Private Placement Life Insurance: Avoiding Income and Transfer Tax for High Net Worth Taxpayers
Meeting IRS Ownership, Diversification, and Insurance Guidelines
Note: CLE credit is not offered on this program
Recording of a 110-minute CPE webinar with Q&A
This webinar will explain private placement life insurance (PPLI), including structuring considerations, asset selection, and meeting IRS requirements for tax practitioners working with high net worth taxpayers.
Outline
- PPLI: background
- Benefits
- Income tax
- Transfer tax
- Other
- Caveats
- Structuring considerations
- Asset selection
- Best practices
Benefits
The panel will cover these and other critical issues:
- What restrictions are placed on an investor's interactions with the PPLI?
- Meeting the diversification of asset requirements
- Establishing and funding an IDF
- How does the owner withdraw funds tax-free?
- What steps can be taken to minimize the risk of disqualification?
Faculty
Kenneth Foley
Managing Director, Wealth Management and Strategic Partnerships
Spearhead Capital
Mr. Foley brings 20+ years of financial services and insurance industry experience. Prior to joining Spearhead, he... | Read More
Mr. Foley brings 20+ years of financial services and insurance industry experience. Prior to joining Spearhead, he served as the Senior Vice President of Agency Distribution at Lombard International. Mr. Foley oversaw all agent distribution in the U.S., and personally managed the Alpha Alliance, which is the exclusive membership program at Lombard reserved for professionals and firms with a proven tradition of service to the high-net-worth client community.
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William D. Lipkind
Partner
Wilson Elser
Mr. Lipkind, Chair of the firm’s Tax Planning and Controversies Practice, concentrates his practice in the areas... | Read More
Mr. Lipkind, Chair of the firm’s Tax Planning and 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. Mr. Lipkind 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.
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David A. Warren, JD
Co-Founder and Chairman of the Board
Bridgeford Trust Company
Mr. Warren is an attorney with over 20 years of professional experience practicing law and working in the financial... | Read More
Mr. Warren is an attorney with over 20 years of professional experience practicing law and working in the financial services industry serving the trust and wealth management needs of high and ultra-high net worth families across the nation and around the world. Prior to establishing Bridgeford Trust Company, he was recruited out of a large and prestigious Mid-Atlantic law firm to join the Wealth Management/Trust Department of a regional bank as a Vice President/Senior Trust Administrator. Mr. Warren subsequently transitioned his career to Bank of New York Mellon where he worked exclusively and extensively with high and ultra high net worth families on various wealth management issues including asset protection and legacy planning.
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