Trustees and Life Insurance


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


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