The Role of Life Insurance in Succession Planning for Lawyers

In this episode, David F. Keefe III, CLU, ChFC (linkedin.com/in/davidfkeefe) of 4-Point Financial (www.4-pointfinancial.com) addresses the role of life insurance in succession planning for lawyers. As a life insurance advisor who specializes in understanding the value of Human Capital, David addresses the importance of life insurance for: (i) Law firm partners as business owners; (ii) Senior Attorneys who join Growing Law Firms per a term of years earnout; and (iii) Senior Attorneys who do not yet have a successor and for whom life insurance can serve as a phantom buyer. As Poock points out, attorneys who have not fulfilled a succession plan yet should especially consider including life insurance as part of their business planning strategy.