‘Home Is Where The Heart Is’

PPLI Brings You Home

Wealthy international families can create a tax compliant and enhanced privacy Home for their assets using Private Placement Life Insurance (PPLI). The concept of Home is a powerful one for all of us.

At this point in the digital age, you could consider a smartphone to be a type of Home for information. A smart phone can organize and personalize different elements of our lives to bring them to a place that gives us a sense of security much like a physical Home does.

We all like to arrange our contacts, notifications, sounds, and other features to suit our personal taste. The key word here is personal.

“PPLI can do the same for the assets of wealthy international families that are spread throughout the world.”

Our featured news article uses personal in another sense. We are widening our concept of Home to include ‘Home Is Where The Heart Is.’ For Kris Goldsmith what spurred him into action was misinformation that was being spread over Facebook about U.S. Veterans. This emotional element of Home can be a strong force in our lives.

“PPLI is a welcomed unifying element for the assets of wealthy international families.”

Let us review all that can be included in the assets of wealthy international families by visiting the Wikipedia page on Assets:

“In financial accounting, an asset is any resource owned by the business. Anything tangible or intangible that can be owned or controlled to produce value and that is held by a company to produce positive economic value is an asset. Simply stated, assets represent the value of ownership that can be converted into cash (although cash itself is also considered an asset). The balance sheet of a firm records the monetary value of the assets owned by that firm. It covers money and other valuables belonging to an individual or to a business.

One can classify assets into two major asset classes: tangible assets and intangible assets. Tangible assets contain various subclasses, including current assets and fixed assets. Current assets include inventory, while fixed assets include such items as buildings and equipment.

Intangible assets are non-physical resources and rights that have a value to the firm because they give the firm some kind of advantage in the marketplace. Examples of intangible assets include goodwill, copyrights, trademarks, patents and computer programs, and financial assets, including such items as accounts receivable, bonds and stocks.”

“With proper structuring most all the assets mentioned above can be included in a PPLI policy.”

Let us return to ‘Home Is Where The Heart Is,’ by following the trail of Kris Goldsmith in his search for disinformation as it related to the Vietnam Veterans of America. Our source is The Wall Street Journal article, Army Veteran Wages War on Social-Media Disinformation,by Ben Kesling and Dustin Volz. If you change the subject matter, Mr. Goldsmith’s search could be ours.

We all have topics that compel us to act in one way or another, if what we see on Facebook or in the media strike the right emotional cord for us. This emotional cord is ‘Home Is Where The Heart Is.’

Kris Goldsmith’s campaign to get Facebook Inc. to close fake accounts targeting U.S. veterans started with a simple search.

He was seeking last year to gauge the popularity of the Facebook page for his employer, Vietnam Veterans of America. The first listing was an impostor account called “Vietnam Vets of America” that had stolen his group’s logo and had more than twice as many followers.

Mr. Goldsmith, a 33-year-old Army veteran, sent Facebook what he thought was a straightforward request to take down the bogus page. At first, Facebook told him to try to work it out with the authors of the fake page, whom he was never able to track down. Then, after two months, Facebook deleted it.

The experience launched him on a hunt for other suspicious Facebook pages that target military personnel and veterans by using patriotic messages and fomenting political divisions. It has become a full-time job.

Working from offices, coffee shops, and his apartment, he has cataloged and flagged to Facebook about 100 questionable pages that have millions of followers. He sits for hours and clicks links, keeping extensive notes and compiling elaborate spreadsheets on how pages are interconnected, and tracing them back, when possible, to roots in Russia, Eastern Europe or the Middle East.

“The more I look, the more patterns I see,” he said.

Facebook’s response to his work has been tepid, he said. Company officials initially refused to talk with him, so he used a personal contact at Facebook to share his findings. Lately, the company has been more active.

Facebook didn’t respond directly to a list of questions about Mr. Goldsmith’s research, but a spokesman said the company had 14,000 people working on security and safety—double the amount last year—and a goal of expanding that team to 20,000 by next year.

In a statement, the spokesman said the company relied on “a combination of automated detection systems, as well as reports from the community, to help identify suspicious activity on the platform and ensure compliance with our policies.”

About two dozen of the pages Mr. Goldsmith flagged, with a combined following of some 20 million, have been deleted, often coinciding with Facebook’s purges of Russian- and Iranian-linked disinformation pages—including a separate crackdown by the company last week on domestic actors.

The determination and persistence of Mr. Goldsmith reminds us of how at Advanced Financial Solutions, Inc., we pursue all available avenues to successfully place assets into a properly structured PPLI policy. The results include both a fully compliant structure, and one that also produces enhanced privacy for the family, as for reporting purposes, the owner of the assets inside the PPLI policy becomes the insurance company.

You have an open invitation to find ‘Home Is Where The Heart Is’ with us. We welcome your comments and questions on how to find the right Home for your assets with Advanced Financial Solutions, Inc. by using PPLI. Please contact us today for an initial consultation at no charge.

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by Michael Malloy, CLU, TEP, @ Advanced Financial Solutions, Inc

 

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