Supreme Court takes on life insurance as a corporate asset

April 2, 2024 by Doug Bailey

Should the proceeds of a life insurance policy taken out by a corporation on a shareholder be considered a corporate asset that raises the value of the company for calculating estate taxes? Or are they simply a pre-existing liability the company has to meet to purchase the shares from the estate of a deceased shareholder?

That was the question facing the U.S. Supreme Court this week in the case of Connolly vs. U.S.

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Originally Posted at InsuranceNewsNet on March 29, 2024 by Doug Bailey.