On June 6, 2024, the Supreme Court unanimously decided the case of Connelly v. United States, which concerned the valuation of a business with company-owned life insurance. In this case, two brothers ...

On June 6, 2024, the Supreme Court held 9-to-0 in Connelly v. United States that company-owned life insurance increases the company’s fair market value for estate tax purposes, and the company’s ...

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Recently, the U.S. Supreme Court made a ruling about the wrong way to use life insurance when buying out the other owner’s family interest in the business upon the death of that owner. Life insurance ...

Key man insurance is a type of life insurance policy that companies purchase on the life of a founder, owner or critical employee. It’s also called key person or key employee insurance. Key man ...

Business owners typically establish buy-sell agreements early in the life of the company to prepare for the eventual death of a partner. These common agreements include clauses that delineate how the ...