As most practitioners know, estate planning isn’t a “one size fits all” endeavor. But, certain groups of clients share special concerns because of their particular circumstances. In this month’s issue, we explore the planning needs for two groups: professional athletes and individuals with Asperger Syndrome. In their article “Don’t Drop the Ball,” p. 20, K. Eli Akhavan and Jonathan I. Shenkman explain how planners can help professional athlete clients confront unique challenges in protecting and building their wealth. From basketball star Shaquille O’Neal to San Francisco 49ers Hall of Fame quarterback Steve Young, we learn what financial steps particular athletes have taken to preserve their assets and replace income. And, in “Planning for an Individual With Asperger Syndrome,” p. 14, Martin M. Shenkman, Neil D. Blicher, Anthony R. Bartlett and Dania Jekel provide an in-depth explanation of the symptoms of this disability, as well as the special planning needs these clients may have.
This month’s issue also includes our Committee Report on Insurance. Some of our authors touch on the topic of private placement life insurance (PPLI), but from different angles. For example, Al W. King III and Pierce McDowell III provide creative opportunities for using PPLI strategies in trusts (p. 42), while Michael B. Liebeskind, in his article about trends in the life insurance industry, acknowledges the growth of PPLI products (p. 35). And, Andrew S. Katzenberg discusses whether it’s better to use a grantor or non-grantor trust to hold a PPLI product (p. 31). In connection with their articles, Al and Michael will be presenting a Trusts & Estates webinar about PPLI on April 27 at 2 p.m. (Eastern Standard Time).
Also, special thanks to Louis S. Harrison for covering for Al by taking over writing our “Tips From the Pros” column this month and in June and August.
Finally, we thought we all could use a chuckle while preparing our tax returns, so we have a poem by Laura H. Peebles (p. 52) to cap off the issue.