Susan J. Bruno, CPA/PFS has helped many clients determine whether a life settlement is appropriate for them. Please read the attached articles for more information and click on the questionnaire if you would like to work with Beacon Wealth on your own policy review!
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Now more than ever families are reviewing their cash flow and in many cases find they have options regarding their life insurance that they were unaware of. These options range from purchasing new coverage at more competitive rates, taking time off from paying premiums, to actually selling their life insurance policy for much needed cash during this financial crisis. In order to assess the appropriate course of action, clients are turning to insurance specialists who can provide unbiased answers. CPA/PFS who specialize in life insurance can not only help answer the product specific questions but can also help the family understand the income, gift and estate consequences of their options since a decision should never be made without consideration to the context of the overall financial plan. Turn to Susan Bruno for help!
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"The AICPA is synonymous with integrity, honesty and keeping the bar held high. We have a self-regulatory organization that's unique and so important."
Susan Bruno
AICPA member since 1988
Partner
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| "Life Settlement: A Smart Option That Every Senior Should Consider" AICPA Planner, April 2009 |
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| "What Every CPA Should Know About LIfe Settlements" Journal of Accountancy, June 2008 |
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Featured in the June 2008 issue of Journal of Accountancy,"What Every CPA Should Know About Life Settlements", Susan J. Bruno explains the life settlement process, criteria for clients to qualify, and the top 10 things you should consider when selecting a life settlement company.
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Due to the relatively short period of time the life settlement market has existed, the market is currently loosely regulated and the number of bidders for any marketed policy may be limited. The amount received for the sale of the Policy may be more or less than what others might receive for the sale of a similar policy. Prior to selling a policy, the insured should consider factors such as the continued need for insurance coverage, whether there are plans to replace the existing policy with another policy, how the sale of the policy will impact estate plans, and the availability of new insurance as well as the cost of comparable coverage. Where relevant, tax implications must also be taken into consideration. The proceeds from a life settlement transaction may be subject to claims of creditors. The receipt of proceeds from a life settlement transaction may adversely impact eligibility for government benefits and entitlements. There may be high fees associated with the sale of a life settlement.
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