Corporate Buy-Sell Handbook: An Essential Guide to Business Succession Planning Book

	Preface and Acknowledgments
1	Why a Buy-Sell	1
2	Funding the Buyer's Obligation	17
3	Funding for the Uninsurable Stockholder	31
4	Basic Income, Estate and Gift Tax Rules	39
5	The Taxation of Stock Redemptions	59
6	The AMT Trap	88
7	Third-Party Ownership of Insurance	93
8	Use of a Trustee	97
9	Problems Caused by Unusual Beneficiary Arrangements	104
10	Allocation and Economic Impact of Premium Payments	110
11	Price and Valuation	113
12	The Effect of Death Proceeds on the Purchase Price	142
13	Type of Insurance To Be Used	145
14	Use of Existing Insurance	148
15	Disposition of Policies on Lives of Shareholders	153
16	Overcoming Inadequate Funding	156
17	Salary or Bonus Funding	159
18	Group Term Life Insurance as a Funding Vehicle	162
19	Using a Pension or Profit-Sharing Plan To Fund a Buy-Sell	168
20	Funding a Buy-Sell Through an Employee Stock Ownership Plan	176
21	Funding a Buy-Sell Through a Split-Dollar Arrangement	181
22	Special Policies To Fund Buy-Sell Agreements	187
23	Use of Salary Continuation Plans	194
24	Generating Premiums Through Charitable Contributions	199
25	Intentional Undervaluation	202
26	S Elections and the Buy-Sell Agreement	207
27	Cross-Purchase vs. Stock Redemption: A Summary	214
28	Switching from Stock Redemption to Cross-Purchase	226
29	The Wait-and-See Solution	230
30	Buy-Sell Agreements and Divorce	235
31	Section 303 Redemptions	238
32	Disability and Buy-Sells	245
33	The "Leimberg Systems Approach" to Buy-Sell Planning	253
34	Drafting Considerations	264
35	Conclusions	291
	Appendix: Sample Buy-Sell Agreements	293
	Index	323
	About the Authors	331