Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Monday, June 27, 2011

CLE on Owning Buy-Sell Insurance Through Partnerships

The American Bar Association Section of Real Property, Trust and Estate Law is sponsoring a 90-minute teleconference and live audio webcast on July 19 entitled Using Partnerships to Own Buy-Sell Insurance. The program description is below:

Clients often prefer a cross-purchase buy-sell agreement but find practical problems often make them more difficult to administer than an entity purchase agreement. Our panelists will discuss a solution to these problems – using a limited liability company or other entity taxed as a partnership to hold life insurance policies used to fund a cross-purchase buy-sell agreement. Such a structure maximizes flexibility as ownership of an operating business changes over time, including the transfers of life insurance to owners entering or leaving the business. It also can provide superior income tax, estate tax, and asset protection results.

They will also cover how the owners should split the costs and benefits of such an arrangement, given differences in cost of insuring and each owner’s ability to contribute and percentage ownership in the business.

The economics, drafting, and tax considerations of three practical models will also be discussed.


Conferences & CLE, Estate Planning - Generally, Estate Tax, Income Tax | Permalink

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