{"version":"1.0","type":"rich","provider_name":"Acast","provider_url":"https://acast.com","height":250,"width":700,"html":"<iframe src=\"https://embed.acast.com/$/61fd8893d473430013dfa610/66e49f7da57e37b7839830b3?\" frameBorder=\"0\" width=\"700\" height=\"250\"></iframe>","title":"Entity Purchase Buy-Sell Planning in a Post-Connelly World","thumbnail_width":200,"thumbnail_height":200,"thumbnail_url":"https://open-images.acast.com/shows/61fd8893d473430013dfa610/1726258885684-83ec7e15-6827-4f01-87c0-60220fb52904.jpeg?height=200","description":"<p>When it comes to succession planning, entity purchase agreements are a popular solution for business owners.&nbsp;Under an entity purchase plan, upon the death of an owner, the business buys the deceased owner’s shares, and to fund the obligation, the business frequently owns a life insurance policy on each owner.</p><p><br></p><p>The recent June 6, 2024 Supreme Court decision in Connelly v. United States has raised concerns and created uncertainty, particularly for family-owned businesses that have stock redemption buy-sell agreements funded with business owned life insurance. In Connelly, the court included the life insurance death proceeds received by the business, thereby increasing the company’s value for estate tax purposes. The holding differs from prior precedent where the insurance was offset by the liability created by the purchase obligation under the stock redemption agreement. So, what should business owners with stock redemption/entity purchase buy-sell agreements funded with business owned life insurance do in a post Connelly world?</p><p><br></p><p>This webinar will discuss the issues caused by the Connelly decision and offer three alternative solutions. The Connelly decision underscores the importance of strategic estate planning for business owners. The ruling presents a timely opportunity for advisors to shine by helping their clients steer the complex landscape of business succession planning.</p><p><br></p><p>We’ll cover:</p><ul><li>Connelly Court Case Background</li><li>Doesn’t a Buy-Sell Agreement Fix Estate Value?</li><li>Lessons Learned from Connelly</li><li>What to do With Existing Insurance</li><li>Transfer-for-Value Problems in Changing to a Form of Cross-Purchase Buy-Sell</li><li>Three Solutions in a Post Connelly World</li><li>Book of Business Opportunities Now</li></ul>","author_name":"Diversified Brokerage Services"}