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Author: Comiter Singer

June 10, 2024 Business Entities and Transactions

Company-Owned Life Insurance Proceeds On Deceased Shareholder Are Included In Their Estate Tax Calculation: The United States Supreme Court Weighs In

The recent decision of the U.S. Supreme Court in Connelly v. United States, U.S., No. 23-146, 6/6/24, has thrown an enormous monkey wrench into traditional buy-sell planning for closely held businesses.  The Court held that the proceeds of life insurance on a deceased shareholder must be included in determining the…