Minimizing TOLI Trustee Liability in a Challenging Environment

Minimizing TOLI Trustee Liability in a Challenging Environment

A decade-plus of historically low interest rates and a financial crisis unlike any we have seen before have negatively impacted the life insurance industry. Attendees of the May 27, 2020 webinar on Minimizing TOLI trustee liability in a changing market were able to: 

  • Learn which policies will be most affected and how to manage them effectively going forward.
  • Discover one thing every trustee should always do to limit risk, key to minimizing TOLI trustee liability.
  • Understand how low interest rates stress policies, and what you should do about it right now.
  • Be able to put into place simple processes that will minimize your liability – now and in the future.
  • Receive a TOLI Trustee Guide for future reference.

While this session was designed for TOLI Trustees, it was also time well spent for any Attorney, CPA, or Wealth Advisor that has life insurance clientele.

As per the webinar, it is estimated that $68 trillion in wealth will be transferred over the next 30 years. This is largely due to unprecedented challenges with the Coronavirus pandemic. The role of the trustee has thus become all the more critical, as well as risky, for all forms of wealth transfer.

Because litigation is increasing in frequency and severity, constituents have many concerns regarding risk management. Not only do these involve increased wealth transfer, they also concern issues such as wealth held in alternative assets.  They also concern new trust structures and asset protection laws.

If a trustee does not understand their correct roles and responsibilities around risk management, they will not be able to implement effective risk management programs. It is extremely important to outline clear guidelines around not only rules such as distribution and administration, but duties around confidentiality and impartiality with beneficiaries. 

Watch the recording of this webinar from May 27th, 2020 to learn more about minimizing your trust administration risk.

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