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    SCOTUS Decision in Connelly and Planning for Stock Redemptions in Closely Held Businesses

    SCOTUS Decision in Connelly and Planning for Stock Redemptions in Closely Held Businesses
    CLE 90 min

    SCOTUS Decision in Connelly and Planning for Stock Redemptions in Closely Held Businesses

    The program 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.

    Select your state to learn more about the credit details and status of CLE application. Credit is not available for states not listed.

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      10/08/2027

    1.50 total credit hours including

    • General

      Status:

      Available for credit

      1.50 credit hours

      Available until:

      10/08/2027

    1.50 total credit hours including

    • General

      Status:

      Available for credit

      1.50 credit hours

      Available until:

      10/08/2029

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      10/08/2025

    1.50 total credit hours including

    • Substantive Law

      Status:

      Available for credit

      1.50 credit hours

      Available until:

      10/08/2027

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      10/08/2027

    2.00 total credit hours including

    • General

      Status:

      Approved

      2.00 credit hours

      Available until:

      12/31/2026

    1.50 total credit hours including

    • General

      Status:

      Available for credit

      1.50 credit hours

      Available until:

      10/08/2027

    1.50 total credit hours including

    • General

      Status:

      Applied for

      1.50 credit hours

      Available until:

      10/08/2025

    2.00 total credit hours including

    • General

      Status:

      Self apply

      2.00 credit hours

      Available until:

      04/08/2026

    1.50 total credit hours including

    • General

      Status:

      Applied for

      1.50 credit hours

      Available until:

      10/08/2027

    1.50 total credit hours including

    • General

      Status:

      Applied for upon completion

      1.50 credit hours

      Available until:

      12/31/2025

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      10/08/2027

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      10/08/2026

    1.50 total credit hours including

    • General

      Status:

      Self apply

      1.50 credit hours

      Available until:

      10/08/2029

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      10/08/2026

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      12/31/2025

    1.50 total credit hours including

    • General

      Status:

      Self apply

      1.50 credit hours

      Available until:

      10/08/2029

    1.50 total credit hours including

    • General

      Status:

      Self apply

      1.50 credit hours

      Available until:

      06/30/2025

    1.50 total credit hours including

    • General

      Status:

      Self apply

      1.50 credit hours

      Available until:

      10/08/2025

    1.50 total credit hours including

    • General

      Status:

      Self apply

      1.50 credit hours

      Available until:

      10/08/2026

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      10/08/2026

    1.50 total credit hours including

    • General

      Status:

      Applied for

      1.50 credit hours

      Available until:

      10/08/2027

    1.80 total credit hours including

    • General

      Status:

      Available for credit

      1.80 credit hours

      Available until:

      10/08/2029

    1.50 total credit hours including

    • General

      Status:

      Self apply

      1.50 credit hours

      Available until:

      10/08/2027

    1.50 total credit hours including

    • General

      Status:

      Self apply

      1.50 credit hours

      Available until:

      10/08/2026

    1.50 total credit hours including

    • General

      Status:

      Applied for upon completion

      1.50 credit hours

      Available until:

      12/31/2027

    1.50 total credit hours including

    • General

      Status:

      Available for credit

      1.50 credit hours

      Available until:

      10/08/2027

    1.80 total credit hours including

    • General

      Status:

      Reciprocity

      1.80 credit hours

      Available until:

      10/08/2027

    1.50 total credit hours including

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      Approved

      1.50 credit hours

      Available until:

      10/08/2029

    1.50 total credit hours including

    • Areas of Professional Practice

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      1.50 credit hours

      Available until:

      10/08/2027

    1.50 total credit hours including

    • General

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      1.50 credit hours

      Available until:

      02/28/2025

    1.50 total credit hours including

    • General

      Status:

      Available for credit

      1.50 credit hours

      Available until:

      10/08/2027

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      10/08/2027

    1.80 total credit hours including

    • substantive legal education and skills development

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      1.80 credit hours

      Available until:

      10/08/2028

    1.50 total credit hours including

    • General

      Status:

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      1.50 credit hours

      Available until:

      12/31/2025

    2.00 total credit hours including

    • General

      Status:

      Approved

      2.00 credit hours

      Available until:

      10/08/2027

    1.50 total credit hours including

    • Substantive

      Status:

      Available for credit

      1.50 credit hours

      Available until:

      10/08/2027

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      10/08/2027

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      10/08/2026

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      10/08/2026

    1.50 total credit hours including

    • General

      Status:

      Available for credit

      1.50 credit hours

      Available until:

      10/08/2027

    1.50 total credit hours including

    • General

      Status:

      Self apply

      1.50 credit hours

      Available until:

      10/08/2029

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      10/08/2025

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      09/30/2025

    1.50 total credit hours including

    • General

      Status:

      Self apply

      1.50 credit hours

      Available until:

      10/08/2027

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      10/08/2027

    1.80 total credit hours including

    • General

      Status:

      Approved

      1.80 credit hours

      Available until:

      10/08/2027

    1.50 total credit hours including

    • Law & Legal Procedure

      Status:

      Approved

      1.50 credit hours

      Available until:

      10/08/2029

    1.80 total credit hours including

    • General

      Status:

      Applied for

      1.80 credit hours

      Available until:

      10/08/2027

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      10/08/2025

    1.50 total credit hours including

    • General

      Status:

      Self apply

      1.50 credit hours

      Available until:

      10/08/2027

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    In the Eleventh 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 Eighth 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 6, 2024).

    The ABA will seek 1.5 hours of CLE credit in 60-minute states, and 1.8 hours of CLE credit for this program in 50-minute states. Credit hours are estimated and are subject to each state's approval and credit rounding rules. Please visit www.americanbar.org/mcle for general information on CLE at the ABA.

    Product Details

    Product Code

    RP2410TSDOLC

    Duration

    90

    Publication Date

    10/9/2024 12:00:00 AM

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