth preservation, asset protection, and state and federal income taxation. He is experienced in the laws, regulations and nuances surrounding gift and estate taxation and tax controversies, and he counsels closely held businesses and their owners on optimal tax structures, internal governance, and mergers and acquisitions. Bill is valued for his sensitivity to estate planning issues, counseling corporate entities as well as high-net-worth individuals on asset protection, wealth preservation, asset protection and intergenerational issues. Bill served as law secretary to Justice Nathan Jacobs, Supreme Court of New Jersey.

Michael B. Liebeskind

Principal
Winged Keel Group

Michael co-founded Winged Keel Group in 1989. He has been a leader and key technical resource as the firm has developed its market presence and strengthened its internal infrastructure over the years.

Michael is a Registered Investment Advisor (RIA) and a member of the New York State Society of CPAs, the Estate Planning Council of New York City, the Association for Advanced Life Underwriting (AALU), the Society of Trust and Estate Practitioners (STEP), and the Yale Insurance Study Group.

Michael graduated from Princeton University in 1981. He began his professional career with the accounting firm of Coopers & Lybrand, where he became a Certified Public Accountant (CPA) in 1984. Michael earned his Master of Business Administration (MBA) degree from New York University in 1986. 

Jonathan Gopman

Partner
Akerman LLP

Jonathan Gopman is a partner in Akerman's Naples office and also spends substantial time in the Fort Lauderdale office. Jonathan's practice focuses on sophisticated wealth accumulation and preservation planning strategies for entrepreneurs. He assists entrepreneurs with their personal and business planning needs at all phases of the wealth accumulation and preservation cycle. In his practice Jonathan takes a four part approach to wealth preservation planning by assisting individuals in implementing sophisticated estate planning, tax deferral, tax-favored investment and asset protection structures. Jonathan's personal practice emphasizes international wealth preservation planning. Jonathan has substantial experience in assisting high net worth families with international and domestic estate planning, implementing foreign trust structures, business planning and general tax planning.

Jonathan is an adjunct professor in taxation at Ave Maria Law School in Naples, Florida. Jonathan is a commentator on asset protection planning matters for Leimberg Information Services, Inc. ("LISI"), a member of the legal advisory board of Commonwealth Trust Company in Wilmington, Delaware, and a member of the Society of Trust and Estate Practitioners ("STEP"). He is AV rated by Martindale Hubbell. Jonathan is a member of the Board of Trustees of the Lee Memorial Health System Foundation. Jonathan is also a member of the University of Miami Citizens Board having previously served on its executive committee and is a past chairman of the Naples Chapter of the Citizens Board. Jonathan serves on the professional advisory committee of The Humane Society of Naples and on the Collier Advisory Council for the Children's Hospital of Southwest Florida. Jonathan is also on the Naples Advisory Board of the Cystic Fibrosis Foundation - Tampa Chapter. Jonathan is the co-author of the revised version of the BNA Tax Management Portfolio on Estate Tax Payments and Liabilities. Jonathan has been interviewed for, and quoted in, numerous articles in well known publications such as the New York Times, Bloomberg Magazine, Forbes Magazine, Wealth Manager Magazine, and the Elite Traveler. Jonathan has been selected for inclusion in The Best Lawyers in America? from 2009-2017 in the specialty of trusts and estates, he has been selected as a Florida Super Lawyer annually since 2010, and he was included in the Florida Trend Legal Elite for 2010, 2011, and 2014. In the December 2005 and 2007 issues of Worth Magazine, Jonathan was recognized as one of the top one hundred estate planning attorneys in the country. Jonathan is considered one of the leading experts in the world on asset protection planning.

Jonathan also serves on the professional advisory boards of TitleAuction LLC, a Florida limited liability company, Peninsula Lifestyle Capital, PLLC, a Florida limited liability company, and Insightion, LLC, a South Carolina limited liability company, all privately held companies in various lines of business.

Jonathan is the originator of the idea for the statutory tenancy by the entireties trust (commonly referred to as a "STET," a termed he coined) that is set forth in ? 3574(f) of Title 12 of Chapter 35 of the Delaware Statutes. This statute was enacted into law in Delaware in July of 2010 and became effective on August 1, 2010. Jonathan's articles, commentaries and presentations have also served as the impetus for changes to the trust laws of several states. In 2011 and 2012, Jonathan assisted the government of Nevis in revising its trust laws (including the Nevis Rule Against Perpetuities) set forth in the Nevis International Exempt Trust Ordinance by rewriting almost the entire Ordinance. He was the only attorney in the United States selected by the government of Nevis to work and consult on this project.


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