#42: Avoiding Surprises in Estate Planning – Valuation Post Connelly vs. U.S. with Tony Oman
From Q&A Over Coffee by Olsen Thielen CPAs & Advisors
September 17, 2025 · 30 min
About this episode
This episode discusses the impact of the Connelly Supreme Court case on business valuations and estate planning strategies involving life insurance.
In this episode of Q&A Over Coffee, host Tom Pesch sits down with Tony Oman, Principal of Business Valuation & Transaction Advisory Services, to unpack a complex but important issue: how life insurance impacts business valuations after the recent Connelly Supreme Court case. Tom and Tony walk through how buy-sell agreements funded by life insurance traditionally worked to create liquidity and preserve continuity when a shareholder passes away—and why the Court’s ruling has now upended that approach. They explore the practical implications for privately held companies, from unexpected estate tax consequences to challenges in succession planning, and discuss potential strategies business owners can consider, including special-purpose entities, cross-insurance, and irrevocable life insurance trusts. Whether you’re a business owner, advisor, or just interested in how valuation and tax law intersect, this conversation highlights why proactive planning—and keeping those buy-sell agreements current—is critical.
People in this episode
Host: Tom Pesch
Guest: Tony Oman
Topics covered
- estate planning
- business valuation
- life insurance
- Connelly Supreme Court case
- buy-sell agreements
- succession planning
Keywords
- estate tax
- business owners
- liquidity
- cross-insurance
- irrevocable life insurance trusts
- buy-sell agreements
- succession planning
Mentioned in this episode
Organizations: Connelly, U.S., Olsen Thielen CPAs & Advisors
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