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Estate Planning › Shareholders

Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the... more +
Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the disposition of assets, guardianship of minor children, and appointment of representatives to make medical and financial decisions. Effective estate planning can decrease tax liability and facilitate the probate process.  less -
Maynard Nexsen

Taking the Pulse, A Health Care and Life Sciences Video Podcast | Episode 242: Business Planning in Healthcare & Life Sciences...

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This week, Lynnsey and Lauren are joined by Maynard Nexsen attorney Jennifer McEwen, who helps clients with business planning, estate and trust planning, and tax planning. Jennifer shares essential business strategies for...more

DarrowEverett LLP

Keeping It in the Family (Trust): Additional Considerations for Contributing S Corp Shares

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A large part of business sucession planning is structuring the transfer of business ownership. While outright transfers can be less complex, transferring ownership in trust can provide practical benefits that are worth...more

DarrowEverett LLP

Business Succession Planning: Pros and Cons of Passing S Corp Shares in Trust

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Business succession planning and estate planning are often linked together, particularly in the case of closely held family businesses. In the case of a shareholder who wishes to pass along their shares of an S corporation as...more

Weintraub Tobin

Navigating Business Interests as a Fiduciary in California

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Administering a trust or probate estate is challenging enough—but what happens when you, as a private professional fiduciary, are tasked with managing a business interest? Whether you’re a professional trustee, conservator,...more

Walkers

Hope for the best, but prepare for the worst: Wealth planning for mental incapacity

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It’s always wise to hope for the best but plan for the worst, and, with global rates of dementia on the increase, planning for incapacity should be part of everyone's wealth and succession strategy. Where the assets held...more

Adler Pollock & Sheehan P.C.

Revisit Your Buy-Sell Agreement in Light of U.S. Supreme Court Decision

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Buy-sell agreements are essential estate and succession planning tools for many family businesses and other closely held companies. These agreements, among other things, ensure that the business stays within the family or...more

Walkers

Intergenerational wealth transfer planning part 1: By failing to prepare you are preparing to fail

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As widely reported, the coming years will likely see a significant transfer of assets and wealth across generations. Each family's circumstances will ultimately determine the nature and extent of these transfers, and any...more

Warner Norcross + Judd

Hot Topics for Private Clients and Family Offices from the 2025 Heckerling Institute on Estate Planning – Part Two

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In our previous blog post on the 2025 Heckerling Institute on Estate Planning, we highlighted the concept of purpose trusts, a conference topic involving unique planning and charitable opportunities. In this second post of...more

Schwabe, Williamson & Wyatt PC

Transaction Q+A: What Private Business Owners Should Know Before Selling

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Brian Andreosky, President of Aldrich Capital Advisors, and lawyer Matt Bisturis, Shareholder at Schwabe, Williamson & Wyatt, P.C., discuss steps that private company owners should consider before, during, and after sale of...more

Kilpatrick

Estate Planning Ownership Playbook

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The Chicago Bears are a charter member of the National Football League, with ownership maintained by George Halas and later, his daughter, Virginia Halas McCaskey, for over 100 years. Upon Virginia McCaskey’s death last week,...more

Cole Schotz

Death, Taxes and Shareholder Agreements: Lessons from the Connelly Case

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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

Blank Rome LLP

Supreme Court Issues Ruling Affecting Valuation of Closely Held Corporations Employing Life-Insurance-Funded Redemption-Type...

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Improperly structured buy-sell agreements for closely held businesses will lead to an unexpected increase in the estate tax imposed on the estate of the deceased owner. The Supreme Court decision emphasizes the need for a...more

Kilpatrick

Estate Planning Considerations Post Connelly v. United States

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On June 6, 2024, the Supreme Court of the United States issued a unanimous decision in Connelly v. United States and found that life-insurance proceeds payable to a closely held business for the purpose of funding a share...more

Husch Blackwell LLP

Unanimous Supreme Court Determines Company-Owned Life Insurance Increases Fair Market Value

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On June 6, 2024, the Supreme Court held 9-to-0 in Connelly v. United States that company-owned life insurance increases the company’s fair market value for estate tax purposes, and the company’s obligation to redeem a...more

Pillsbury - Propel

Estate Planning for Founders - Part II: Planning with Qualified Small Business Stock

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This is the second of a four-part series focusing on estate planning fundamentals for founders. This article will address an important topic for owners of Qualified Small Business Stock (QSBS) as defined in Section 1202 of...more

Levenfeld Pearlstein, LLC

Redemption Agreements and Life Insurance Proceeds: What the SCOTUS Decision in Connelly Means for Closely Held Businesses

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Many closely held businesses have shareholder buy/sell redemption agreements. These agreements are critical to maintaining business continuity when a key shareholder exits the company. When the redemption agreement is...more

Alston & Bird

Supreme Court Holding Adds Complexity to Estate Planning

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Keeping it in the family just got more complicated. Our Tax Group studies a Supreme Court decision that left a family with an unexpected estate tax liability related to a share redemption agreement....more

Tannenbaum Helpern Syracuse & Hirschtritt LLP

Supreme Court's Connelly Decision Significantly Impacts Business Succession Planning

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On June 6, 2024, the U.S. Supreme Court issued a pivotal decision in Connelly v. United States, affecting how life insurance proceeds are treated in buy-sell agreements for closely held corporations. The ruling states that...more

Bressler, Amery & Ross, P.C.

Adverse Estate Tax Impact when a Redemption Agreement is used to Purchase Deceased Shareholder’s Shares

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In the recent case, Connelly v. United States, 602 U.S. (2024) (slip op.) the U.S. Supreme Court unanimously ruled that life insurance proceeds received by a closely held corporation which is used to fund the redemption of a...more

Balch & Bingham LLP

Great Leaders Establish Great Succession Plans

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The future success of your organization depends upon your ability to plan and implement a succession plan. Succession planning, first recognized by Henri Fayol in the early 1900s, continues to be a necessity for any...more

Miles & Stockbridge P.C.

Supreme Court Case Adversely Impacts Parties to Buy-Sell Arrangements

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In a unanimous decision, the Supreme Court of the United States recently determined in Connelly v. U.S. that the value of a life insurance policy must be included in the fair market value of a closely held business for...more

Womble Bond Dickinson

Supreme Court Clarifies Shareholder Agreement Valuations for Estate Tax Purposes in Connelly v. United States

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Many co-owners of closely held businesses will employ life insurance as a tool for funding the transfer of ownership in the business upon the death or retirement of an owner. In these cases, planning involves the use of...more

Bond Schoeneck & King PLLC

Life Insurance and Tax Implications

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Amidst many recent sharply divided decisions, the United States Supreme Court (SCOTUS) on June 6, 2024 issued a rare unanimous ruling in Connelly v. United States, which addressed estate tax considerations relative to...more

Baker Donelson

Supreme Court Upholds Life Insurance Valuation in Estate Tax Calculation

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The United States Supreme Court (Supreme Court) released the Connelly v. United States opinion on June 6, 2024. The opinion affirmed the Eighth Circuit's holding in favor of the IRS that a company's contractual redemption...more

Rivkin Radler LLP

BEWARE: Redemption Agreement Funded with Corporate-Owned Life Insurance

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On June 6, 2024, in the case of Connelly v. United States, the United States Supreme Court determined that corporate-owned life insurance proceeds used to redeem a decedent’s shares in the corporation must be included when...more

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