16 Jul Tip Tuesday
Welcome to Eagle & Fein, P.C.
🌟 In continuation of our Connelly v United States series. All limited liability companies or corporations should consider a cross-purchase agreement, where members/shareholders, or trusts for the member’s/shareholder’s benefit, purchase insurance on each other. Avoid complications of Connelly by ensuring insurance proceeds go directly to purchasing membership interests/shares without inflating estate tax values. Insurance policies should be either owned individually by the members/shareholders, or by a trust for the benefit of members/shareholders. #LLC #corporation #insurance #businessprotection 💼💰
