Join the Estate Planning Council of New York City for the first evening program of the 2014-2015 Membership year with Mary Ann Mancini.
PRIVATE PLACEMENT LIFE INSURANCE
The number of life insurance policies sold in the United States has dropped, in part due to the higher federal estate tax exemption and probably in part due to client investments that are more liquid than in the past. Private placement life insurance is an insurance product that is more individually tailored to the wealthy client’s objectives and thus, may be more attractive to such clients. However, private placement can also be complicated and has some tax issues that do not exist with more common insurance products, due to the ability to individually tailor the product for the client. In addition, even more complications arise when off-shore private placement is considered and contrasted to on-shore private placement. This program will examine some of the issues, benefits and drawbacks of private placement insurance and how it can fit within a client’s estate plan.
About Mary Ann Mancini
Mary Ann Mancini's practice focuses on advising high net worth families and individuals who reside in the United States and internationally. Her clients include leaders of Fortune 100 companies and their families, as well as families whose wealth is more privately held and, in many cases, based on real estate ownership.
Ms. Mancini counsels her clients on all matters that affect their estates, including the structuring and formation of entities, the creation of irrevocable “dynasty” trusts, tax planning for families and the entities they own, and the protection and preservation of their assets.
Ms. Mancini is also experienced in succession and estate planning for closely-held business owners. She is a nationally recognized expert in techniques that utilize life insurance in estate and business plans, such as insurance trusts, split dollar and deferred compensation arrangements, and life settlements. Ms. Mancini represents fiduciaries and beneficiaries in trust and estate matters before the Internal Revenue Service and in administration and litigation matters, and works with many private trust companies, family offices, and national and international bank trust departments.