FALL 2024

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116 THE DISTRIBUTOR’S LINK ROMAN BASI CONNELLY VS. UNITED STATES: IMPACT ON COMPANY LIFE INSURANCE PROCEEDS AND BUY-SELL AGREEMENTS from page 50 ¤ Planning for Future Tax Obligations Have a strategy to cover potential tax liabilities arising from corporate obligations or share redemptions ¤ Cross-Purchase Agreements These agreements can avoid complications by ensuring insurance proceeds go directly to purchasing shares without inflating estate tax values ¤ Evaluating Life Insurance Policies Review your life insurance policies to make sure they are structured to avoid unexpected tax liabilities ¤ Seeking Professional Valuations - Obtaining professional valuations enables compliance with current market values as well as tax regulations ¤ Consulting Legal and Tax Experts - Obtain estate planning attorneys as well as tax advisors to review and update corporate structures and agreements to ensure they align with current regulations This court case highlights how critical it is to have careful estate planning, understand potential tax implications of corporate agreements, and select the right insurance products. By reviewing and structuring your buy-sell agreements, life insurance policies, and consulting with professionals, you will be able to ensure a smooth ownership transition and minimize tax liabilities. At The Center for Financial, Legal & Tax Planning, Inc., (The Center) our M&A team is equipped with attorneys and CPAs to guarantee you are properly prepared for the exit of a business partner. If you need a buy/sell agreement prepared or would like your current buy/sell agreement reviewed, please feel free to reach out for a consultation. ROMAN BASI PACIFIC-WEST FASTENER ASSOCIATION 3020 Old Ranch Parkway #300, Seal Beach CA 90740 TEL 562-799-5509 FAX 562-684-0695 EMAIL info@pac-west.org WEB www.pac-west.org PAC-WEST AFTER HOURS NETWORKING EVENTS by Amy Nijjar Pac-West is pleased to announce these upcoming dates for the next After Hours Networking Events: November 7 Bay Area, CA Check our website www.pac-west.org for more information. We can’t wait to see everyone at these fun and casual events! There is no charge to attend but we do require an RSVP. Pac-West Tabletop Show Scheduled for 2025 It’s not too early to save the dates March 12-14, 2025 for Pac-West’s Spring Conference and Tabletop Show at the Westin Anaheim Resort in Anaheim, CA. Start making plans to bring your family for some Disney fun! Don’t Miss These Upcoming Pac-West Events Don’t forget to save the date for these upcoming Pac-West events: October 10, 2024 November 7, 2024 Fall Dinner Meeting and Vendor Showcase, La Mirada, CA After Hours, Bay Area, CA December 12, 2024 Holiday Party, La Mirada, CA March 12-14, 2025 Spring Conference & Tabletop Show, Anaheim, CA For more information on on the upcoming Pac-West events or the rest of its activities, or to view the full event schedule, visit www.pac-west.org. ASSOCIATION ARTICLE NATIONAL FASTENER DISTRIBUTORS ASSOCIATION

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