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Estate Planning guides
Funding a buy-sell agreement with life insuranceHow life insurance funds a buy-sell agreement when a co-owner dies: setting the price, sizing and owning the policies, the tax rules, and the Connelly decision.Corporate- and bank-owned life insurance (COLI and BOLI)What COLI and BOLI are, why employers buy them, the notice-and-consent rule (IRC 101(j), Form 8925), IRC 264 interest limits, and bank regulator oversight.Cross-purchase vs entity-redemption buy-sell plansCompare cross-purchase and entity-redemption buy-sell plans on policies, cost, basis step-up, creditors and estate tax, including the 2024 Connelly ruling.Life insurance in nonqualified deferred compensationHow employers use company-owned life insurance to informally fund nonqualified deferred compensation, with IRC 409A, 101(j) and 264 rules and creditor risks.Key person life insuranceHow key person life insurance works: who qualifies, how to size it, who owns it, and the tax rules (IRC 101(j), Form 8925) that apply to company-owned policies.Life insurance for an SBA loanWhen SBA 7(a) and 504 lenders require life insurance under SOP 50 10 8.1 (effective Oct 1, 2026): who must be insured, how much, collateral assignment and term.Section 162 executive bonus plansHow a Section 162 executive bonus plan works: the employer pays a bonus, the executive owns the policy, and who pays the tax, plus costs and alternatives.Split-dollar life insuranceHow split-dollar life insurance works, the two tax regimes under Treas. Reg. 1.61-22 and 1.7872-15, and where it is used in employer and family planning.