The PPLI Solution (eBook)

KIRK LOURY is president and chief investment officer for Spencer Trask Asset Management, a wholly owned registered investment adviser of Spencer Trask & Co. Spencer Trask is a venture capital firm serving the private-equity needs of high-net-worth individuals and investment advisers. As chief investment officer, Loury directs the investment analysis of hedge funds and venture capital as asset classes, sets investment policy and practices, oversees portfolio administration, manages due diligence activities, and maintains the firm's external investment and distribution relationships. As a champion of private placement life insurance, Loury has taken on a broad industry role as an educator and portfolio adviser. He was an account executive at IBM and later joined New York Life. He received his BS from the University of Colorado, Boulder, and his MBA from the Harvard Graduate School of Business Administration.

Preface.

About the Contributors.

Part One: The Multipurpose Policy.

1 An Introduction to PPLI (John B. Lawson).

2 Risk Management: Redefining Safe Harbors (Jeremiah
Riddle).

3 Tax Management: Building Wealth, Reducing Taxes (Jeffrey S.
Bortnick).

4 Asset Protection: Riches Out of Reach (Gideon Rothschild
and Daniel S. Rubin).

5 Estate Planning: When Insurance Tames Taxes (Mike
Chong).

6 Trust Administration: The Domestic Advantage (Al W. King
III and Pierce H. McDowell III).

7 Executive Benefits: The Plan That Pays Its Way (Leslie N.
Brockhurst).

Part Two: A Vital Investment Vehicle.

8 Toward a More Powerful Portfolio (Kirk Loury).

9 Who's Afraid of Hedge Funds? (George Van and Daniel
T. Hayden).

10 In Search of Skilled Investment Managers (Ronald J.
Surz).

Part Three: Under the Hood--The Essentials on
PPLI.

11 Policy Structure: The Good, the Bad, the Ugly (Paul F.
Berlin).

12 Getting It Right: A Regulatory Overview (Maureen
Nelson).

13 Investment Due Diligence: Beyond the Questionnaire (Keven
de la Cruz).

14 Creating and Administering an Insurance-Dedicated Fund
(Brent Kinetz).

15 Underwriting the Policy (Mike Chong and Anne Melissa
Dowling).

16 Understanding and Comparing Costs (Susan Bruno).

17 Jurisdiction: Home or Away? (Peter M. Williams).

Part Four: Setting Up Shop.

18 Making a Place in Private Banking (Richard
Brindisi).

19 The Family Office: A Perfect Fit (Kirk Loury and Mark
Watson).

Continuing Education Exam.

Index.

"A timely and well-written volume, especially for the 'hedge
fund age' that now dominates the current investment climate. It
is difficult if not impossible to take advantage of these new
opportunities without proper guidance, and Van's and Hayden's
chapter about incorporating hedge funds into private placement life
insurance is a primer for those attracted to the subject. The
due-diligence guide contains practical insights and a 'what to
watch for' section that can serve to avoid costly mistakes."

--Michael G. Tannenbaum, Esq.

Partner, Tannenbaum Helpern Syracuse & Hirschtritt
LLP

President, Hedge Fund Association

"Well conceived, well researched and well written. If you
want to understand the benefits and risks of private placement life
insurance, this is the place to start."

--Glenn S. Daily, CFP, CLU, ChFC

Fee-only insurance consultant, New York, NY

"A unique and comprehensive guide to a complex
subject."

--Preston Tsao

Chairman, Metropolitan Circle of Private Investment, New
York

"The PPLI Solution is a comprehensive multidisciplinary
look at the emerging world of private placement life insurance. It
is a must-read for anyone considering or advising on the purchase
of one of these policies. Understanding private placement life
insurance as a wealth management tool requires legal,
investment, and insurance industry knowledge, and this book
provides it all in a concise manner."

--Steven M. Loeb, JD, LLM

Partner, Cleary Gottlieb Steen & Hamilton

"This book does an excellent job of demystifying PPLI.
True professionals are attempting full disclosure and transparency
in an area that begs for it. For families and their advisers who
need to fully understand PPLI, this book is a winner."

--Thomas R. Livergood

CEO, The Family Wealth Alliance