Episode One: Corporate Divorce – Preventing and Managing the Break-Up of a Business Partnership
Episode 21 | Where There's A Will, There's A Way
Everything You Ever Wanted to Know About Buy-Sell Agreements: A Conversation With Expert and Author Paul Hood
Buy-Sell Agreements and Their Place in an Asset Protection Plan
For many family-owned businesses, the future is built on relationships, trust, and shared history. But when it comes to succession planning, even the most tightly knit families often delay the conversation. As corporate...more
Closely held businesses routinely use life insurance to fund buy-sell obligations when an owner dies. The logic is simple: the company or surviving owners need liquidity to effect redemptions or repurchases, and life...more
Why should every business owner consider or revisit business succession planning at this time of year? The simple answer: Business succession planning protects owner and company alike. It protects all of the hard work and...more
In the high-pressure world of restaurant ownership, partnerships can be as delicate as they are rewarding. When business owners don’t plan for the unexpected—whether that’s a partner’s departure, illness, or...more
You’ve put the proverbial blood, sweat and tears into building your business. You’ve navigated its challenges and celebrated its growth. You may even have plans for what’s next — but are you planning for when you’re no longer...more
Recently, the U.S. Supreme Court ruled unanimously in Connelly v. United States, that the valuation of a decedent’s shares in a closely held corporation for federal estate tax purposes must include insurance proceeds received...more
Most people take steps to maintain good health, including scheduling annual checkups with their doctors to confirm there are no immediate or long-term health concerns. This checkup could include a stress test, which lets you...more
Many small business owners mistakenly believe business succession planning and estate planning is for those with substantial wealth. This is simply a myth which does not reflect the nature of business or home ownership....more
On June 6, 2024, the Supreme Court held 9-to-0 in Connelly v. United States that company-owned life insurance increases the company’s fair market value for estate tax purposes, and the company’s obligation to redeem a...more
On June 6, 2024, the United States Supreme Court issued its opinion regarding Connelly, as Executor of the Estate of Connelly v. United States. This final decision will directly impact all closely held business owners that...more
The Supreme Court of the United States issued an important ruling on June 6, 2024, clarifying the federal tax consequences of certain succession plans for closely held businesses. The Court held in Connelly v. United States,...more
All U.S. closely held businesses just received a warning from the highest court in the land that they should review their succession plans (or else risk a higher tax bill for the estates of their owners). On June 6, 2024, the...more
Following a challenging year for business owners, the time to decompress and celebrate with family and friends this holiday season provided a necessary respite. When business resumes, however, there are important action items...more
Will my family be taken care of when I am no longer around? Who will take care of me if I become incapacitated? Although these are questions we often don’t like to consider, the Covid-19 pandemic woke many people up to the...more
Life insurance is an effective tool that business owners can use to provide liquidity at their passing for both their businesses and their families. Having a properly drafted buy-sell agreement is key to avoiding conflict and...more