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Supreme Court Case Could Upend a Key Succession Strategy
Expert Opinion April 17, 2024 at 10:29 AM
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What You Need To Know
- Closely held businesses often enter into agreements, funded by life insurance, whereby the business agrees to redeem a deceased shareholder's shares.
- The IRS claims that the value of that life insurance should increase the value of the deceased shareholder's business interests.
- The Supreme Court is tasked with resolving a split between how the Eighth Circuit and Eleventh Circuit have ruled on this issue.
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