Attorneys & Life Settlements

Why Attorneys Need to Know About Life Settlements

“The attorney has an obligation to analyze the circumstances to determine if a life settlement is possible to gain the most for the client.”
– Pennsylvania Law Weekly, January 2004

A life settlement can bring a potential value to your senior clients if you are an attorney practicing in the estate or financial planning space.

For the most part, the majority of high net-worth policyholders rely on the counsel of their attorneys when rendering decisions regarding the purchase, conversion, or surrender of the insurance asset. A life settlement has emerged as yet another option, often proving to be more attractive than policy surrender.

The Life Settlement option may prove to be a worthwhile alternative to the traditional 1035 exchange. This is particularly true in trustee situations, where legal counsel often bears some degree of liability. The settlement can facilitate an escape from a policy with substantially more capital.

CONTACT VERIS SETTLEMENT PARTNERS

Veris Settlement Partners, Inc. is a multi-state viatical and life settlement broker. Veris Settlement Partners, Inc., and/or its affiliate firms Chesapeake Financial Settlements, LLC and Select Life Settlements Corporation, and/or one of its two directors as individuals, may be licensed as a life settlement broker or viatical settlement broker, or may be able to broker a life insurance policy owned by a resident of most states. For a list of states and licensing call Veris. Some or all of the proceeds from a life settlement may be taxable under federal or state income tax laws. Advice from a professional tax advisor is recommended. Veris Settlement Partners, inc. is not a viatical or life settlement provider. This Compliance Notice is current as of August 15, 2008 and is subject to change.