Mr. Bounty represents high net worth individuals and family offices in the design and implementation of sophisticated planning involving the use of domestic and international life insurance and annuities, while facilitating both legacy and charitable planning goals. Additionally, by drawing on decades of experience as an insurance executive, as well as his legal experience and training, Mr. Bounty is uniquely positioned to advise participants in the life insurance and annuity marketplace.
He represents asset managers in the establishment of insurance dedicated funds for the private placement marketplace, counsels brokers about incorporating private placement life insurance and annuities into their practices, and advises insurance companies with regard to their policy-related documentation and other operational matters.
Mr. Bounty is a frequent speaker at continuing education forums and industry and family office conferences on the subject of private placement life insurance and annuities, with particular focus on the structure and tax treatment of investment vehicles utilized in the private placement life insurance and annuity realm.
Mr. Bounty began his legal career as a law clerk for the Chief Judge of the U.S. District Court, District of Connecticut, and then as an associate with the Hartford law firm of Shipman & Goodwin. After several years, he moved in-house and held several different positions within the internal legal departments of major insurance carriers including Travelers, Aetna and Sun Life of Canada (U.S.). In 2002, Tom served as the in-house counsel and taxpayer representative with regard to PLR 200244001, which ultimately led to the issuance of Rev. Rul. 2003-91 and Rev. Rul. 2003-92. In these rulings, the IRS clarified the appropriate tax treatment of various investment structures used within private placement insurance products.
Following those rulings, Mr. Bounty has focused his efforts exclusively on private placement variable insurance product development and transactions, serving as Managing Director of the Private Client Group at MassMutual Financial Group (2004-2012) and Vice President, Private Banking Solutions with Zurich American Life Insurance Company (2013).
Mr. Bounty graduated from the University of Connecticut School of Law with highest honors in 1982 after receiving his B.A. in American Studies (magna cum laude) from Keene State College in 1979.
*Admitted to State Bar of Connecticut; not admitted to the State Bar of Texas.