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| Once More into the Breach: A Deep Dive into Connelly v. United States (2211Q) |
Course CPE: 1 hour
Field(s) of Study: Business Law–1 hr
Program Level: Advanced
Prerequisites: Good knowledge of topic and experience in the field. Advanced level programs are often appropriate for seasoned professionals within organizations; however, they may also be beneficial for other professionals with specialized knowledge in a subject area.
Advanced Preparation: None
Delivery Method: QAS Self-Study |
Item
Number: 25BV1217MUB
Shipping Weight: 0lbs. 0oz. |
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$99.00 |
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Recording Date: December 17, 2025
Presenter: Chris Mercer and Andrew B. Frew
Program Description:
In the Eighth Circuit decision in Blount, corporate-owned life insurance was considered as a contingent asset to pay for the required redemption upon the death of a shareholder, and the life insurance was not considered as a corporate asset in fair market value determination.
In the Eleventh Circuit decision in Connelly, life insurance was considered to be a corporate asset and part of fair market value.
Seemingly without addressing the Blount decision, SCOTUS reviewed and affirmed the Eleventh Circuit's decision in Connelly, holding that the life insurance on a shareholder's life should be considered to be a corporate asset in the determination of fair market value, and therefore, added to value (on June 06, 2024).
This course will discuss the history of prior decisions, SCOTUS logic in rendering this decision, and, importantly, steps advisors can take from business and valuation perspectives in crafting buy-sell agreements and other redemption agreements.
Takeaways
This course will discuss the history of prior decisions, SCOTUS logic in rendering this decision, and, importantly, steps advisors can take from business and valuation perspectives in crafting buy-sell agreements and other redemption agreements.
After completing this course, you will be able to:
- Identify the history and implications of prior court decisions
- Determine the Supreme Court’s logic behind the Connelly decision
- Determine what steps advisors can take from business and valuation perspectives when crafting buy-sell agreements and other redemption agreements
- Identify the role life insurance played as a corporate asset and part of fair market value
- Recognize the impact the Connelly decision will have on future corporate and estate planning
- Recognize that every buy-sell agreement should be reviewed with competent legal, tax, and valuation input
For more information regarding refund or concerns, please contact our offices at (800) 677-2009.
The Consultants’ Training Institute (CTI) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org. |
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