Connelly Lesson: A Good Buy-Sell Is Not Enough to Fix Value

Business Valuation UpdateVol. 30 No. 10
October 2024
estate and gift taxation
buy-sell agreement, estate and gift tax, estate & gift, insurance

Summary

Some insights on the Connelly U.S. Supreme Court case from exit planner Paul Hood and attorney Ed Morrow. In the case, the estate of a deceased owner got hit with tax penalties due to trouble over the buy-sell agreement and mandatory redemption on death that was funded with life insurance.