For estate planners navigating the post-Connelly landscape, Professor Adam Chodorow’s law review article, “Redemption! Valuing Closely Held Companies After Connelly,” is a compelling read, especially given the U.S. Supreme Court’s relatively narrow analysis. A longtime critic of the valuation approach established in Estate of Blount v. Commissioner,1 Prof. Chodorow offers a thorough and persuasive endorsement of the Court’s unanimous decision in Connelly v. United States, which overturned nearly two decades of estate tax valuation precedent.
A Title With a Point of View
The emphatic “Redemption!” in the title reflects Prof. Chodorow’s longstanding opposition to offsetting life insurance proceeds payable to a corporation with redemption obl…