Recently, the U.S. Supreme Court ruled unanimously in Connelly v. United States, that the valuation of a decedent’s shares in a closely held corporation for federal estate tax purposes must include insurance proceeds received...more
12/4/2024
/ Beneficiaries ,
Business Ownership ,
Business Succession ,
Buy-Sell Agreements ,
Closely Held Businesses ,
Connelly v United States ,
Death Benefits ,
Estate Planning ,
Estate Tax ,
Fair Market Value ,
Federal Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Life Insurance ,
Limited Liability Company (LLC) ,
Redemption Agreement ,
SCOTUS ,
Shareholders ,
Small Business ,
Survivorship
As discussed in earlier blog posts, the Achieving a Better Life Experience (ABLE) Act was signed into law in December 2014. Under the ABLE Act, a so-called ABLE account can be established for a disabled individual. The...more
Although the Achieving a Better Life Experience Act (or ABLE Act) was signed into law on December 19, 2014, many states have been waiting to offer ABLE accounts authorized by the Act until the IRS published regulations. The...more