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JH Advanced Markets Radio
Life Insurance & Prudence:
Duties of a Trustee Part 2
with Barry Flagg, CFP, CLU, ChFC and Patti Spencer, JD
Today we continue with last week's discussion on Life Insurance & Prudence with Barry Flagg and Patti Spencer.
Going from $4.7M to $8M to $2.5M life insurance coverage--- Is this prudent?
Barry, Patti and Randy discuss the Uniform Prudent Investor Act and its application in the first court ruling addressing a trustee's activities with regard to the insurance policies owned by the trust. The Cochran case illustrates that Trustee activities will define what a prudent process is--- a process that now clearly includes a duty to actively monitor, investigate and manage ALL trust assets, including life insurance.
Randy Zipse, JD, CPA and VP of The Advanced Markets Group discusses the topic with Barry D. Flagg, CFP, CLU, ChFC, founder of TheInsuranceAdvisor.com (TIA), and Patti S. Spencer, JD, a nationally recognized Trust & Estates attorney, expert witness, and author.
Click Here to Listen.
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