The firm recognizes that estate planning in the high net worth market is evolving beyond the traditional role of implementing planning strategies that reduce taxes at death to encompass the broader and more immediate issues of investment and income tax planning. GSRP's role in assisting its clients with the purchase of private placement variable life insurance is an investment-oriented strategy that can dramatically improve the tax efficiency of a client's investment portfolio while providing meaningful tax mitigation strategies at the insured’s death. GSRP's position in the private placement life insurance arena has also resulted in the firm advising both non-legal providers of private placement life insurance services as well as the investment managers (primarily hedge fund managers) who seek to participate in this growing marketplace. Specifically, GSRP’s insurance team regularly counsels hedge fund and hedge fund of fund managers in the establishment and operation of insurance dedicated funds (IDFs) and their relationships with insurance carriers. Please note that GSRP is not an insurance broker and only provides legal and non-legal advice on insurance matters; it does not sell or place any insurance or investment products.