TRUSTEES |
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Trustees have a fiduciary responsibility to make prudent decisions on behalf of the trust beneficiaries. Life insurance often plays a significant role in terms of providing much need liquidity to pay estate taxes and other expenses. Unfortunately, many policies sit in a trust with no periodic review. This poses a huge problem for trustees as they are opening themselves up to unnecessary liability.
Life settlements must be considered by the trustee anytime a policy is going to be replaced or surrendered (presuming the insured and policy qualify for a settlement). Failure to do so exposes him or her to potential lawsuits for failure to act prudently and in the best interest of the beneficiaries.
Provada can assist Trustees by obtaining competitive offers from numerous funding sources. Our services can help ensure that the trustee is acting responsibly and fulfilling their fiduciary duty as it relates to the management of life insurance policies.
Contact us to learn more about Provada's solutions for trustees. |
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