"Shaking Off Buy-Sell Agreements and Life Insurance for Business Owners: Implications and Planning in the Wake of Estate of Connelly v. United States"

VIRTUAL MEETING ONLY:
Zoom Meeting

Program Description:

For the 2023-2024 US Supreme Court term, the Court will consider whether the proceeds of a life insurance policy taken out by a family business on a shareholder’s life for the redemption of his shares should be considered a corporate asset when calculating the value of the shares for federal estate tax purposes. The circuit split between the Estate of Connelly v. United States and Estate of Blount v. Commissioner present unique planning opportunities for attorneys, financial and wealth advisors, life insurance advisors and business owners to work collaboratively to review existing buy-sell agreements and corresponding policies, along with strategize and draft new agreements and policies, to ensure desired tax and business planning and goals are met. This roundtable will curate a discussion among advanced practitioners on these legal and practical business concerns, as well as offer some background on the respective cases and best practices and opportunities for the future.

Speakers:

Andrew J. Barron, JD, LL.M., is an associate in the Trusts, Estates, & Personal Planning group at Stradley Ronon Stevens & Young, LLP in Philadelphia. Andrew represents high-net-worth individuals in all aspects of estate, trust, and tax planning. He also represents fiduciaries in the administration of trusts and estates. He is licensed to practice in PA, NJ, and NY.

Brian M. Balduzzi, Esq., Tax LL.M., MBA, CFP®, CEPA® (he/him) is a Private Client Senior Associate at Faegre Drinker in its Philadelphia, Princeton and New York offices. He advises and counsels business owners, corporate executives and industry leaders, along with their families, on estate, tax, business and charitable planning. As a sophisticated drafter and estate planner, Brian works collaboratively with other advisors to structure business and estate plans to meet clients’ goals and needs. He is licensed to practice in PA, NJ, NY, and MA, and he is sitting for the FL Bar in July 2024.

Cost:
No charge! Must be a PEPC Member to attend. 

No continuing education credits will be offered for this program.