This month, Wright Ford Young & Co. welcomed two new hires to WFY: Annie Luu and Cayla Loren. Annie Luu joined our estate & trust department, and Cayla Loren joined our administrative department. We are pleased to welcome these new hires to our team. Annie Luu In mid-July, Annie Luu was welcomed to our estate & trust department as the newest Estate & Trust Tax Staff. She graduated from CSU Fullerton with her Bachelor’s degree in Accounting. Annie’s experience in the accounting industry includes her two years of experience prior to joining WFY. Outside of the office, Annie loves to
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Monthly Archives July 2024
Supreme Court Decision Impacts Many Business Owners Entity Redemption Buy-Sell Agreement
Cheryl Shelton Estate & Trust Director Do you have a buy-sell agreement with your business partner(s) and the company owns life insurance on each of you so the remaining partner(s) will have the cash to purchase your share from your estate? If so, you will want to know about a recent Supreme Court decision that sides with the IRS stating that the life insurance payout could increase your estate. Here’s what happened: Connelly v. United States No. 23-146 (June 6, 2024) Two brothers who ran a family business entered into a buy-sell arrangement that gave the surviving brother the
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