With over 18 million life insurance policies lapsed or surrendered in 2023, and hundreds of thousands potentially eligible to be treated as valuable assets, bankruptcy trustees have a significant opportunity to enhance outcomes for estates and creditors. This session explores the critical role of life insurance policies in bankruptcy cases, emphasizing the process of valuing and monetizing these assets. It also addresses the importance of maintaining anonymity and ensuring maximum value through competitive marketplaces and non-traditional valuation practices. Attendees will gain actionable insights into identifying, protecting, and leveraging life insurance policies as a pivotal asset in bankruptcy proceedings.
1) Identify Opportunities: Understand how to recognize life insurance policies as potential assets during the bankruptcy process, including the types of policies most suitable for valuation or sale.
2) Understand the Process: Gain knowledge of the step-by-step process to evaluate, protect, and monetize life insurance policies, from assessing the policy's value to executing a sale.
3) Prioritize Anonymity: Learn best practices for maintaining the anonymity of policyholders and insureds to safeguard personal information and ensure compliance with ethical and legal standards.
4) Maximize Value: Explore how competitive bidding platforms and life settlement marketplaces can yield the highest possible value for creditors while navigating potential challenges.
5) Promote Awareness: Discuss strategies for educating policyholders and stakeholders about life insurance as an asset class, preventing policies from being overlooked or prematurely lapsed.
Business
Suggested Speakers
Stephen
Jass
stephen@LSHub.net
Stephen
Jass
stephen@LSHub.net
Life Settlement Hub
This session will introduce participants to the very hiogh likelihood that digital assets could be a part of a bankruptcy estate given the rapid growth in the use of digital assets to transact business and in the number of people in the United States that own digital assets. Participants will be made aware of the resources, tools, and professional services available to locate, track, quantify, value and recover digital assets for the bankruptcy estate.
1. Participants will gain a working understanding of blockchain technology, cryptocurrencies and other digital assets and their rapid adoption by individuals and businesses.
2. Participants will learn to identify signs that a party may possess digital assets and will be familiar with the resources available to aid in discovering and identifying digital asset ownership.
3. Participants will learn about the techniques and tools available to trace and recover digital asset transactions.
4. Participants will learn the basic issues and challenges in valuing digital assets.
Creditor
Many lawyers viewed chapter 11, which came into effect in 1979, as unsuccessful in the 1980s. Large firms had been mired in bankruptcy for years — three years, on average. The process was seen as expensive, inaccurate and subject to abuse. While bankruptcy today still has problems with considerable conflict, and few would say it works perfectly, the overall contrast with bankruptcy today is stark: Bankruptcies that took years in the 1980s take months in the 2020s.
