While the case has drawn some attention by the advisor network, this ruling is worth another look. The 8th Circuit Court of Appeals finding in the Connelly Case was affirmed by the U.S. Supreme Court on June 6, 2024. In this case, the buy-sell liability offset was not recognized by the court and thus the corporately-owned life insurance paid at death significantly increased the value of the deceased’s estate and resulting estate-tax. Although the decision focused exclusively on Stock Redemption Agreements in the 8th Circuit Court jurisdiction, regardless of location, all business owners should take notice and consider a review of their existing buy-sell agreements and funding mechanisms.