, the American business magnate and owner of the NBA's L.A. Clippers, has recently been in the news a lot. It hasn't been good news, from his perspective. He was recently issued a lifetime 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 life settlements should be a component of his retirement and financial planning — as it should be part of everyone's financial plan.
Here are some key questions Mr. Sterling should ask his advisors while reviewing his overall financial plan:
1. What is a life settlement?
2. Do I need my life insurance?
3. Are there consequences to my financial situation?
4. What are the downsides?
5. What are my other options?
6. Is it suitable for me?
Are there any questions that I missed? Please let me know in a comment below.