Special purpose insurance LLCs have become extremely popular over the past 5 years and have become a critical planning technique in the exit planner's tool chest. In fact, many advisors consider the Insurance-Only LLC to be the structure of choice when constructing a buy-sell arrangement for a client's closely-held business. When utilized in buy-sell planning, the inherent flexibility of the Insurance-Only LLC can solve many of the issues raised cross-purchase and entity redemption arrangements. However, Insurance-Only LLCs raise a variety of complex legal and tax issues that many advisors may not be fully aware of.

This comprehensive course addresses all of the critical planning issues raised by special purpose insurance LLCs and is an excellent way for exit planners to get fully up to speed on this important planning technique. This course will cover the following issues:

- What is a special purpose insurance LLC for buy-sell planning and what are its advantages over traditional structures
- Cross-purchase vs. entity redemption buy-sell arrangements
- Issues with trusteed cross-purchase arrangements
- Tax benefits of using an insurance LLC
- Creditor protection with insurance LLCs
- Allocation of the life insurance premiums
- Transfer for value considerations
- Valuation of the insurance LLC membership interest
- Using an insurance LLC to hold key employee life insurance
- Using an insurance LLC as an alternative to nonqualified deferred compensation plans

The course requirements are comprised of a video lecture and one eBook reading assignment, followed by a 15 question multiple choice test. The reading assignment is an eBook titled: "The Special Purpose Buy Sell Insurance LLC: The Adviser’s Guide and Sample Forms to Implementing and Using Special Purpose Insurance LLCs in Buy-Sell Arrangements." Your registration includes a copy of this highly informative eBook, the only one of its kind on the marketplace. Here's the table of contents:

Table of Contents
Introduction...................................................................................................... 1
Trusteed Cross-Purchase A ................................................................................ 3
What is a Special Purpose Buy-Sell Insurance LLC? ........................................................ 7
Transfer-For-Value Final Regulations – Considerations for BSILLC .......................................10
Tax Benefits of Using a Special Purpose Buy-Sell Insurance LLC ........................................ 20
Creditor Protection with Special Purpose Buy-Sell Insurance LLC ...................................... 23
LLC Planning Considerations...................................................................................25
Premium Payments and Allocations Amongst the Members.............................................. 34
Valuing the Insurance LLC Membership Interest Upon Death ............................................48
The Insurance LLC In Private Letter Ruling 200747002................................................... 51
Sample Operating Company Buy-Sell Agreement......................................................... 55
Sample Special Purpose Buy-Sell Insurance LLC Operating Agreement................................ 68
Appendix ........................................................................................................ 82
Private Letter Ruling 7918022................................................................................ 83
Private Letter Ruling 9349002................................................................................ 85
Private Letter Ruling 9625013................................................................................ 98
Private Letter Ruling 200747002............................................................................. 107
Private Letter Ruling 201217017............................................................................. 117
Rev. Rul. 88-76.................................................................................................. 123
ev. Proc. 2005-25............................................................................................... 128
Rev. Proc. 2019-3............................................................................................... 137
ESTATE OF FRANK H. KNIPP., 25 TC 153.................................................................…….176
ESTATE OF CARTWRIGHT v. COMM., 183 F.3d 1034........................................................ 196