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Life Insurance Planning With Closely Held Companies in a Post-Connelly World

Five alternative strategies for businesses to consider on a shareholder’s death.

On June 6, 2024, closely held business owners learned that the highest court in the land may have significantly increased the valuations of their business interests; however, this wasn’t a moment for business owners to rejoice. The U.S. Supreme Court’s unanimous ruling in Connelly v. United States1 potentially increases business interest valuations for estate tax purposes, obstructing the efficiency of a longstanding, popular method of providing liquidity to the

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