Financial Advisor Information
“The attorney has an obligation to analyze the circumstances to determine if a life settlement is possible to gain the most for the client.” - Pennsylvania Law Weekly, January 2004 

Why Attorneys need to know about Life Settlements

A life settlement can bring a potential value to your senior clients if you are an attorney practicing in the estate or financial planning space.

For the most part, the majority of high net-worth policyholders rely on the counsel of their attorneys when rendering decisions regarding the purchase, conversion, or surrender of the insurance asset. A life settlement has emerged as yet another option, often proving to be more attractive than policy surrender.

The Life Settlement option may prove to be a worthwhile alternative to the traditional 1035 exchange. This is particularly true in trustee situations, where legal counsel often bears some degree of liability. The settlement can facilitate an escape from a policy with substantially more capital.

 

 

 

 

 

 

 

 
 
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Veris Settlement Partners, Inc. is a multi-state viatical and life settlement broker. Veris Settlement Partners, Inc., and/or its affiliate firms Chesapeake Financial Settlements, LLC and Select Life Settlements Corporation, and/or one of its four directors as individuals, is licensed as a life settlement broker or viatical settlement broker in the following regulated states: AR, CT, FL, GA, HI, IN, LA, MD, MS, NC, NJ, NY, PA, TX, UT, VA.

Depending on the medical condition of the insured, Veris Settlement Partners, Inc. may or may not be able to broker a life insurance policy owned by a resident of the following states: CA, DE, IL, MA, MN, NM, OR, VT, WA, WI.

Veris Settlement Partners, Inc., and/or one of its four directors as individuals, may broker a life insurance policy owned by a resident of the following states that are not regulated and do not require licensure: AL, AZ, DC, ID, MI, MO, NH, RI, SC, SD, WY.

Some or all of the proceeds from a life settlement may be taxable under federal or state income tax laws.  Advice from a professional tax advisor is recommended. Veris Settlement Partners, inc. is not a viatical or life settlement provider.

This Compliance Notice is current as of August 15, 2008 and is subject to change.