Major Supreme Court Case Forces Business Owners to Revisit Their Buy Sell Agreement – Including the Impact on Company Owned Life Insurance
In light of recent legal developments from the Connelly v. United States Supreme Court decision, it’s crucial for business owners to reassess their buy-sell agreements to ensure proper valuation and life insurance treatment.
During this webinar, Cory Parnell, Principal, and Dyanne Ross-Hanson, Senior Consultant, at BGM and Rob Tunheim, Attorney at Fafinski Mark & Johnson, joined for an insightful discussion on the key issues to address when reassessing these critical agreements. This webinar explored the legal implications of recent changes, the importance of accurate valuations, and best practices for coordinating life insurance to support a tax efficient business transition.
Topics Discussed:
- Overview of the Connelly vs. U.S. Case & Impact: Why it was significant and the unprecedented outcome.
- Basics of Buy Sell Agreements: Design and insurance funding alternatives.
- Business Valuations: Why clear, up-to-date valuation methods are essential to avoid potential estate tax inclusion.
- Who is Most Impacted by the Connelly Decision: Design structure, number of shareholders & life insurance structure.
- What to do Now. Legal and practical considerations.
Why Watch?
Watch the reply to ensure your buy-sell agreement protects your business, partners, and legacy.
