Oct

09

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

1 PM EDT

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.

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

1.50 credit hours

Available until:

12/31/2024

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:

10/08/2025

1.50 total credit hours including

General

Status:

Applied for upon completion

1.50 credit hours

Available until:

10/08/2029

1.50 total credit hours including

General

Status:

Applied for upon completion

1.50 credit hours

Available until:

10/08/2025

1.50 total credit hours including

General

Status:

Applied for upon completion

1.50 credit hours

Available until:

06/30/2025

1.50 total credit hours including

General

Status:

Applied for upon completion

1.50 credit hours

Available until:

10/08/2025

1.50 total credit hours including

General

Status:

Applied for upon completion

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:

10/08/2026

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:

Approved

1.80 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

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

General

Status:

Approved

1.50 credit hours

Available until:

10/08/2029

1.50 total credit hours including

Areas of Professional Practice

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:

12/31/2024

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:

10/08/2027

1.80 total credit hours including

substantive legal education and skills development

Status:

Available for credit

1.80 credit hours

Available until:

10/08/2028

1.50 total credit hours including

General

Status:

Applied for

1.50 credit hours

Available until:

12/31/2024

2.00 total credit hours including

General

Status:

Approved

2.00 credit hours

Available until:

10/08/2025

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:

Applied for

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:

Applied for upon completion

1.50 credit hours

Available until:

10/08/2029

1.50 total credit hours including

General

Status:

Applied for upon completion

1.50 credit hours

Available until:

12/31/2024

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:

Applied for upon completion

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

General

Status:

Approved

1.50 credit hours

Available until:

10/31/2024

1.50 total credit hours including

Law & Legal Procedure

Status:

Approved

1.50 credit hours

Available until:

10/08/2025

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.

Scholarships

Financial scholarship applications are available for this program. To request an application, please fill out the form here. For any questions about the process please email [email protected].

Duration

90

Format

Webinar

Date

Oct 09, 2024

2024-10-09T13:00:00-04:00 2024-10-09T14:30:00-04:00 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.

Roger Grabowski

Z. Christopher Mercer

Mercer Capital

Section of Real Property, Trust and Estate Law

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