FSP VTC: Uniform Prudent Investor Act & Trust-Owned Life Ins.
Thursday, November 15, 2012 from 9:00 AM to 11:10 AM (CST)
The Uniform Prudent Investor Act & Trust-Owned Life Insurance: The Impossible Dream or a Match Made in Heaven
2 Hour Video Training Conference Program
Brought to you by the Milwaukee Chapter – Society of Financial Service Professionals
The Uniform Prudent Investor Act (UPIA) imposes a duty on all trustees/fiduciaries to manage, monitor, and evaluate assets and investments under their care for the benefit of the beneficiaries of the trust, a duty which also applies to Trust-Owned Life Insurance (TOLI). Despite numerous professional articles pointing out the applicability of UPIA to Trust-Owned Life Insurance (TOLI), the vast majority of trustees/fiduciaries have not applied these statutes uniformly with respect to TOLI. This program, which references the Stuart Cochran Irrevocable Trust v. KeyBank, N.A. case, examines the risk management of life insurance. It identifies the techniques and resources available to trustees to evaluate permanent life insurance policies and reviews UPIA and its applicability to TOLI. The program also examines the nature and explains the pricing elements of life insurance and the most common types of permanent life insurance policies, their reliability and usefulness, and the problems associated with "comparing apples to oranges." Attendees will look at the process of creating benchmarks for permanent life insurance policies, review various evaluation methods available to comply with UPIA, the pros and cons of each, and whether or not these systems meet the "dispute defensible" test for the fiduciary and avoid allegations of predatory practices.
Attendees will learn:
- What the UPIA is and how it applies to Trust-Owned Life Insurance
- How the Cochran v. KeyBank case affects trustees and fiduciaries in the management of life insurance
- The red flags and predatory practices trustees/fiduciaries need to avoid in managing life insurance policies
- Life Insurance Policy Management Statements
The distinguished panel includes: Gary L. Flotron, MBA, CLU, ChFC, AEP (Moderator); Lawrence Brody, JD, LLM, AEP (Distinguished); Richard A. Schwartz, FSA, MAAA, CLU; Richard M. Weber, MBA, CLU, AEP (Distinguished); E. Randolph Whitelaw, Managing Director of Trust Asset Consultants, LLC.
2 credits in Insurance (CIE), Legal (CLE), Accounting (CPE), CFP, PACE and Banking (ICB) have been applied for.
NOTE: No refunds 2 days prior to the program date; requests for refunds prior to that date will be subject to a $10.00 processing fee.
CE credit will not be processed until payment is received.
When & Where
Society of Financial Service Professionals - Milwaukee Chapter
For more than 80 years, the Society of Financial Service Professionals has been helping individuals, families, and businesses achieve financial security.
With their strong commitment to delivering only those financial products and planning services that are in their clients' best interests, the Society's approximately 15,000 members nationwide are uniquely qualified to assist the public in reaching their future financial goals—today, tomorrow, and into the next millennium.
Society members can provide consumers expert assistance with: estate, retirement and financial planning; employee benefits; business and compensation planning; and life, health, disability, and long-term care insurance.
Society members have earned recognized professional credentials in the financial services industry, or are working towards attaining a professional credential.
If you are looking for a professional adviser who has experience, knowledge, and a strong commitment to ethical business practices, look for a member of the Society of Financial Service Professionals.