In an article published by Wealth Management, Private Wealth Partner Louis Laski examines a case that the US Supreme Court will hear involving company-owned life insurance's impact on estate tax calculations. The case revolves around whether the proceeds of a life insurance policy taken out by a corporation on a shareholder — to aid in the redemption of the shareholder's stock — should be considered a corporate asset when calculating the value of the shareholder's shares for federal estate tax purposes. Louis discusses how the case, Connelly v. Internal Revenue Service, should provide clarity on the treatment of company-owned life insurance used to redeem an owner's interest in the company.
"US Supreme Court to Settle Company-Owned Life Insurance Estate Valuation Issue," Wealth Management, January 3, 2024
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