Emily Garrett

Oct 21, 2024 | drm.com | Joshua Leckey |Emily Garrett |J. Zaw Win |Kathleen Davis

The US Supreme Court recently issued a significant decision, impacting many closely-held businesses with buy-sell agreements funded by life insurance policies, Connelly v. United States, 144 S. Ct. 1406 (2024). In a 9-0 decision, the Court held that life insurance proceeds received by a closely-held corporation increased the value of the owner’s estate for federal estate tax purposes.