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Business Owners
Life insurance for business owners: buy-sell funding after Connelly v. United States, key person cover, and how a redemption changes what the company is worth.
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Buy-sell agreements after Connelly v. United States
A unanimous Supreme Court held in June 2024 that a corporation’s obligation to redeem a dead shareholder’s stock does not offset the life insurance bought to fund it. The estate tax bill was $889,914.
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