With the case of Connelly v. United States, the US Supreme Court addressed the valuation of stock in a closely held business when insurance is used to fund a buy-sell agreement. This decision must be analyzed and understood to design and implement any buy-sell agreement where life insurance is involved.

• This session will address the following:
• Types of buy-sell agreements
• Income tax aspects of buy-sell agreements
• What Connelly stands for
• Which types of buy-sell agreements will or may be adversely affected by the Connelly case
• Whether existing buy-sell agreements should be amended or restructured
• How insurance should be used in funding buy-sell agreements