Summary
At issue is a dispute between the deceased owner's estate and the surviving owner over the value of a fifty percent interest in the company that focuses on the allocation of the policy proceeds.
See Also
Company Insurance Policy on Dead Co-Owner at Center of Valuation Dispute
At issue is whether the entire proceeds of a $100,000 life insurance policy the company purchased for the purpose of: (1) providing key person insurance; and (2) providing funding for the surviving owner to purchase decedent's shares of the electrical service company from decedent's estate should represent the full value of decedent's 50% ownership.