On Thursday, January 23, trusts and estates attorney Zac Lamb will join Tate Groome, with Colton Groome Financial, to present an in-depth discussion on Connelly v. United States to members of the Land of the Sky Estate Planning Council (LOSEPC).
The session will center on the implications of the Connelly decision, which has raised concerns about closely held businesses using entity purchase agreements funded by life insurance. The case highlighted several pitfalls, including reliance on informal calculations, outdated agreements, and the absence of independent valuations. These factors ultimately contributed to a $900,000 increase in estate tax liabilities following the death of the majority shareholder. Zac and Tate will outline the lessons learned and discuss proactive measures business owners should take to ensure their agreements remain effective and compliant.
The event will be held at the DoubleTree Hotel, 115 Hendersonville Road, from 5:00 p.m. to 7:30 p.m. and will offer valuable insights for closely held business owners, estate planners, and other professionals. It's open to both members of the Land of the Sky Estate Planning Council and their guests. Click here for more information.
Details at a Glance
- Date: Thursday, January 23, 2025
- Time: 5:00 p.m. - 7:30 p.m.
- Location: Doubletree Hotel at 115 Hendersonville Road | Asheville, NC
