High Court's Connelly Decision Upends 20 Years of Buy-Sell Plans - What Should Your Clients Do?

Life insurance rarely figures prominently in U.S. Supreme Court cases. But there are scattered exceptions, and on June 6 2024, the Court released its decision in Connelly v. United States, originally a Tax Court case involving life insurance in an entity stock redemption arrangement between two brothers who owned a closely held corporation. The Court ruled in favor of the IRS and held that in this case, for purposes of establishing the value of the corporation for estate taxes, the corporation's obligation to purchase the deceased brother's shares did not offset the value of corporate owned li...

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Fast and Furious - Year-End Sales Ideas in 60 Seconds or Less

Ready for some quick sales ideas that you can take from start to finish before December 31?  Here are some of the best from Windsor and our carriers!   Year-End Tax Deductions!  American National ​As we enter the last two months of the year we are at the very peak of the pension season. Now is the time to contact prospects who couldn't pull the trigger on planning earlier in the year. There is much greater urgency to establish a plan now than back in March when no deadlines were looming. Contact accountants and let them know that you can help them and their client...

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John Hancock - July 2018 Central Intelligence

IN THIS ISSUE Tax Court Denies Summary Judgment in Morrissette Case on IRC §2703 Issue. State Supreme Court Affirms Finding That State Taxation of Foreign Trust Unconstitutional. Tax Court Denies Summary Judgment in Intergenerational Split-Dollar Case (Again). Tax Court Disregards Sham Trust and Attributes Trust Income to Trust Grantors. Tax Court Disallows $11.04M Charitable Deduction for Contribution Land and Rights to Municipality as Quid Pro Quo.  Click Here to View the Full Issue

From Windsor and Lincoln - Advanced Markets Online

Advanced Markets Online is a comprehensive reference tool that provides clear explanations of complex subjects. AMO is a practical, focused tool designed to provide quick and easy access to information you need in the business insurance, retirement, charitable giving and estate planning markets. AMO defines concepts, tells you how those concepts work, and examines tax consequences, key advantages/disadvantages, planning/funding considerations, and more. Point-of-Sale presentations are customizable with both your agency and client information. What does it look like? AMO is a searchable, user-f...

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