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LIFE SETTLEMENTS CONSIDERED SIGNIFICANT COMPONENT TO OPTIMIZING TRUST-OWNED LIFE INSURANCE POLICIES
Rumson Capital Gives Trustees Insight on Handling Life Settlement Options

Jenkintown, Pa. (November 15, 2005) - According to a 2003 survey by Trusts & Estates of 297 bankers, attorneys and accountants who are professional trustees, 83.5 percent of them have no guidelines and procedures for handling trust-owned life insurance. The same survey also revealed an astonishing 95.3 percent of these trustees do not have policy statements on how to handle life insurance investments.

“In order to comply with the standards of fiduciary responsibility, a trustee must investigate any and all information that would affect the value of a trust’s asset in a prudent manner,” said David A. Jacobs, J.D., partner, The Westhem Grant Group. “When managing a trust that owns a policy insuring the life of a senior, the trustee has a fiduciary duty to look at a life settlement as a viable option for the disposition of that policy.”

Rumson Capital, an independent life settlement company that offers unique services to those seeking to maximize their financial assets, provides insight on fiduciary responsibility and grants expert counsel on the life settlement industry. With the large number of trustees lacking an awareness regarding trust-owned life insurance policies and the option of life settlement, Rumson Capital’s understanding of the standards, laws and provisions concerning life insurance policies will ensure the asset is protected in the most responsible and efficient way.

Failure to handle a trust-owned insurance policy properly can have a major impact on the death benefit paid to beneficiaries. Trustees must be aware of the current standards for a trust-owned life insurance policy and the options available. Rumson Capital is available to advise brokers on the following fiduciary standards:

The Uniform Prudent Investors Act (UPIA) – The UPIA regulates trustees of private trusts, foundations and endowments.
Employee Retirement Income and Securities Act (ERISA) – The ERISA monitors trustees of qualified retirement plans.
Uniform Management of Public Employees Retirement Systems Act (UMPERA) – The UMPERA defines the standard for public retirement plans.

 “Life settlement is an industry on the verge, and trustees must make exploring life settlements an automatic consideration,” said Robert Meyer, vice president and general counsel of Rumson Capital. “As life settlements become more engrained and more popular, trustees will recognize the option, but now is the time they need to utilize the resources available to best serve the trust.”

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Rumson Capital LP
Founded in 2004, Rumson Capital LP is an independent life settlement company headquartered in Jenkintown, Pa. , that offers unique services to those seeking to maximize their financial assets. Through life settlements, Rumson Capital unlocks underperforming assets to help make its customers’ wealth work better and harder and, ultimately, optimizing their quality of life. Rumson Capital’s code of behavior and sophisticated actuarial tool, OptimumLife SM, help customers achieve fast quotes and maximum financial value from a life settlement. The Rumson Capital professionals have been in the life settlement business from the inception of the industry and pride themselves on making lasting relationships with their partners. For more information on Rumson Capital LP, please call 215.886.8433 or visit the Web site at www.rumsoncap.com.