BREW: Is Your Buy/Sell Causing Your Estate to be Taxable?

If you haven’t looked at your buy-sell since 2021, you may be exposing business-owned life insurance death benefit proceeds to unnecessary estate tax inclusion. A recent court case, the Connelly case, held that a closely owned family business’s death benefit proceeds were to be added to the value of the overall business for estate tax purposes.

In this session, Lincoln Financial’s Senior Consultant of Advanced Sales, Ryan Patton will discuss the items the court used to force including in the value of the business, what planning your clients may want to consider as alternatives and other best practices when working with closely held family businesses.