Join ITM TwentyFirst for a Week-Long Education Course on Unique and Hard to Value Assets

We at ITM TwentyFirst have always been very proactive about continuing education. Just like many other industries, the unique and hard to value asset industry is always changing and filled with complexity. Our team members, and the company as a whole, participate in several continuing education efforts every year. This July, we will be taking part in a week-long course focused on administering Hard to [...]

Another Good Year at Heckerling

The first thing you notice after entering the Orlando World Center Marriott Resort and Convention Center is the lineup of vendor booths set up in the hallway – the overflow from the cavernous convention center hall.  This year’s Heckerling Institute on Estate Planning appears to have been a great success.  The number of attorneys attending was up, and those putting on the session attracted more [...]

Join ITM TwentyFirst at the 53rd Annual Heckerling Institute of Estate Planning

We have three office locations across the United States, and as I write this, none will see 40 degrees as their high-temperature today, so it is no wonder we are looking forward to heading south to the sunshine of Orlando, Florida, for this year's Heckerling Institute of Estate Planning session from January 14-18.  However, it is much more than that. It has been about 15 [...]

ITM TwentyFirst Publishes Free Trust Owned Life Insurance (TOLI) Handbook

As a decade plus provider of services to the TOLI marketplace, ITM TwentyFirst has developed a reputation as the expert in the trust owned life insurance arena. A pioneer in the field with the introduction of a web based administration portal for TOLI trusts in 2002, ITM TwentyFirst became the first company to offer total outsourced TOLI administration and policy management in 2007. In 2017 [...]

How About Just Doing the Right Thing?

During an ITM TwentyFirst University webinar on trustee liability, I described a replacement case that came into our remediation department. A grantor with a whole life contract in his trust had decided to stop gifting. His agent advised him to complete a 1035 exchange of the cash value from the existing policy into a new current assumption policy. The exchange, with no other premium, would [...]

The Biggest Story in Trust Owned Life Insurance (TOLI) in 2016? Trustees Running Away From Their Portfolios-How Can They?

In blogs published throughout 2016, we highlighted the increased challenges for TOLI trustees attempting to manage life insurance policies prudently. Life insurance cost increases more than doubled the carrying costs of many policies, while there were increased fiduciary and regulatory burdens and a multimillion dollar verdict against a major financial institution over a life insurance policy. All this occurred in 2016 and underlined the difficulties [...]

2016-12-08T17:09:18-06:00December 8th, 2016|Event, General Interest, Policy Management|0 Comments

Recent Court Case Identifies An Obvious Tax Liability: One TOLI Trustees Sometimes Miss

A recent US Tax Court Memo identifies the financial risk in unwittingly or intentionally mismanaging a life insurance policy. In 1987, a policy owner purchased a single premium variable life policy (since this was pre Code Section 7702A, it was not considered a modified endowment contract) with a payment of $87,500. The policy contract permitted the owner to take loans from the policy, allowing any [...]

ITM TwentyFirst Taking Part in Week Long Education Course on Unique and Hard to Value Assets

ITM TwentyFirst will be participating in a week long course focused on administering Hard to Value Assets, to be held at the University of Notre Dame this Summer. Kelly Anders, Trust Administrator and Michael Brohawn CFP, CLU, Managing Director, will head up a day-long session focused on Trust Owned Life Insurance (TOLI) trusts and policy management. The course, sponsored by Cannon Financial Institute, the nation’s [...]

2016-06-16T16:10:35-05:00June 16th, 2016|Event, General Interest, News, Policy Management|0 Comments