Trustees and Life Insurance

BY VINCENT E. WALSH

I read “ Don’t Invest for Clients—Plan for Them ” ( JofA, Jan.02, page 32), and I take exception to the impression created in the sidebar “ Changing Tax Laws ” (page 35).

The irrevocable trusts used by our clients give the trustee authority to purchase life insurance should he or she deem it prudent. The trust document does not obligate the trustee to purchase life insurance or to use its proceeds to pay estate taxes.

Vincent E. Walsh, CPA
Giunta, Ferlita & Walsh, PA
Tampa, Florida

SPONSORED REPORT

Cybersecurity threats proliferating for midsize and smaller businesses

This report details how SMBs can properly protect private information from breaches, design and implement a cybersecurity policy, and create safeguards for training and education.

QUIZ

News quiz: Senate health care bill in the spotlight

Reports related to the Republican bill to repeal many provisions of the PPACA, other tax issues, and the giant AICPA ENGAGE Conference offered a diverse reading list for June. See how much you know about recent news with this short quiz.