Donald Sterling, the American business magnate and owner of the NBA's L.A. Clippers has recently been in the news alot. It hasn't been good news from his perspective. He was recently issued a life time ban from the NBA for racist comments he made while being recorded by his mistress.
Although this is not the question on everyone's mind I was wondering if Mr. Sterling should sell his life insurance policy in a life settlement transaction?
The answer I came up with is Maybe.
I am not aware of Donald's personal financial situation but I do know that a life settlement should be a component of his retirement and financial planning.
In fact, it should be part of everyone's financial plan.
Here are some key questions Mr. Sterling should ask his advisors while reviewing his over all financial plan:
1. What is a life settlement?
2. Do I need my life insurance?
3. Are there consequences to my financial situation if I am involved in a life settlement transaction?
4. What are the downsides?
5. What are my other options?
6. Is it suitable for me?
Are there questions that I missed?
Please write in and let me know.
No comments:
Post a Comment